An Impending Recession Won’t Stop Home Remodeling Projects

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Being cooped up indoors for months on end due to a raging pandemic is no fun, that is to be sure. However, 76% of real estate agents who have participated in HomeLight’s Q3 2020 survey said their clients are taking on these remodeling projects, which are in high demand among buyers. 

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Home gym and sauna

For those who like to stay in shape and used to go to the gym on a regular basis, you might want to consider building a home gym. And if you’re looking for a relaxing way to find some inner peace, consider a home sauna, as well!

About half of the agents surveyed (51% to be precise) said their clients are building a home gym and 42% of agents said their clients are building a home sauna. What’s great about these reno projects is that they add value to your home, too!

Outdoor living space

One of the best things about owning a home is being able to enjoy the sunshine and fresh air. Although you can do that regardless of whether or not you have a designated outdoor living space, 20% of agents say that their clients are interested in patios, balconies, decks and other alfresco dining areas. 

In-law suite additions

Due to the pandemic, people are leary about putting their elderly relatives in a retirement facility and instead, they are moving their loved ones into their homes. Homeowners could put their loved ones in a spare bedroom, but 26% of homeowners are choosing to build a dedicated space just for their loved ones. 

In-law suites can feature just a bedroom with an attached bathroom, but some homeowners are going the extra mile and creating a studio apartment, complete with a small kitchenette and more living space. 

In-ground pool

One of the best ways to get some exercise or keeping the kids entertained is swimming! During previous summers, families would go to the beach or a public pool, but 51% of agents reveal that their clients really want a home with an in-ground swimming pool. 

And who could blame them? By having your own pool, you can go swimming whenever you want, you don’t have to worry about big crowds, and you can use as many floaties as you’d like!

Oh, and you can expect to recoup about half of the cost when you want to put your house on the market!

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