Press release
New Renovation Calculator on Realtor.com® Takes the Guesswork Out of Home Remodeling Plans
As renovation costs rise, Realtor.com® teams up with Kukun to assist the nearly three quarters of surveyed homeowners who wish they better understood the
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[{"type":"text","content":"As renovation costs rise, Realtor.com® teams up with Kukun to assist the nearly three quarters of surveyed homeowners who wish they better understood the financial return on home improvement projects\nSANTA CLARA, Calif., Sept. 27, 2023 /PRNewswire/ -- Despite the rising cost of renovations, 70% of U.S. homeowners plan to renovate their home in the next year, according to a new survey from Realtor.com® and CensusWide. However, nearly three quarters of those surveyed wish they better understood the potential return on investment of any upgrades they might make. To help homeowners determine the costs and ROI for renovation projects, Realtor.com® today introduced a new Renovation Calculator, powered by Kukun, in the My Home dashboard.\n\nThe newest RealValue™ tool from Realtor.com®, the Renovation Calculator, helps give homeowners a better understanding of how renovations may impact the value of their property. The Renovation Calculator provides information from Kukun, a home data and analytics company that gives homeowners personalized estimates with comparative insights based on the quality of renovations.\n\"Whether homeowners are thinking about selling, or just want to know whether it makes financial sense to invest in home upgrades, Realtor.com®'s RealValue™ tools, including the new Renovation Calculator, can help,\" said Dave Masters, director of product, Realtor.com®. \"Our homes are often our biggest investments and, with the cost of labor and building materials on the rise, it's important to understand the ROI of a home improvement project or how different upgrades or design choices might impact the value of a home.\"\nTo use the new calculator, homeowners can claim their home in the Realtor.com® My Home dashboard and choose from a selection of rooms and projects under the Renovations tab. After entering a few additional details about one or a combination of projects, users are presented with estimated costs to renovate and the potential increase in their home value. Homeowners can also download a detailed report with itemized costs to help with project management.\n\"Kukun is excited to collaborate with Realtor.com® so that millions of people across America can realize their financial goals while creating their dream home at the same time,\" said Raf Howery, CEO and founder of Kukun.\nMost homeowners would rethink reno pl...