The Lawhead Team would like to share the latest “One Cool Thing” from the California Association of Realtors on Renovation Realities.

For many California homebuyers, the dream of homeownership isn’t complete after close of escrow, but rather after completion of a full-home renovation. So what does a full remodel look like in California?

• Average remodeling costs: $263,384
• Average household income of renovating homeowner: $155,000
• Average home value of those completing the full renovation: $725, 000
• 93% of homeowner enlist professional help

Did you know? California ranks #3 in a comparison of all 50 states for those completing renovation projects.

Source: Houzz Real Cost Finder

The Lawhead Team would like the share the latest One Cool Thing about The Affordability Squeeze and selling your home.

Home price are up, but many homeowners who have considered selling are deciding not to because they are caught in an affordability squeeze that is compounded by a lack of inventory.

• 35% of homeowners have considered selling their home in the past year
• 64% of that share is reluctant to sell because they are finding they can’t afford the home they really want
• 59% of homeowners have not seriously considered selling their home in the past year
• 60% of those who haven’t considered selling say their current will be their retirement residence

That figure goes up to 70% for those who have been in their home for 15 years

WHAT THEY’RE LOOKING FOR

• 56% of homeowners who have considered selling said they desire a larger home

Source: C.A.R. 2015 Survey of California Homeowners