Homeowners and renters remodel, redesign, and restructure their home for a variety of reasons. The 2017 Remodeling Impact Report is a collaboration between the National Association of the Remodeling Industry (NARI) and the National Association of Realtors® (NAR). The report takes a deep dive into the reasons for remodeling, the success of taking on projects, and the increased happiness found in the home once a project is completed. It also contains:
• The typical cost of 20 remodeling and replacement projects, as estimated by members of the National Association of the Remodeling Industry (NARI)
• How much appeal each project is likely to have for buyers, according to REALTORS®
• How much REALTORS® estimate that homeowners can recover on the cost of the projects if they sell the home.
For example, the cost recovery for a new steel front door:
•NARI Remodelers’ cost estimate: $2,000.
•REALTORS®’ estimated cost recovered: $1,500.
•Percent of value recovered from the project: 75 percent.