Quantcast
Channel: Homes – MediaFeed
Viewing all articles
Browse latest Browse all 79

How to plan the perfect bathroom remodel

$
0
0

 

A bathroom remodel is one of the most challenging projects you can take on in your home. Bathroom remodel costs range from modest cosmetic updates ($3k) to full gut renos ($30k), with the national average coming in at $11k.

 

Your bathroom budget will greatly depend on the purpose of your remodel. Whatever you have in mind, these 10 steps can help you plan appropriately, anticipate problems, and ensure you end up with a room you love.

Why Homeowners Remodel Bathrooms

There are several potential reasons behind a homeowner’s decision to remodel a bathroom. For some people, it might be a combination of reasons.

Updating the Look

Happy with the layout of your current bathroom and feel it just needs a refresh? Focus your attention on material selection, and perhaps add new cabinetry or plumbing fixtures. You can find lots of ingenious ideas online for how to make a small bathroom look bigger.

 

You’ll still want to pay attention to the age of your home and the remodels done by previous homeowners. After all, laying new tile over a foundation rife with mold or making do with an outdated electrical system is inviting big problems down the road.

 

It’s best to tackle essential updates first. If your budget doesn’t allow for a full reno, you might want to hold off until you have the money to do the job right.

 

Recommended: 32 Inexpensive Ways to Refresh Your Home

Resale Value

If you’re updating your bathroom in preparation for selling your home, think about what potential buyers might look for. While it’s impossible to anticipate what one random buyer might want in a new home, you can research your local real estate market to learn what appeals to the majority of homeowners.

 

You also can find out the resale value of bathroom remodels by using SoFi’s Home Project Value Estimator.

Better Functionality and More Storage

Perhaps you’ve always hated how the door hits the vanity as it swings open. Or you’re tired of stacking toilet paper on the toilet tank and seeing makeup on the counter. Maybe you never use the bathtub and long for a large shower stall, or wish for two sinks instead of one to expedite the family’s morning rush. Or it’s possible your bathroom is a dark, moist cave, crying out for natural light and better ventilation.

 

This level of bathroom remodel will likely have you gutting the entire space, possibly rearranging the fixtures and rerouting plumbing. Not only will your bathroom be brand new in that case, it could be higher end, too.

Here are the 10 steps to take while planning your perfect bathroom remodel.

1. Determine What Your Bathroom Remodel Should Achieve

When embarking on any project that requires a good chunk of time and cash, you want to determine what the overall goal is for your bathroom remodel. Is it to expand the existing space? To add a shower or a tub? To improve your home’s value? Or to update a vintage bathroom to one that is more modern in design and functionality?

 

All of these answers will factor into your design and budget. Other considerations to make when planning a bathroom remodel include:

  • How many people will use the room?
  • How much time do you spend in the bathroom in the morning, afternoon, and evening?
  • What’s your routine — how does your current space hinder it, and how could a new space improve it?
  • Do you just want something that’s easy to clean? Or do you want to improve the look for resale?

2. Research and Budget

Before you get too far with planning, it’s good to know how much bathroom you can afford. Even if you have a ballpark figure in mind, you’ll want to understand how much a full bathroom remodel is going to cost in the end.

 

A bathroom remodel typically costs between $3,000 and $30,000, with $11,000 the national average. Before proceeding with your dream plans, first think about whether you’re after a basic update, a mid-to upper-range remodel, or a deluxe spa getaway. Factor in a cushion of 20% for unforeseen costs.

 

To keep costs down, avoid moving the existing plumbing and wiring. Some homeowners focus on just a shower remodel, which can run from $1,100 to $5,500. To get a sense of how much it would cost to update your home use our Home Improvement Cost Calculator.

3. Hire a Designer Who Loves Bathroom Remodels

Given the complexity of rerouting plumbing, laying tile and flooring, and installing vanities and toilets, you may need to hire a few different professionals to get the job done:

  • Interior designer, to reimagine the space and source materials
  • Architect, to handle structural changes
  • Plumber
  • Electrician
  • Tile installer
  • General contractor, to manage them all

What exactly will all these folks be doing, besides spending your money? We’ll walk you through it.

 

First, a professional interior designer will think of things a homeowner will not. For instance: which way the cabinet doors open, if there’s room for a washer/dryer, how a skylight could brighten the space, or ways to rearrange the room in a creative way that maximizes both functionality and efficiency.

