(BPT) - Americans are renovating again, and instead of letting resale value alone drive their renovation choices, in 2014 homeowners are weighing many more factors. They are seeking renovations that are beautiful, luxurious and eco-friendly, and that both enhance resale value and their ability to age in place should they choose not to sell down the road.
In a recent survey by real estate website Houzz, 41 percent of American homeowners said they were more likely to remodel than move over the next two years. The renovation motivators included the desire to improve the look and feel of their spaces (78 percent), improve functionality (54 percent), boost home value (52 percent) and improve overall energy efficiency.
A Dwell Insights Group survey confirms the importance today’s homeowners place on good design. The survey found that respondents were cost and value conscious, environmentally aware and at the forefront of trends. What’s more, 44 percent said they planned a major home renovation over the next 12 months.
Across all demographic groups, bathroom renovations continue to be among the most popular projects, affording one of the highest returns on investment at the time of resale, Remodeling Magazine’s Cost vs. Value Report indicates. The value of a bathroom remodel increased 10 percent in 2014, the magazine reports, and a mid-range project recoups nearly 73 percent of the investment; an upscale bathroom remodel returns nearly 64 percent of its cost.
Bathrooms have long been a focal point where function, luxury and enjoyment converge in American houses. If you’re considering a bathroom renovation, here are some key points to keep in mind:
Conservation meets style
The green movement continues to gain momentum across virtually every aspect of American life, and home improvement is certainly no exception. Yet, environmentally aware homeowners are unwilling to sacrifice quality and beauty to go green – and they don’t have to, either.
High-efficiency, eco-friendly, water-saving designs can be found in every key bathroom fixture from faucets and showers to commodes and bathtubs. Manufacturers like TOTO are creating smartly designed products that offer clean, comfortable refreshment in timeless designs meshed perfectly with leading-edge technology.
Inspired by the beautiful lines of the Art Deco era, TOTO’s Connelly Widespread Lavatory Faucet exemplifies the marriage of timeless design and good water sense. Available in a variety of popular finishes including polished chrome, polished nickel and brushed nickel, the high-efficiency faucet consumes just 1.5 gallons of water per minute – qualifying it for the WaterSense label – without sacrificing performance.
Technology, good looks and conservation also characterize the NEOREST 550H dual-flush toilets. Auto-open/close, auto-flush and an integrated warm-water cleansing system and warm air dryer make these products luxurious and intelligent choices; as more Americans seek to age in place, such enhancements can make personal care easier and more comfortable now—and as homeowners grow older and their abilities change.
Fifty-four percent of homeowners say they will renovate to make their homes more functional, and 20 percent to accommodate changing lifestyle needs, according to the Houzz survey. Americans embrace the idea of remaining independent in their own homes for as long as they can; 90 percent of people 65 and older say they want to stay in their homes as long as possible, according to AARP.
Additionally, many homeowners don’t wish to sacrifice beauty, efficiency and luxury in order to accommodate the mobility and ability changes associated with growing older. Bathroom renovations afford them the opportunity to create a space that is both appealing and secure.
When renovating a bathroom with an eye toward luxury and aging in place, homeowners are incorporating features that can adapt to their changing needs. Lighting, flooring and fixtures can all influence how welcoming a bathroom is now and how practical it will be as its users age. Products like TOTO’s Aimes Ceiling-Mount Showerhead with LED Lighting blend classic style with luxury and practicality. The ceiling-mounted design ensures a relaxing rainfall experience, and the Ecopower LED lighting system provides gentle, soothing illumination.
While resale value will always be a consideration when renovating, greater availability of energy-efficient, beautiful products is making it easier for homeowners to also meet their other renovation goals – including creating a beautiful space that will age gracefully.