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Issue link: https://qualifiedremodeler.epubxp.com/i/623311
Add New Bathroom CONSUMER S' VIE WPOINT AF TER COMPLETING THE PROJEC T: ¡ ¡ Top reason for doing the project: to add features/improve livability — 64 percent. ¡ ¡ Second most common reason: recently moved into home and wanted to customize it — 8 percent. ¡ ¡ Most important result: better function and livability — 53 percent. ¡ ¡ Seventy-eight percent said they have a greater desire to be home since completing the project, and 70 percent have an increased sense of enjoyment when they are at home. ¡ ¡ J OY S C O R E: 10 ¡ ¡ Eight percent of REALTORS® have suggested sellers a new bathroom before attempting to sell, but only 2 percent said the project most recently helped cinch a deal for them, resulting in a closed sale. ¡ ¡ Among all U.S. households, only 1 percent cited the bathroom as giving them the most enjoyment in their home. ¡ ¡ If a U.S. household had $25,000 to update or remodel, 9 percent say they would do a bathroom remodel first. COST RECOV ERY: ¡ ¡ NARI Remodelers' cost estimate: $50,000. ¡ ¡ REALTORS®' estimated cost recovered: $26,000. ¡ ¡ Percent of value recovered from the project: 52 percent. N A RI COS T M EDI A N $50,000 $26,000 N A R VA LU E M EDI A N New Master Suite CONSUMER S' VIE WPOINT AF TER COMPLETING THE PROJEC T: ¡ ¡ Top reason for doing the project: to add features/improve livability — 27 percent. ¡ ¡ Second most common reason: time for a change — 26 percent. ¡ ¡ Most important result: better function and livability — 42 percent. ¡ ¡ Eighty-eight percent said they have a greater desire to be home since completing the project, and 88 percent have an increased sense of enjoyment when they are at home. ¡ ¡ J OY S C O R E: 9.7 ¡ ¡ Only 4 percent of REALTORS® have suggested sellers complete an owners' suite before attempting to sell, and only 1 percent said the project most recently helped cinch a deal for them, resulting in a closed sale. ¡ ¡ However, among all U.S. households, 13 percent cited the bedroom as giving them the most enjoyment in their home. ¡ ¡ If a U.S. household had $25,000 to update or remodel, just 1 percent of respondents say they would update their bedroom first. COST RECOV ERY: ¡ ¡ NARI Remodelers' cost estimate: $112,500. ¡ ¡ REALTORS®' estimated cost recovered: $60,000. ¡ ¡ Percent of value recovered from the project: 53 percent. N A RI COS T M EDI A N $112,500 $60,000 N A R VA LU E M EDI A N