 

On the other hand, if you know what you want and where to find the products you need — and you have at least some DIY experience — then you might take on the design process yourself.

 

general contractor will hire and supervise the various subcontractors, and keep the project on schedule and on budget. If you’re very comfortable tackling the demolition, construction, and installation, you may not need a general contractor.

 

Just remember that once you start exposing layers of old work, a straightforward update can devolve into something more complex.

 

For major structural changes, you’ll want to hire an architect, and consider bringing in an experienced plumber and electrician, too. In some places, it’s required by law.

 

While you’re keeping an eye on the budget, don’t forget about your valuable time. Even with DIY experience, a bathroom remodel can take homeowners several times as long as a professional to complete — and your results may not be up to your high standards.

 

Don’t hesitate to bring in hired help as needed. To keep your budget on track, you can still agree to take on simpler tasks like demo and painting.

4. Refine Your Bathroom Remodel Plan

If your dream bathroom doesn’t seem as though it could ever fit in the space you have, think about what’s on the other side of the bathroom walls. Can you steal square footage from an adjacent closet, adjoining bedroom, or underused hallway? Is it possible to punch out an exterior wall to add square footage?

 

Other options to consider: whether you want the toilet out in the open or housed in its own private water closet, and what kind of special storage you need — for hair tools, makeup, and other everyday essentials?

 

Choosing the style of bathroom you want can also be complicated. You may love the look of the industrial-style bathroom in your favorite restaurant, but will it look right in your Craftsman bungalow? Designers recommend that you look to the rest of your house for inspiration or consult resources like Pinterest for ideas.

5. Approve Your Bathroom Remodel Design

Next, you’ll consult with your interior designer and/or architect to review preliminary floor plans and sketches. These will show how the room’s components — shower, vanity, any cabinetry — fit in the space.

 

At this point, you’ll focus on the big picture: where the major elements go and the functionality of the space. Don’t worry about the finishing touches like colors and materials. These drawings and scope of work will be used to interview contractors and solicit estimates.

 

Once the measurements are nailed down, you’ll know how many square feet of tile you’ll have to order or how big of a marble slab you’ll want for the countertop. You or your designer can use this information to start shopping around for the best price on materials.

6. Choose Your Bathroom Materials, Finishes, and Colors

Now it’s time to research materials, so you’ll have a basic knowledge of what you need and how much it will cost. Marble may look great, but it’s not stain-resistant and so is a pain to maintain.

 

Maybe you want to look at easy-to-clean options. Or perhaps you didn’t know that wood can indeed work for countertops in bathrooms if properly treated. Or you weren’t aware of the vast stone possibilities that could work with your design.

7. Work on Design Development and Construction Documents

At this stage, you should be actively reviewing the floor plan, elevations, tile layout, and any other relevant drawings associated with your project. More planning on the front end of the project means fewer mistakes will arise later in the process.

 

You’ll also want to be kept up to speed on everything that goes into your project: what materials will be used and how they will be laid out. If something in construction drawings isn’t specified — such as general tile layout or how you want trim pieces in your shower niche to look — chances are your tile installer will make a decision on the spot, especially if you’re not around on the install day.

 

This stage will also involve pulling permits. If you’re working with a knowledgeable contractor, they will likely take this on. Many are skilled at navigating the process with contacts they’ve made at the local planning office. If you’re doing much of the work yourself, you’ll need to brush up on what permits you’ll need, and where and how to submit drawings for approval.

8. Get Estimates From Contractors

It’s a common process to get three separate estimates from licensed contractors for each home remodel project in which you bring in professional help. If you’re already working with a designer, he or she may know skilled contractors or can help you interview professionals to make sure they’re right for the job.

 

It helps to know about what goes into a contractor’s bid. Don’t let the highest bid scare you, and don’t immediately jump on the lowest bid.

9. Plan for Installation and Prepare for Bathroom Demo

In an ideal world, you will have every last detail planned and every material picked out and ordered before construction starts. The last thing you want is to get halfway through your remodel and have to tell your construction crew to take a two-week break while you wait for that back-ordered marble to arrive from Italy.

 

You’ll want to nail down the nuts and bolts of how construction will flow and where supplies will be stored. You’ll need a dry space inside for most materials, so you’ll need to decide where you’re going to keep displaced furniture and household items while construction is underway. Can you make space in your garage or on the side of your house?

