Houston Sees Rise in Home Improvement Activity
Low interest rates and gains in home equity are prompting a rise in Houston home improvement activity. According to the Houston Business Journal, Houston building permits for home remodeling have increased by 46% year-over-year. $28.4 million dollars worth of permits were issued in January 2016, up from $19.5 million in January 2015.
Popular home improvement projects in Houston include bathroom and kitchen remodels, room additions, and outdoor living area installations such as pools, decks and patios.
If you are considering a home remodeling project, begin with a plan and budget in mind. Consider the footprint of the living area you wish to update, along with the type of materials, design and functionality you want to incorporate. Avoid the temptation to go overboard. Remodeling seldom pays you back dollar-per-dollar on your investment.
Also think about the reasons you wish to remodel. If you are doing upgrades for improved functionality, aesthetics and personal enjoyment, your return on investment may not be the primary concern.
However, if you are remodeling for the purpose of improving resale value, more caution is in order. Begin with a good idea of what your home is worth on the the market as-is. Obtain a comparative market analysis from the KW Energy Corridor Team. Our consultation about local home values, popular amenities and market trends can help you approach your remodeling project strategically and cost-effectively. We can also refer you to highly reputable contractors and home service providers.
Knowing what you want to accomplish with your remodeling project will help you make the right decisions, and obtain the most accurate estimates. Here are some examples to keep in mind:
According to the 2016 Cost vs. Value report, a major kitchen remodel in Houston at $56,000, will return about $44,000 when you sell. A bathroom remodel costing about $16,000 will return $12,000 when you sell.
A surprisingly effective upgrade is a steel front door. The estimated investment of $1,291 will pay you back $1,375 when selling your home. Garage door replacements also provide a good return, with a $1,541 investment returning $1,702. These two upgrades are an inexpensive way to update your home’s exterior, while adding curb appeal and improving market value.
Looking for more information? We’re here to help you! Obtaining the expert advice of the KW Energy Corridor Team is the first step in a successful home sale. We will provide you with customized strategies for top-dollar offers! We also have a vast network of service professionals to help you prepare your home for the market.
KW Energy Corridor Team
11757 Katy Fairway | Suite 930
Houston, TX 77079