More Homeowners Taking on Major Remodeling Projects This Year

One of the big trends in remodeling for 2015 revealed at the International Builders Show is major remodeling projects. More homeowners are foregoing small renovations in favor of taking on remodeling projects with increased scope.

According to an Angie’s List survey, more than 60 percent of homeowners are considering remodeling in 2015 and 25 percent of homeowners are planning to spend $10,000 or more on a remodeling project. Homeowners are willing to spend more money to get space customized for them that improves the functionality and usability of their home and adds luxury. In addition, homeowners would rather spend more money now to get the space exactly the way they want it rather than undergo multiple small renovations every few years because the previous renovations weren’t extensive enough to meet their needs.

Homeowners are opting to spend the money on areas where it will be more impressive and most visible. Kitchens and bathrooms continue to top the list.

  • Kitchens are being expanded or renovated to include features such as additional pantry space, multiple islands, and technology stations. A huge trend for kitchens is to remove walls separating it from adjoining rooms to create one large, open space.
  • Bathrooms are also being expanded to accommodate luxury features such as soaker tubs, heated floors, and oversized walk-in luxury showers with all the extras, such as steam showers and rainfall showerheads. Many homeowners are choosing to build additional bathrooms as well.
  • Bedrooms are being expanding to create a master suite, complete with a luxury master bathroom. One of the biggest requests for bedroom remodels is more closet space, often at the expense of bedroom space.

Many homeowners are opting to piggy back one remodeling project off of another to maximize the benefits. For example, if they’re expanding their kitchen, they may opt to build a room addition or expansion above it at the same time. This allows them to save money over doing the projects separately and avoids having to deal with the hassle of remodeling twice.

Following behind kitchen and bathroom remodeling projects is whole-home remodeling, which was fourth on the list of most common remodeling projects for 2014 according to a recent study by the National Association of Home Builders. Homeowners who love their home and don’t want to leave their neighborhood but need a house that is more functional or up-to-date are choosing this option. Whole-home remodeling involves making improvements throughout the house to achieve better functionality and give it more current look. This could involve adding rooms, adjusting the flow of traffic, incorporating aging-in-place features, and even adding a second story to a single-story home.