Homeowners are getting ready to make improvements to their houses in order to increase the value of their property The remodeling Market Index (RMI) hit a five-year high at the end of 2011 meaning that the market will continue to prosper during this year After a slow start, the trend of home improvement spending is expected to grow this year If this trend continues to increase during the second half of the year, the remodeling activity will end 2012 on a positive note A recent study by Better Homes and Gardens shows that consumers find it more important to get the most for their money and are willing to spend time looking for bargains in order to get the most value for their money
Living space and the way its utilized is also very important for consumers. More and more attention is being given towards the aesthetic and functionality of space rather than the amount of space available. Homeowners are less likely to invest in bigger projects; they prefer investing in projects that are better Affordable and efficient projects that focus on both space and energy rank topmost in the U.S In terms of remodeling priorities, Bathroom Remodeling Los Angeles is more popular than kitchen remodeling projects. According to a recent study bath remodeling projects stayed constant in the last 2 years at 31% while kitchen remodeling reached a stable 24% in 2010 and a 25% in 2011.
Some exterior replacement projects such as garage doors and a new entry door offer some o the best rates of return during resale. This allows home owners to recuperate up to 70% of the cost at the time of resale.
The following are the top, mid-range remodeling projects in the Los Angeles area
Attic bedroom (converting unfinished attic space into a bedroom with bathroom and shower)
Estimated cost: $50,200 Cost recouped at time of resale: 72%
2. Kitchen Remodeling Los Angeles (new cabinets and drawers, countertops, hardware, and appliances)
Estimated cost: $19,600 Cost recouped at time of resale: 75 %
3. Garage Door Replacement
Estimated cost: $1,500 Cost recouped at time of resale: 70 %
4. Wood Deck Addition
Estimated cost: $10,500 Cost recouped at time of resale: 70%