We all make New Year’s resolutions to improve ourselves. Sometimes, that means forking over about $500 for a yearly fitness center membership.
By March, however, the enthusiasm is gone. The reasons make too much sense:
- That five-block commute to the fitness center is beginning to seem too far.
- Somehow, those stylish gym clothes shrunk in the washing machine.
- Who’s left to impress if you’re working from home?
Then the thought hits you: Working from home … maybe the home itself needs an improvement. Maybe those fitness dues would be best directed toward financing a home renovation project.
But where to start?
A new study by Zillow in a partnership with Realm, a source of actionable home data and insight, has determined the top resolutions for Dallas homeowners in 2022. The top-five projects are the bathroom, kitchen, landscaping, first-floor addition, and deck. Bathroom and kitchen remodel also lead the list in all cities across the U.S.
Nationally, Zillow’s research found that 72 percent of homeowners will consider at least one home improvement project in the coming year, which makes sense considering most people have spent more time than ever in their homes in the past 22 months.
“Most homeowners say they plan to stay in their current home for at least the next three years. And while uncertainty, pandemic precautions, and affordability concerns keep many homeowners in place, most are willing to consider improving their current home,“ Manny Garcia, a population scientist at Zillow, said in a press release.
Half of the homeowners surveyed would consider a bathroom renovation in 2022 with buyers willing to pay a premium for spa-inspired features, such as curbless showers (3.6 percent price premium), heated floors (3.3 percent), and free-standing bathtubs.
Kitchen remodels are next with 46 percent of homeowners saying that would consider a renovation in 2022.
Realm found that projects with the highest return-on-investment potential are low-cost ways to add living space, such as conversion or additions in which the original structure isn’t impacted.
Liz Young, Realm founder and CEO, said homeowners can use her site to prioritize their projects based on their budget, local regulations, weather, trends, and ROI.
“The most popular projects continue to be interior renovations, such as kitchen and bathroom remodels, but outside of those, we see a lot of variance from city to city,” she said.
Who knows? Maybe your next renovation will be a home gymnasium.
