EDM Construction Solutions Encourages Chicago Area Homeowners to Invest in Kitchen and Bathroom Renovations to Boost Home Value in a Growing Remodeling Market

LOCKPORT, IL, UNITED STATES, October 2, 2024 /EINPresswire.com/ -- EDM Construction Solutions, a leading construction and remodeling firm serving Chicago and its suburbs, is encouraging homeowners to consider the impact of kitchen and bathroom renovations on the overall value of their property. As property values continue to evolve, home improvements, particularly in key areas like kitchens and bathrooms, play a crucial role in enhancing a home’s appeal and financial worth.

The Harvard Joint Center for Housing Studies reports that national spending on home improvements is expected to see continued growth, with homeowners prioritizing projects that add long-term value to their properties. Despite economic fluctuations, the market for remodeling and repairs has shown resilience, with expenditures projected to reach $485 billion in 2023, a 2.6% increase from the previous year​. Click HERE to find the study.

** The Value of Kitchen and Bathroom Remodeling

Homeowners often question the types of renovations that offer the highest return on investment (ROI). According to studies conducted by the Joint Center for Housing Studies at Harvard University, projects focused on essential areas such as kitchens and bathrooms not only improve living conditions but also significantly increase a property's marketability and value​.

In 2021, the remodeling and home improvement market expanded by 24%, driven largely by shifts in housing preferences and increased home equity. Such growth highlights a strong correlation between renovation activities and property value appreciation, particularly in the wake of lifestyle changes during the pandemic. With many homes in Chicago’s metropolitan area aging, timely renovations can modernize interiors, enhance energy efficiency, and ensure properties remain competitive in the real estate market.

** Remodeling’s Impact on Home Equity and Sales

Homeowners considering renovations often wonder if such projects justify the investment. The Remodeling Futures Program at Harvard’s Joint Center for Housing Studies has found that well-planned renovations can substantially increase home equity, which is especially beneficial in competitive housing markets like Chicago. Data from the American Housing Survey (AHS) reveals that a majority of homeowners who invested in major renovations saw significant returns, with kitchen and bathroom upgrades consistently ranked among the top projects for ROI.

Carlos Martín, Director of the Remodeling Futures Program, emphasizes that while economic slowdowns and rising interest rates pose challenges, the demand for need-based renovations, such as updating old kitchen layouts or replacing outdated bathroom fixtures, remains steady. This steady demand is particularly evident in older housing stocks across the Midwest, where modernization efforts are necessary to meet current housing standards.

** Key Factors for Chicago Homeowners to Consider

For homeowners in Chicago and surrounding suburbs, certain factors should guide renovation decisions. Chicago’s housing market is characterized by a mix of historical homes and modern developments, each with unique needs. As the Joint Center’s research suggests, remodeling efforts should focus on enhancing functionality and comfort while also considering the architectural integrity of the property.

Key areas of consideration include:

- Energy Efficiency: Upgrading kitchen appliances or bathroom fixtures to energy-efficient models can reduce utility costs and increase a property’s sustainability appeal.
- Accessibility Features: As demographic trends show a growing need for accessibility in home design, remodeling to incorporate features like wider doorways, walk-in showers, and improved lighting can future-proof properties and attract a broader range of buyers.
- Modern Aesthetic and Functionality: Homes with contemporary designs, open kitchen layouts, and updated bathrooms typically see higher buyer interest and faster sales.

** Supporting Community Growth Through Quality Renovations

EDM Construction Solutions is committed to helping homeowners make informed decisions about their renovation projects. The company’s expertise in residential remodeling and dedication to quality ensures that each project not only meets the client’s immediate needs but also contributes to long-term property value appreciation.

“We believe in the transformative power of thoughtful design and high-quality craftsmanship,” says a spokesperson from EDM Construction Solutions. “By focusing on key areas like kitchens and bathrooms, we help our clients build spaces that not only enhance their daily lives but also provide a tangible return on investment.”

** About EDM Construction Solutions

Located in Lockport, IL, EDM Construction Solutions serves homeowners throughout Chicago and its suburbs with a comprehensive range of remodeling services. Specializing in kitchen and bathroom renovations, the company prides itself on delivering exceptional craftsmanship and customer service. For more information about their services and recent projects, visit EDM Construction Solutions.

** Media Contact

For further information or media inquiries, please contact:
Email: contact@edmconstructionsolutions.com
Phone: (630) 881-5666
Website: https://edmconstructionsolutions.com/

Ed Mak
EDM Construction Solutions
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