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References
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Return on Investment
7 Affordable DIY Home Projects to Increase a Home’s Value (MarketWatch, Mar. 8, 2023)
Do it yourself projects like deep cleaning flooring, a fresh coat of paint, new tile or backsplash in the kitchen, upgraded outlets and fixtures, lawncare, and smart home tech can offer great ROI.
The ROI of a Bathroom Remodel in Every State (House Method, Mar. 8, 2023)
- Mid-range bathroom remodeling projects have an average ROI rate of 70%. Upscale renovations have an average ROI of 60%.
- Of the 71% of American homeowners who completed home renovations in 2021, 45% reported renovating their bathrooms.
- A bathroom remodel can up your home’s value by 3%. Minor renovations yield an approximate $1.70 increase in your home’s value for every dollar you spend on the project.
- Nationally, the average bathroom remodel costs $26,574 in 2022 and can expect a return on investment of 60.22%.
- 93% of homeowners reported a better quality of life after a home renovation.
Cost vs. Value (Remodeling, 2023)
This site compares average costs for 22 remodeling projects with the value those projects retain at resale in 150 U.S. markets.
2022 Remodeling Impact Report (National Association of REALTORS®, Apr. 2022)
Home Remodeling ROI: Costs vs. Value: Will That Remodel Really Add Value to Your Home? (Consumer Affairs, Mar. 22, 2022)
Think about which areas of your home prospective buyers care about most when deciding where to invest your remodeling dollars. Consider whether your home renovation will appeal to a niche market.
Home Improvement Tips
Smart Budgeting Tips: Prioritizing Your Home Improvement Project (Henderson Properties, Apr. 2023)
- Establish your priorities
- Research the costs
- Secure financing
- Set your timeline and budget
- Find contractors or plan to DIY
- Handle setbacks
BBB Tip: Home Improvement Scams (Better Business Bureau®, Mar. 30, 2023)
Watch out for red flags, ask for references and check them out, and know the law before you hire a contractor.
Got Half-Done Home Improvement Projects? Here’s Why and How to Finally Finish the Job (realtor.com®, Mar. 20, 2022)
How to evaluate potential projects and plan ahead of time to get them completed.
18 Renovation Apps to Know for Your Next Project (Curbed, May 20, 2020)Apps are available to help with planning, design, professional tips, and provide DIY tools.
Remodeling Statistics and Trends
Home Renovation Facts and Statistics (2023) (Architectural Digest, Mar. 30, 2023)
“Overall, homeowners have increased their home improvement spending and found more satisfaction in improving their living spaces. Despite a predicted decrease in spending in 2023, the home improvement industry should see continued investments in the residential sector. When planning your next home improvement project, consider your potential return on investment and research projects that add overall and long-term value.”
Remodeling in the US - Market Size 2004–2029 (IBIS World, Feb. 21, 2023)
- The market size, measured by revenue, of the Remodeling industry is $110.8bn in 2023.
- The market size of the Remodeling industry is expected to decline -3.4% in 2023.
- The market size of the Remodeling industry in the US has declined 0.5% per year on average between 2018 and 2023.
Interest Rates Cool Pandemic-Era Remodeling Mania (Florida REALTORS®, Jan. 4, 2023)
“Home values remain high, enabling homeowners to amass greater equity, but thanks to higher interest rates, it costs more to tap into that equity through cash-out mortgage refinancings.”
Slight Gains in 2023 Outlook for Residential Remodeling (Joint Center for Housing Studies, Jan. 19, 2023)
“Slowdowns in existing home sales, house price appreciation, and mortgage refinancing activity coupled with growing concerns for a broader economic recession will cool home remodeling activity this year. Homeowners are likely to pull back on high-end discretionary projects and instead focus their spending on necessary replacements and smaller projects in the immediate future.”
NAHB/Westlake Royal Remodeling Market Index (RMI) (National Association of REALTORS® of Home Builders, 2022)
The NAHB/Westlake Royal Remodeling Market Index (RMI) is based on a quarterly survey of NAHB remodeler members that provides insight on current market conditions as well as future indicators for the remodeling market.
Residential Remodelers Industry (United States Residential Remodelers Industry Report, Jan. 1, 2022) E
Remodeling Web Sites
One of the premier home and family sites on the web which includes a page dedicated to decorating tips and more.
The source for the best do-it-yourself tips for home renovations.
Joint Center for Housing Studies
JCHS website has information and research on housing market, demographic, and social trends.
realtor.com® has information on technology, tips, safety and remodeling tools.
National Association of the Remodeling Industry
Consumers can find remodeling tips, how to find a qualified contractor, frequently asked questions, and much more.
eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
Bathroom Remodeling For Dummies (eBook)
Be a Successful Remodeling Contractor (eBook)
The Complete Book of Home Inspection (eBook)
The Complete Idiot’s Guide to Green Building and Remodeling (eBook)
Green Remodeling (eBook)
How to Increase the Value of your Home (eBook)
Remodeled Homes (eBook)
Trips & Traps When Renovating Your Home (eBook)
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
No Regrets Remodeling: How to Create a Comfortable, Healthy Home That Saves Energy (Berkeley, CA: Energy Auditor & Retrofitter, Inc., 2013) TJ163.5.D86 N6
Not So Big Remodeling: Tailoring Your Home for the Way You Really Live (Taunton Press, 2009) TH 4816 Su8
Renovate to Riches (Hoboken, NJ: Wiley, 2004) HF 5438 D88
Improve the Value of Your Home up to $100,000 (Hoboken, NJ: Wiley, 2003) TH 3401 Ir9i
Remodeling Your Home: An Insider's Guide (Washington, DC: Home Builder Press, 1996) TH 4816 N21r
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The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.