 

Other questions to consider:

  • Are you prepared for the disruption?
  • What time will the workers be there, and will someone be on-site to answer questions and oversee the construction?
  • Will it affect your work schedule or any trips planned?
  • Where will you shower during construction?
  • Do you have an alternate place to stay should the inconvenience of not having a bathroom become too much?
  • Who in your family will be available should a construction question come up?
  • Think about how long the crew will be there and if the materials will arrive in time.

Any last-minute decisions need to take top priority to ensure a smooth-running bathroom remodel that stays on budget and on time.

10. Make a Post-Completion Punch List

The National Kitchen & Bath Association recommends that you keep all receipts, contracts, warranties, and product information for every major purchase so that you understand how to care for and maintain the materials.

 

Nevertheless, it’s highly likely that something with your bathroom remodel will go wrong. Maybe you overlooked something, materials arrived broken or scratched or not at all, there’s a dent in the wall, or the caulk was too messy.

 

Now is the time to make a list of these things, either in an informal email or more formal document with your contractor. Get it into the hands of the person responsible for correcting the mistakes and include a date by which the fixes and finish work should be completed.

 

It’s normal for a contractor to return several times to address any post-project concerns, so try not to worry. Everyone makes little mistakes in a big, complicated project like a bathroom remodel. Just hold off making your final payment until the problems are fixed.

The Takeaway

Bathroom remodel costs can vary widely from $3k to $30k, with the average about $11k for a full bathroom. Most of your money will be going to labor (typically $50–$70/hour) rather than materials. To keep costs down, take the time to plan meticulously and get multiple bids from contractors.

 

Learn More:

This article originally appeared on SoFi.com and was syndicated by MediaFeed.org.

 

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891  (Member FDIC), and by SoFi Lending Corp. NMLS #1121636  , a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law (License # 6054612) and by other states. For additional product-specific legal and licensing information, see SoFi. Equal Housing Lender.
Third-Party Brand Mentions: No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s
website  
.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

More from MediaFeed:

Mortgage rates & foreclosures are soaring. Here’s where they’re worst

 

With foreclosure activity up steadily between July and August, the experts at ATTOM Data Solutions consider this a sign that foreclosure starts are returning to 2019 levels–foreclosure starts in August 2022 were over 85% of what they were in August 2019.

 

While foreclosure activity has been on the rise since the expiration of pandemic relief programs, the good news is that experts believe repossessions will be even lower than before the pandemic due to a majority of borrowers in foreclosure having positive equity in their homes. This means that borrowers can sell their properties at a profit and avoid foreclosure auctions or lender repossessions.

 

Despite mortgage interest rates blasting through the 6% threshold for the first time in roughly 14 years, and fears of a recession continuing to make headlines, home prices show no signs of dramatically cooling off. For instance, the July 2022 median U.S. home price of $403,800 was nearly 11% higher than the $364,600 median U.S. home price in July 2021. At the same time, the housing supply remains at a deficit, which experts expect to continue for the foreseeable future due to a combination of factors, such as a shortage of construction labor, zoning restrictions, and raw material costs.

 

The overall rate of foreclosure filings increased by close to 14% between July and August. This uptick follows the dip in foreclosure activity between June and July, which experts believed was likely related to a typical Q3 seasonal drop. The number of U.S. properties with foreclosure filings in August was 34,501, according to ATTOM Data Solutions. This is up close to 118% from a year ago when foreclosures remained at historic lows due to federal government and mortgage servicing industry pandemic protections.

 

Read on for the foreclosure rates in August 2022 – plus the five counties with the highest rates within those states.

 

Related: The safest cities in the US

 

DepositPhotos.com

 

As noted, foreclosure rates rose steadily compared to last month, but are up significantly compared to last year. Read on for August foreclosure rates for all 50 states — plus the District of Columbia — beginning with the state that had the lowest rate of foreclosure filings per housing unit.

 

 

DepositPhotos.com

 

Ranking in population between Vermont and Alaska, the country’s 49th and 48th least populated states, Washington, D.C. had 30 foreclosures in August. With a total of 350,364 housing units, Washington, D.C.’s foreclosure rate was one in every 11,679 households, putting it in between the states of Kentucky (#46) and Nebraska (#45).

