From Margaret Everton on April 27, 2010 in Remodeling News
Can you smell that? Its the smell of sweet, sweet sawdust and brand-new power tools.
Its true, home improvement sales are in the air. The time of pricey renovations and massive overhauls may be gone (for the time being), but now Americans are trekking back out to home improvement stores all across the country. Why? Because the remodeling game is back on this time with a whole new set of rules.
Harvard Universitys Joint Center for Housing Studies reports a 5% growth in 2009, with even higher spending growth expected in 2010. But while many people once remodeled to get more bang for their selling buck, theyre now upgrading their homes in order to make them more comfortable in the long run.
In other words, homeowners are expecting to stay put for at least a few years more.
Whos Remodeling What?
In this new remodeling game, a significant amount of attention is being paid to the most cost-effective changes. The homes that used to undergo expensive master suite additions, for example, are now experiencing smaller cosmetic changes that wont require owners to tap into their equity.
Kitchens are seeing more cabinet and floor replacements, and if space was an issue before, its being remedied with the removal of a dining room wall. And of course, new tile or fixtures are able to provide minor facelifts.
Home office remodels are now simple bedroom conversions that require only a small cost to rewire and add storage space. Bathrooms are seeing similar small changes in new fixtures and flooring.
Another indication that homeowners are paying closer attention to how much theyre spending: an increase in the number of green materials, appliances, and lighting. Not only do these help save money in the long run, but they can also mean tax credits for owners.
Change may be hard to swallow, but this new responsible America seems to be on the right track. And of course, we always love to hear that people are rolling up their sleeves and doing what we do best - gettin’ dirty.