Miramar,FL –January 14, 2015– Granite Transformations is calling on homeowners who are looking for a high return on their home renovation investment to consider remodeling their kitchens or baths over other rooms in their homes, based on Remodeling Magazine’s 2014 ‘Cost vs. Value’ national report.
“With 2015 upon us, many homeowners are embracing the thought of their dream kitchens and luxury baths,” said Carl Griffenkranz, Vice President of Marketing for Granite Transformations. “We are excited to share this informative report to enlighten homeowners to the projects that produce the greatest return on their investment. Granite Transformations is proud to offer kitchen and bath remodeling that is custom-tailored to meet our customer’s needs – turning their dreams into a reality.” He continued, “The demand for home remodeling continues to increase, which the report also illustrates. The population is ‘aging in place,’ so seniors are opting to make upgrades in order to stay comfortable in their homes. Families are also ‘fixing to stay’ to avoid moving and uprooting their children from their schools and communities.”
According to the report, the average cost of a minor kitchen remodel in the United States is approximately $18,856, which is a return of 82.7% of a homeowner’s investment. Additionally, the report states that a minor bathroom remodel costing $16,128 returns a 72.5% return on investment. Based on these national averages, homeowners can gauge their renovations around their specific needs. For major renovations, the cost will vary, depending on the type of project and geographic region. For example, New England and the Pacific regions tend to have higher remodeling averages than the Mid-Atlantic or Mountain regions.
Based on the averages below, attic bedroom remodels and garage door replacements can yield a high return on investment; however, they are typically not at the top of a buyer’s must-have list, whereas kitchens and bathrooms typically are the biggest selling points for homes.
Below is a list of projects that produce a great return on your investment:
Steel front door replacements (costing $1,162) yield a 96.6% return
Attic bedroom remodels (costing $49,428) yield a 84.3% return
Garage door replacements (costing $1,532) yield a 83.7% return
Minor kitchen remodels (costing $18,856) yield a 82.7% return
Basement remodels (costing $62,834) yield a 77.6% return
Bathroom remodels (costing $16,128) yield a 72.5% return
Garage additions (costing $49,911) yield a 69.3% return
Family room additions (costing $80,765) yield a 68.8% return
Bathroom additions (costing $38,186) yield a 60.1% return
Home office remodels (costing $28,000) yield a 48.9% return
(Source: Remodeling magazine’s 2014 ‘Cost vs. Value’ national report)
Energy efficiency continues to be a top consideration among homeowners who are thinking about embarking on a kitchen or bath remodel. Industry expert, Tim Maicher, Director of Marketing at BLANCO, states that homeowners are becoming increasingly conscientious about the efficient use of energy, water and building materials in their homes. “Our line of water-saving faucets continue to grow in popularity, saving homeowners up to 30% more water than standard flow faucets,” said Maicher. Other green products like BLANCO’s Compost System is built into the countertop where food waste can be collected and composted, along with a convenient cover to prevent odors. “It’s the perfect combination of function and style,” Maicher said.
To learn more about getting the most out of your remodeling investment, read the rest of the article on our blog.
Granite Transformations’ products can be professionally installed in as little as one day and all products are backed by a lifetime warranty, giving customers’ added peace of mind and unbeatable value. These surfaces are nonporous and are incredibly resistant to stains, scratches and heat. They are infused with the company’s exclusive ForeverSeal® technology which helps to ensure the lifetime use of the products. Customers also enjoy Granite Transformations’ complimentary in-home design consultations, which allow them to choose products from the comfort of their own home.