 

 

DepositPhotos.com

 

In 49th place for population, Vermont claimed the 50th spot for its foreclosure rate. Of the Green Mountain State’s 334,318 housing units, three homes went into foreclosure at a rate of one in every 111,439 households. Only three counties saw foreclosures. The counties with the most foreclosures per housing unit were (from highest to lowest): Grand Isle, Lamoille, and Windham.

 

 

DenisTangneyJr

 

North Dakota’s foreclosure rate was one in every 37,064 homes. That puts the fourth least populated state – with 370,642 housing units and 10 foreclosures — in 49th place. Only four counties saw foreclosures. The counties with the most foreclosures per housing unit were (from highest to lowest): Cass, Morton, Ward, and Grand Forks.

 

 

sequential5

 

South Dakota slipped to the 48th spot in August. Having 389,921 total housing units, the fifth least populated state had a foreclosure rate of one in every 35,447 households with 11 foreclosures. The counties with the most foreclosures per housing unit were (from highest to lowest): Faulk, Mccook, Codington, Clay, and Minnehaha.

 

 

RiverNorthPhotography

 

The 39th most populated state, West Virginia, ranked 47th once again. It has 855,635 homes, of which 58 went into foreclosure. That means the foreclosure rate was one in every 14,752 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Marion, Kanawha, Upshur, Raleigh, and Wayne.

 

 

 

istockphoto

 

With a total 1,994,323 housing units, Kentucky saw 148 homes go into foreclosure. That put the foreclosure rate for the 26th most populated state at one in every 13,475 households and in 46th place. The counties with the most foreclosures per housing unit were (from highest to lowest): Hardin, Estill, Muhlenberg, Campbell, and Lyon.

 

 

Thomas Kelley

 

Ranked 37th for population, Nebraska claimed the 45th spot with a foreclosure rate of one in every 10,172 homes. With a total 844,278 housing units, the state had 83 foreclosure filings. The counties with the most foreclosures per housing unit were (from highest to lowest): Deuel, Garfield, Gosper, Cherry, and Kimball.

 

 

marekuliasz

 

The 44th most populated state took the 44th spot. With 51 foreclosures out of 514,803 housing units, its foreclosure rate was one in every 10,094 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Wheatland, Roosevelt, Sheridan, Dawson, and ​​Big Horn.

 

 

YinYang

 

The 38th most populated state, Idaho had 78 homes go into foreclosure. With 751,859 total housing units, the state’s foreclosure rate was one in every 9,639 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Shoshone, Washington, Fremont, Nez Perce, and Benewah.

 

 

knowlesgallery

 

With 299 foreclosures out of 2,727,726 total housing units, Wisconsin, the 20th most populated state, had a foreclosure rate of one in every 9,123 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Douglas, Pepin, Clark, Forest, and Taylor.

 

 

FierceAbin

 

Ranked 13th for most populated state, Washington came in 41st place for highest foreclosure rate. It has 3,202,241 housing units, of which 362 went into foreclosure, making the state’s foreclosure rate one in every 8,846 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Pend Oreille, Mason, Cowlitz, Lewis, and Benton.

 

Recommended: Tips on Buying a Foreclosed Home

 

4nadia

 

The 27th most populated state ranked 40th for highest foreclosure rate. Of Oregon’s 1,813,747 homes, 219 went into foreclosure, making for a foreclosure rate of one in every 8,282 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Grant, Columbia, Multnomah, Linn, and Clackamas.

 

 

HaizhanZheng

 

Ranked 33rd for most populated state, Arkansas took the 39th spot for highest foreclosure rate. It has 1,365,265 housing units, of which 177 went into foreclosure, making the state’s latest foreclosure rate one in every 7,713 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Saint Francis, Calhoun, Poinsett, Hot Spring, and Sharp.

 

 

 

Rdlamkin

 

The 41st most populated state, New Hampshire, ranked 38th for highest foreclosure rate. Of 638,795 homes, 84 went into foreclosure, making for a foreclosure rate of one in every 7,605 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Cheshire, Sullivan, Strafford, Carroll, and Merrimack.

 

 

DenisTangneyJr

 

The 40th most populated state, Hawaii, came in 37th for highest foreclosure rate. Of 561,066 homes, 75 went into foreclosure, making for a foreclosure rate of one in every 7,481 households. Only three counties in the state had foreclosures. They were (from highest to lowest): Honolulu, Hawaii, and Maui.

