Home Improvements

At the end of May, 2014 NAHB released the estimates of improvements made to owner-occupied housing in 2014. This information was created using the following data:

• Number of homes in the area
• The share built in the ’60s
• Share built in the ’70s
• Owners average income and
• Level of education

Nationally, the average total spending on improvements in a zip code is projected to be about $5.1 million. Zip code, #20854 in Maryland near DC, was the only zip code predicted to spend over $60 million in home improvements.

The top five zip codes in the nation for home improvements share the following variables:

• There are at least 15,000 owner-occupied homes
• Homeowners average at least $145,000 in average annual income
• 60%+ of homeowners are college educated

Here are the figures for WA state:

• Number of homes owner-occupied: 1690,642
• Total Improvements: $3,203.4
• Improvements per home: $1,895 ($1,600 is the average for the US)

When a remodel is done right it can bring an excellent return on your investment and provide you with a comfortable home to enjoy for years to come.   If you are thinking about home improvements as an investment or simply to improve your home, please contact me at (206) 370-0043 or send an email to soldbyliznettles@gmail.com or Bruce 206-818-8233, bruce@vandervlies.org to learn more.

Source: http://eyeonhousing.org/2014/05/26/remodeling-by-zip-code-nahb-releases-2014-projections/