NJ Households Renovation Projects, Study Finds

NEW JERSEY- Need your dream kitchen or bathroom oasis in the garden? From major renovation projects to small repairs around the home, home improvement costs can add up quickly — a new study shows New Jersey residents spend the most on home renovations in the nation.

This study was conducted by investment experts AgentAdvice.comThe census examines data on how much the average household spends on renovations each year – as well as social media data on which home sites are most frequently accessed.

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Renovations have “gained great popularity” because of the global pandemic as homeowners look to expand their living space and add more to their home, real estate expert Chris Heller said. AgentAdvice.com. Huge social media platforms like Instagram feature ideas for renovating, revitalizing, and remodeling your home — not to mention the crowd of home makeover shows on networks like HGTV and TLC, or streaming services.

An AgentAdvice study found that the kitchen and bathroom are far and away the most popular spaces right now, based on Instagram posts in the home renovation category.

“The kitchen is a great place to start any renovation projects as it is the heart of the home and a valuable community space for those looking to buy a new home,” said Heller. “Homeowners who embark on a kitchen renovation could expect to see a 30.7 percent to 85.7 percent return on their investment when they sell their home.”

Each year, New Jersey households spend on home improvements averages at $4,634.24, according to a Census data analysis of spending And if you are one of those homeowners interested in kitchen or bathroom remodeling, it will cost much more than average.

The average price of a kitchen in our area could range from $27,966 for a more minor overhaul, to $164,263 for an upscale kitchen. Bathroom renovations could cost anywhere between $25,468 to $78,935 on average, AgentAdvice.com noted.

Overall, New Jersey was the state where families spent the most, followed by Maryland ($4,516.97), Massachusetts ($4,473.61), Connecticut ($4,356.67), and Hawaii ($4,279.26). Households in Washington, DC pay about $4,304.52 a year for renovations.

The states where families spend the least on home improvement (according to this study) are Mississippi ($2,547.57), Arkansas ($2,705.88), West Virginia ($2,770.12), Louisiana ($2,834.90), and New Mexico ($2,839.70).

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