 

 

Art Wager

 

The 15th most populated state ranked 36th for highest foreclosure rate. Of Massachusetts’ 2,998,537 housing units, 414 went into foreclosure, making for a foreclosure rate of one in every 7,243 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Hampden, Berkshire, Plymouth, Franklin, and Worcester.

 

 

Rolf_52

 

The 36th most populated state took the 35th spot for highest foreclosure rate. Of its 940,859 homes, 133 went into foreclosure, making for a foreclosure rate of one in every 7,074 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Chaves, Cibola, Colfax, Sandoval, and Valencia.

 

 

Davel5957

 

In Mississippi, the 34th most populated state, there were 189 foreclosures out of 1,319,945 housing units. That put the foreclosure rate at one in every 6,984 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Sharkey, Coahoma, Jackson, Clay, and Marshall.

 

 

stevegeer

 

The 19th most populated state, Missouri came in 33rd for highest rate of foreclosures. Of its 2,786,621 homes, 411 went into foreclosure, making for a foreclosure rate of one in every 6,780 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Pulaski, Lafayette, Caldwell, Holt, and Dallas.

 

 

eyecrave

 

In Arizona, the 14th most populated state, there were 489 foreclosures out of 3,082,000 housing units–the same as July. That put the foreclosure rate, once again, at one in every 6,303 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Graham, Cochise, Pinal, Mohave, and Yavapai.

 

 

wanderluster

 

Pennsylvania had the 31st highest foreclosure rate. The fifth most populated state had a total of 963 housing units out of 5,742,828 homes go into foreclosure, making the state’s foreclosure rate one in every 5,963 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Delaware, Bucks, Wyoming, Berks, and Montgomery.

 

Recommended: What Is a Short Sale?

 

AppalachianViews

 

Ranked 22nd for most populated state, Minnesota took the 30th spot for highest foreclosure rate. It has 2,485,558 housing units, of which 422 went into foreclosure, making the state’s foreclosure rate one in every 5,890 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Faribault, Sherburne, Fillmore, Rice, and Anoka.

 

 

JoeChristensen

 

In Tennessee, the 16th most populated state, there were 524 foreclosures out of 3,031,605 housing units. That put the foreclosure rate at one in every 5,786 homes and in the 29th spot. The counties with the most foreclosures per housing unit were (from highest to lowest): Mcnairy, Humphreys, Roane, Hancock, and Haywood.

 

 

 

Swarmcatcher

 

The 21st most populated state ranked 28th for highest foreclosure rate. Of Colorado’s 2,491,404 housing units, 432 went into foreclosure, making for a foreclosure rate of one in every 5,767 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Pueblo, Morgan, Adams, Weld, and Alamosa.

 

 

Postoak at English Wikipedia

 

Ranked 25th for population, Louisiana took the 27th spot, with 365 homes out of a total of 2,073,200 housing units going into foreclosure. That means Louisiana had a foreclosure rate of one in every 5,680 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Livingston, La Salle, Tangipahoa, Ascension, and West Baton Rouge.

 

 

 

DenisTangneyJr

 

Utah placed 26th for highest foreclosure rate. Of the Beehive State’s 1,151,414 housing units, 206 homes went into foreclosure, making the 30th most-populated state’s foreclosure rate one in every 5,589 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Juab, Tooele, Sanpete, Box Elder, and Sevier.

 

AndreyKrav

 

Kansas took the 25th spot. With 1,275,689 homes and a total of 231 housing units going into foreclosure, the 35th most-populated state’s foreclosure rate was one in every 5,522 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Wyandotte, Cowley, Geary, Osage, and Butler.

 

 

Michael Pham

 

Ranked as the ninth least populated state, Maine placed 24th for highest foreclosure rate. With a total of 739,072 housing units, the Pine Tree State saw 136 foreclosures for a foreclosure rate of one in every 5,434 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Somerset, Waldo, Penobscot, Knox, and Aroostook.

 

 

DepositPhotos.com

 

The eighth least populated state took the 23rd spot for highest foreclosure rate. A total of 91 homes went into foreclosure out of 483,474 total housing units, making the foreclosure rate for the Ocean State one in every 5,313 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Kent, Bristol, Newport, and Washington.

