Source: World Property Journal —
According to new findings in the 2022 Remodeling Impact Report, a joint study from the National Association of Realtors and the National Association of the Remodeling Industry, U.S. households saw homeowners and families embark on a wide variety of renovations and remodeling projects over the past year.
This year’s report analyzes a number of home improvement aspects, including why people decide to remodel, the general costs of specific remodeling tasks, and the fulfillment experienced after a successful project has been completed.
“Our study revealed that homeowners tend to undertake a remodeling project for any number of reasons,” said Jessica Lautz, vice president of demographics and behavioral insights at NAR. “In some instances, homeowners were content with sprucing up a room with a simple paint job, while in other cases, families decided to take on the task of renovating an entire attic or basement to add additional living space to their home.”