Cost vs. Value Report

Homeowners Showing Serious Inclinations Towards Renovations

Highlight Homes Luxury Renovations
Homeowners Showing Serious Inclinations Towards Renovations

“I LOVE MOVING” …said no one ever. While the excitement that comes with making a new house your own and the enjoyment of that “new house smell” are both powerful forces, there is a growing trend in home ownership that points in a very different direction. More and more homeowners in the U.S. are making the choice to simply stay put in their current homes and RENOVATE. As a matter of fact, according to the most recent Zillow® Housing Aspirations Report, a whopping 76% of homeowners would rather spend their money on a home renovation than as a down payment on a new home. Those statistics jump to 86% for homeowners who are 55+ and to 91% for retirees.

But why stay put when there could be a bright and shiny new home in your future? In addition to a clear dislike of the hassle of moving, the 2018 Zillow Group Report on Consumer Housing Trends indicates that 83% of homeowners surveyed simply love their current home. Furthermore, 63% have no plans of selling in the near future. For those who DO plan to move at some point, a well-planned and beautifully executed renovation is a terrific way to make their home more enjoyable in the present and more attractive to buyers in the future.

As far as the need for renovations go, the 2018 Zillow Group Report on Consumer Housing Trends also indicates that – with the average homeowner spending 16 years in their home – 60% believe their homes are in need of some updates. After all, styles change – as often do the taste levels of owners as they mature over the course of more than a decade and a half. As a matter of fact, 16% believe major renovations are in order and 4% feel a complete overhaul is needed. Of those homeowners who opt to renovate, 17 percent spend between $5,000 and $10,000; 11 percent spend between $10,000 and $20,000; and 8 percent spend $20,000 or more.

With the vast majority of homeowners paying cash for their home renovations – to the tune of 45% – return on investment is a very important factor. Remodeling Magazine’s annual Cost vs. Value report outlines which home renovations will yield the best returns in 2019. Included among them are garage door replacement (recoup 97.5% of cost), manufactured stone veneer (recoup 94.9% of cost), minor kitchen remodel of about $22K (recoup 80.5% of cost), wood deck addition and siding replacement come in neck and neck (recoup 75.6% of cost), entry door replacement (recoup 74.9% of cost), window replacement (recoup 73.4% of cost), roofing replacement (recoup 68.2% of cost) and minor bathroom remodel of about $20K (recoup 67.2% of cost). Also on the list for recouping between 50-67% of the cost on average are major kitchen remodel, bathroom addition, major bathroom remodel, backyard patio and master suite addition.

In addition to being one of Atlanta’s premier custom home builders, Highlight Homes has a rich history of designing and realizing stunning luxury renovations. And with our solid background in architecture and structural engineering, we could virtually reimagine the layout of your home to fit your vision. If you’re among the 76% of homeowners who would opt for a home renovation above a down payment on a new home, we welcome the chance to talk to you! To schedule a no-obligation consultation, contact us at 678-874-9234 or info@highlighthomesga.com. You can also elect to complete our convenient online contact form. To view our work and learn more about our other capabilities, we encourage you to visit www.highlighthomes.com.

Sources: Zillow Media Room – Press Release “Americans Would Rather Renovate than Buy a New Home”
2018 Zillow Group Report on Consumer Housing Trends
Remodeling Magazine's annual Cost vs. Value report

Beautiful Bathrooms in Bloom

Highlight Homes Luxury Renovations
Beautiful Bathrooms in Bloom

Spring is NOT merely reserved for a week-long break at the beach, planting flowers, pulling out those white jeans and open-toes shoes, the return of pollen and the age-old practice of the big “Spring Clean.” Spring is a time of renewal – making it an excellent time to reimagine key areas of your home, whether for your own enjoyment or to increase its value and appeal to a potential buyer in the near future… or BOTH!

According to Remodeling Magazine’s Cost vs. Value Report for 2018, a bathroom remodel and/or addition still brings a great return on investment. In addition to enjoying a newly revamped space in which to start and end each day, you can expect to recoup some of the money invested when it comes time to sell. If executed properly with lots of WOW factor, your bathroom remodel could serve as one of the major reasons a homebuyer may want to purchase your home. The Cost vs. Value Reports suggests that a midrange bathroom remodel costing about $19,134 can expect to see a return on investment of right around 70% or $13,422, whereas an upscale bathroom remodel costing about $61.662 can expect to see a return on investment of right around 56.2% or $34,633. In the event that a bathroom addition is required, the margins are a tad closer. A midrange project of $44,717 will likely see 59.9% ROI, and an upscale project of $83,869 will likely see 54.6% ROI.

Planning a bathroom remodel or hoping to make the master bathroom of your new custom home magazine-worthy? You might want to stay abreast of some of the latest trends. The design and construction team at Highlight Homes certainly is!  Here are our favorite Top 5 Trends in Bathrooms today:

1)      Natural Stone Elements – Granite and marble have long been the star of the show in bathroom counters, but more recently designers are really loving the look of natural elements throughout the bathroom – from the shower surround to the walls to the flooring. Not only are they naturally beautiful, but they’re incredibly durable.

2)      Smart Showers and Toilets – From futuristic steam showers with special controls and sensors, to toilets with flushing sensors, heated seats, self-cleaning nozzles, overflow control and smart flush technology for water savings, bathrooms are going more and more high-tech! Many homebuyers/renovating homeowners are also starting to incorporate wiring over the tub for a little TV viewing while you soak – the ultimate in relaxation!

3)      Barn Doors – Barn doors are NOT just for the barn anymore! Often featuring reclaimed wood (or the suggestions of such), these sliding doors have found their way from the outdoors to the indoors and are quickly becoming a hot commodity in bathroom décor.

4)      Subway Tile – Although subways are not always known for their cleanliness, the resurging trend towards the use of subway tile in bathrooms gives the sense of a sparkling clean space of tranquility. Many designers are adding darker grout which – in addition to helping hide any dirt and grime between cleanings – gives bathrooms an undeniable vintage feel.

5)      Sleek and Spa-Inspired – The overall theme for bathrooms these days is uncluttered, utterly refined and absolutely inviting. A blend of textures paired with soothing colors, it’s clear what was intended when the name “rest” room was first uttered.

Whether building a custom home from the ground up or renovating your current home, Highlight Homes welcomes the chance to help you incorporate all of the elements outlined above and so much more into your new master bathroom. To learn more about Highlight Homes and take a peek inside our gallery of projects, please visit us at www.highlighthomesga.com. When you’re ready to schedule a no-obligation consultation, reach out to us by phone at 678-873-9234, email us at info@highlighthomesga.com or fill out our online contact form and someone will be in touch with you shortly!