6/14/2012 - Renovations undertaken mainly to enhance curb appeal of homes
While remodeling projects can increase the value of a property, many homeowners are undergoing renovations primarily to improve the overall look and feel of their residence, a recent survey suggests.
According to a poll conducted by home improvement website Houzz, among homeowners who are looking to remodel their houses, 86% said they are doing so to improve the aesthetic appeal of their dwelling. Meanwhile, just 47% said they were renovating to increase its value.
Liza Hausman, vice president of marketing for the home remodeling web site, said the results were somewhat surprising given the state of the economy.
"We expected that in this economy Americans' highest priority would be increasing home value, but instead we found people are focused on pleasing themselves, not the next owner," said Hausman. "Homes today are doing double or even triple duty as workplace, stay-cation, gym and more."
The Insurance Information Institute recently reported that home improvement activity is expected to pick up this year and advised homeowners to talk with their property insurance company before implementing any changes.
To learn more about key steps to take when remodeling your home, click here
to visit the Insurance Information Institute.