New Year’s resolutions for homeowners might include making various improvements to their living spaces. And like most resolutions, home improvement wishlist items are popular and predictable.
The top five projects that Philadelphia homeowners are planning for 2022 are kitchen remodeling, bathroom remodeling, landscaping, interior painting and exterior painting, according to research from Zillow and Realm, a platform online data and home information.
Nationally, nearly three in four homeowners will consider at least one home improvement project in 2022. That number surprised Zillow researchers.
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“We believe 2022 will be the year of the renovation,” said Amanda Pendleton, home trends expert at Zillow. Homeowners can build equity while making their homes more livable and functional, she said.
Kitchen and bathroom renovations are among the top five most anticipated projects in cities across the country.
“Kitchens and bathrooms sell homes, that’s what we’ve always heard,” Pendleton said. As places of entertainment, dining and relaxation, “these spaces took on added importance during the pandemic”.
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Bathroom renovations are the most popular, with more than half of homeowners surveyed saying they would consider this type of renovation. Many buyers are willing to pay a little more for homes with spa-like features such as “rimless” showers, heated floors, and freestanding tubs. The average cost of a bathroom remodel is around $ 13,400, according to Angi, the home service platform formerly known as Angie’s List.
Over the past two decades, master bathrooms have become retreats, and homeowners have become more willing to spend money on beautiful light fixtures, steam showers, and lighted mirrors, in part thanks to luxurious hotel experiences, said a spokesperson for the National Kitchen and the Bath Association, a trade organization representing 50,000 members of the construction, design and retail industries who specialize in kitchens and bathrooms .
Zillow found that 46% of homeowners surveyed would consider renovating their kitchens in 2022. Luxury kitchen features have become even more popular during the pandemic as homeowners cook more often. According to the National Kitchen and Bath Association, owners are including more storage, such as walk-in pantries, and wealthy owners are adding a second kitchen. The average cost of a kitchen remodel is around $ 35,300.
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The other three Philadelphians’ top five home improvement projects for 2022 – landscaping and interior and exterior painting – are popular because they are relatively more affordable and can change the look of a home, according to Angi.
In nearly all of the kingdom’s 35 cities surveyed, landscaping is a top priority for projects this year. The average cost of landscaping is around $ 2,400, according to Angi.
Interior and exterior painting is ranked as a priority for 2022 in 17% of the Kingdom’s cities surveyed. The average cost of interior painting is $ 2,000 and exterior painting is $ 3,300, according to Angi.
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Renovations with the highest ROI for homeowners add living space, including conversions and additions that don’t alter the home’s original structure, according to Realm.
Nationally, projects topping homeowners’ lists include adding or improving office space, finishing a basement or attic, and adding a new home. ‘hosts or secondary accommodation – such as a master bedroom, according to data from a Zillow survey.
Especially in dense and high cost metropolitan areas, square footage is of the utmost importance. And spending more time at home during the pandemic has prompted households to want to expand, use home gyms, and create spaces for school and work from home.
“Space is king right now,” said Pendleton, “and that’s what we’re seeing in these results.”