 

 

danlogan

 

Ranked the least populated state in the country, Wyoming claimed the 22nd spot for highest foreclosure rate. With 271,887 housing units, of which 53 went into foreclosure, the state’s foreclosure rate was one in every 5,130 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Carbon, Platte, Natrona, Sweetwater, and Campbell.

 

 

AnujSahaiPhotography

 

The 12th most populated state ranked 21st for highest foreclosure rate, with 728 homes going into foreclosure. Having 3,618,247 total housing units, the state saw a foreclosure rate of one in every 4,970 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Portsmouth City, Waynesboro City, Hopewell City, Charlotte, and Covington City.

 

Recommended: 4 Signs You May Be Ready to Buy

 

 

DenisTangneyJr

 

Ranked 24th for most populated, Alabama came in 20th for highest foreclosure rate. Of its 2,288,330 homes, 489 went into foreclosure, making for a foreclosure rate of one in every 4,680 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Henry, Houston, Cherokee, Calhoun, and Elmore.

 

 

James Deitsch

 

Alaska saw 69 foreclosures, making the foreclosure rate one in every 4,602 homes. That caused the third least populated state, with a total of 317,524 housing units, to take the 19th spot. The counties with the most foreclosures per housing unit were (from highest to lowest): Anchorage, Ketchikan Gateway, Matanuska-Susitna, Fairbanks North Star, and Kenai Peninsula.

 

 

Chilkoot

 

The Lone Star State saw 2,538 foreclosures. With a foreclosure rate of one in every 4,566 households, this put the second most populous state with 11,589,324 housing units into the 18th spot. The counties with the most foreclosures per housing unit were (from highest to lowest): Liberty, Wilbarger, Atascosa, Franklin, and Hardeman.

 

 

DenisTangneyJr

 

Iowa had the 17th highest foreclosure rate. With 320 housing units out of 1,412,789 homes going into foreclosure, the 31st most populated state’s foreclosure rate was one in every 4,415 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Guthrie, Wayne, Calhoun, Clinton, and Adams.

 

 

JoeChristensen

 

Oklahoma claimed the 16th spot. With housing units totaling 1,746,807, the 28th most populated state saw 400 homes go into foreclosure at a rate of one in every 4,367 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Canadian, Kingfisher, Oklahoma, Cleveland, and Ottawa.

 

 

 

DepositPhotos.com

 

With 363 of its 1,530,197 homes going into foreclosure, Connecticut had the 15th highest foreclosure rate at one in every 4,215 households. In the 29th most populated state, the counties that had the most foreclosures per housing unit were (from highest to lowest): New Haven, Hartford, Windham, Fairfield, and Litchfield.

 

 

traveler1116

 

Ranking 10th in population, Michigan took the 14th spot with a foreclosure rate of one in every 4,002 homes. With a total of 4,570,173 housing units, the state had 1,142 foreclosure filings. The counties with the most foreclosures per housing unit were (from highest to lowest): Muskegon, Van Buren, Cass, Berrien, and Saint Joseph.

 

 

haveseen

 

The eighth most populated state, Georgia ranked 13th for highest foreclosure rate. Of its 4,410,956 homes, 1,161 were foreclosed on. That put the state’s foreclosure rate at one in every 3,799 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Richmond, Pulaski, Elbert, Candler, and Liberty.

 

 

SeanPavonePhoto

 

With 2,295 out of a total 8,488,066 housing units going into foreclosure, the fourth most populated state took the 12th spot. New York’s foreclosure rate was one in every 3,699 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Steuben, Seneca, Washington, Livingston, and Putnam.

 

 

Boogich

 

The ninth most populated state took 11th place for highest foreclosure rate. Out of 4,708,710 homes, 1,282 went into foreclosure. That put the Tar Heel State’s foreclosure rate at one in every 3,673 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Gates, Onslow, Pasquotank, Jones, and Columbus.

 

Recommended: Your 2022 Guide to All Things Home

 

haveseen

 

The country’s most populated state ranked 10th for highest foreclosure rate. Of its 14,392,140 housing units, 4,241 went into foreclosure, making California’s foreclosure rate one in every 3,394 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Lake, Trinity, Kern, Merced, and Yuba.

 

 

mlauffen

 

Ranking 32nd in population, Nevada took the ninth spot for foreclosure rate. With one in every 3,380 homes going into foreclosure, and a total of 1,281,018 housing units, the state had 379 foreclosure filings. The counties with the most foreclosures per housing unit were (from highest to lowest): Clark, Elko, Humboldt, Nye, and Washoe.

