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WASHINGTON, DC — Kitchen upgrades, complete kitchen renovations and bathroom renovations represent the top three interior remodeling projects that most appeal to potential homebuyers. At the same time, the interior remodeling proj- ects that rank highest on expected value at resale are complete kitchen renovations, kitchen upgrades, bathroom renovations and the addition of a bathroom. Those are among the key fndings of a major new survey by the National Association of Realtors, which concludes that remodeling projects can yield signifcant fnancial and emo- tional benefts to homeowners who choose to remain in their homes, while also enabling home sellers to garner top dollar from buyers. According to NAR's 2015 Remodeling Impact Report, which probed the reasons homeowners choose to remodel (and the increased happiness certain projects bring once they are completed), 64% of surveyed remodeling consumers say they've "experienced increased enjoyment in their home after completing a remodeling project." In addition, 75% of survey respondents said they felt "a major sense of accomplishment" when thinking of their com- pleted project and 74% of respondents said they had "a greater desire to be in their home" after the project was completed, the Washington, DC-based NAR reported (see Figure 1). The 2015 Remodeling Impact Report, whose results were released late last year, surveyed realtors, consumers who've completed their own remodeling projects, and residential remodelers who are members of the National Association of the Remodeling Industry. Realtors named kitchen upgrades, complete kitchen renovations, bathroom renovations and new wood fooring as the interior projects that most appeal to potential buyers. Similarly, realtors also ranked projects based on expected value at resale, without accounting for project price. The projects that ranked the highest in this category were complete kitchen renovations, kitchen upgrades, bathroom renovations and the addition of a bathroom. As for their reasons to undertake a remodeling project, 38% of surveyed consumers said they wanted to upgrade worn-out surfaces, fnishes and materials; 17% wanted to add features and improve livability, and 13% believed it was simply time for a change, according to the NAR (see Figure 2). When examining the interior projects that yield the biggest fnancial results upon resale, realtors ranked hardwood foor- ing refnishes (100% of project cost recovered upon resale), insulation upgrades (95% recovered), new wood fooring (91% recovered) and converting a basement to a living area (69% recovered) as the highest-yielding projects. Bullish on Benefts of Remodeling Source: National Association of Realtors, 2015 Remodeling Impact Report Source: National Association of Realtors, 2015 Remodeling Impact Report 1. CONSUMER FEELINGS AFTER REMODELING IS COMPLETED 2. TOP HOMEOWNER REASONS FOR REMODELING Have a Greater Desire to be in their Home Have Increased Enjoyment of their Home Feel a Major Sense of Accomplishment 75% 74% 64% To Upgrade Worn-out Surfaces, Finishes and Materials To Add Features and Improve Livability Because it is Simply Time for a Change 38% 17% 13% February 2016 • KitchenBathDesign.com 11 CONSUMER BUYING TRENDS DEMOGRAPHICS & BUYING PATTERNS FOR THE HOME SALES GROUP SALES DIRECTOR AND MIDWEST MANAGER Paul DeGrandis (847) 920-9510 Paul@SOLAbrands.com EAST/SOUTHEAST Joanne Naylor (201) 891-9170 Joanne@SOLAbrands.com Beth Emerich (781) 710-4745 EmerichB@SOLAbrands.com WEST/SOUTHWEST Paul DeGrandis (847) 920-9510 Paul@SOLAbrands.com PRODUCT & LITERATURE SHOWCASE/CLASSIFIED ADS Mike Serino (630) 699-2004 Mike@SOLAbrands.com EDITORIAL Janice Anne Costa , Editor (516) 605-1426 Janice@SOLAbrands.com Anita Shaw , Managing Editor (631) 581-2029 Anita@SOLAbrands.com Ashley Lapin Olian , Associate Editor (312) 685-1334 Ashley@SOLAbrands.com PUBLISHING SOLA GROUP, INC. 724 12TH ST., SUITE 1W WILMETTE, IL 60091 (847) 920-9510 Paul DeGrandis , Publisher Paul@SOLAbrands.com Eliot Sefrin , Publisher Emeritus Eliot@SOLAbrands.com SUBSCRIPTIONS Kitchen & Bath Design News Circulation Dept. P.O. Box 3007 Northbrook, IL 60065-3007 (866) 932-5904 circ.kbdn@omeda.com MAILING LIST RENTAL Elizabeth Jackson (847) 492-1350 ext. 18 ejackson@meritdirect.com KitchenBathDesign.com ®