CHICAGO, February 18, 2022 /PRNewswire/ — The Appraisal Institute, the nation’s largest professional association for real estate appraisers, today encouraged homeowners to focus on energy-efficient, safety-focused, work-accessible home improvement projects when they are looking to potentially improve the value of their property.
“In today’s competitive real estate market, the Appraisal Institute believes that home improvement and remodeling projects are important and sometimes necessary aspects of homeownership when undertaken correctly,” said the president of the Appraisal Institute. Jody BishopMAI, SRA, AI-GRS, “However, not all home improvement projects provide a full return on investment – cost does not necessarily equal value.”
According to Architecture Digest, “10 renovation trends you’ll see a lot of in 2022,” digital interior design was on the rise even before social distancing and working from home became the norm following the outbreak of the COVID pandemic. -19 in 2020 In 2022, the industry is turning to new technologies such as virtual staging, purchasing furniture with 3D models and implementing artificial intelligence products for school, work and to make our homes smarter.
Additionally, the article notes that green homes are a trend to watch. The outbreak of the pandemic has made the importance of health and environmental awareness a priority. Repurposing furniture, repurposing flooring, and embracing sustainable materials and lighting that use less energy will be popular in the coming year. Expect to see eye-catching yet protective landscaping, especially in areas prone to wildfire or flooding, as well as exterior brick or stone walls. There is an ever-increasing focus on sustainable options like bamboo or cork. Rooftop solar panels that go even further in being environmentally friendly can also add value.
Concerns over the pandemic have led to awareness about security and home storage, according to At Bob Villa remodeling trends for 2022 forecast. HVAC units with “whole house” air filtration systems or antimicrobial tiles could also become more common. “Many homes today bring together several generations under one roof, which means adapting to the difficulties that older people may encounter in their daily lives. For this, expect to see many people renovating their homes to grow old at home – in showers, grab bars and non-slip flooring.”
The pandemic has allowed many people to work from home. Although normal life is slowly resuming, many still have the option of working remotely. Homeowners interested in renovating or selling should consider using multi-purpose rooms and up-to-date spaces that can serve as study rooms and work areas, with fast Wi-Fi connections, meeting setups virtual spaces, comfortable seats and plenty of charging stations, according to another 2022 trend prediction. It is essential that the office space is organized, functional and bright. Homeowners should consider simple updates like paint or lighting changes. Instead of using the dining room table or the corner of your bedroom as a space for concentration, expect the trend to shift towards creating spaces dedicated to functionality.
“In today’s competitive marketplace, professional appraisers give homeowners the confidence to make practical home improvement and remodeling decisions that are likely to be financially sound choices,” Bishop said.
Landlords may find it best to delay major renovations if they are unsure how long they will be staying in their property. The longer an owner stays, the greater the possibility of a potential return on investment. However, regardless of the cost, some home improvement projects can be worthwhile simply because they improve the quality of life for the homeowner, Bishop added.
For an unbiased analysis of their home’s value before and after an improvement project, a homeowner can work with a highly qualified real estate appraiser – such as a designated member of the Appraisal Institute – to conduct a feasibility study. .
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The Appraisal Institute, which celebrates its 90th anniversary in 2022, is a global professional association of real estate appraisers, with nearly 17,000 professionals in nearly 50 countries around the world. Its mission is to empower evaluation professionals through community, accreditation, education, body of knowledge and ethical standards. Established in 1932, the Appraisal Institute advocates equal opportunity and non-discrimination in the appraisal profession and conducts its business in accordance with applicable federal, state and local laws. Members of the Appraisal Institute benefit from an array of professional training and advocacy programs and can hold the prestigious MAI, SRPA, SRA, AI-GRS, and AI-RRS designations. Learn more about www.appraisalinstitute.org.
SOURCE Assessment Institute