 

 

AlizadaStudios

 

Ranked 18th for most populated state, Maryland took eighth place for highest foreclosure rate. With a total of 2,530,844 housing units, of which 775 housing units went into foreclosure, the state’s foreclosure rate was one in every 3,266 households. The counties with the most foreclosures per housing unit were (from highest to lowest): Charles, Saint Marys, Cecil, Prince George’s County, and Washington.

 

 

James_Lane

 

The 17th largest state by population, Indiana took the seventh spot with a foreclosure rate of one in every 3,120 homes. Of its 2,923,175 homes, 937 homes were foreclosed on in August. The counties with the most foreclosures per housing unit were (from highest to lowest): Blackford, Vigo, St Joseph, Wayne, and Noble.

 

 

f11photo

 

Ohio took sixth place in August with a foreclosure rate of one in every 2,955 homes. With a total of 5,242,524 housing units, the seventh most populated state had a total of 1,774 filings. The counties with the most foreclosures per housing unit were (from highest to lowest): Cuyahoga, Pickaway, Paulding, Fairfield, and Preble.

 

 

dypics

 

The third most populated state in the country has a total of 9,865,350 housing units, of which 3,344 went into foreclosure. The state’s foreclosure rate is one in every 2,950 homes. The counties with the most foreclosures per housing unit were (from highest to lowest): Calhoun, Gadsden, Hamilton, Gilchrist, and Duval.

 

 

Elisa.rolle

 

With a foreclosure rate of one in every 2,441 homes, New Jersey slipped out of the top three, placing fourth for highest foreclosure rate. The 11th most populated state has 3,761,229 housing units, of which 1,541 went into foreclosure. The counties with the most foreclosures per housing unit were (from highest to lowest): Cumberland, Sussex, Camden, Gloucester, and Salem.

 

 

Ultima_Gaina / istockphoto

 

With one in every 2,417 homes going into foreclosure, South Carolina took the third spot. Ranked 23rd for population, South Carolina has 2,344,963 housing units and saw 970 foreclosure filings. The counties with the most foreclosures per housing unit were (from highest to lowest): Kershaw, Barnwell, Richland, Dorchester, and Lexington.

 

 

SeanPavonePhoto

 

The sixth least populated state in the country, Delaware fell from the top spot for highest foreclosure rate. With one in every 2,387 homes going into foreclosure and a total 448,735 housing units, Delaware saw a total of 188 foreclosure filings. With only three counties in the state, the most foreclosures per housing unit were in (from highest to lowest): New Castle, Kent, and Sussex.

 

 

mdgmorris

 

Illinois made the top spot for highest foreclosure rate. Of its 5,426,429 homes, 2,818 went into foreclosure, making the sixth most populated state’s foreclosure rate one in every 1,926. The counties with the most foreclosures per housing unit were (from highest to lowest): Peoria, Crawford, Mcdonough, Kendall, and Macoupin.

 

 

ibsky

 

Of all 50 states, California had the most foreclosure filings (4,241); Vermont had the least (3). As for the states with the highest foreclosure rates, Illinois, Delaware, and South Carolina took the top three spots, respectively.

 

Two regions – The Great Lakes and the Mideast – tied for having the largest presence among the 10 states that ranked the highest for foreclosure rates. The states in the Great Lakes region were (from highest to lowest): Illinois, Ohio, and Indiana. The states in the Mideast region were (from highest to lowest): Delaware, New Jersey, and Maryland.

 

The Plains region had the largest presence among the 10 states that ranked the lowest for foreclosure rates. The states were (from highest to lowest): Nebraska, South Dakota, and North Dakota.

 

Learn More:

This article originally appeared on SoFi.comand was syndicated by MediaFeed.org.

 

SoFi Loan Products

SoFi loans are originated by SoFi Lending Corp. or an affiliate (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license # 6054612; NMLS # 1121636. For additional product-specific legal and licensing information, see our disclosures.


SoFi Home Loans
Terms, conditions, and state restrictions apply. SoFi Home Loans are not available in all states. See our criteria for more information.


External Websites: The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

 

zimmytws / istockphoto

 

 

Depositphotos

 

Featured Image Credit: Compass/Michael J. Franco.


Viewing all articles
Browse latest Browse all 79

Trending Articles