Remodeling on the rise
One of the first industries to be affected by the economic downturn was the construction industry, particularly the construction of new homes. As the overall economy has improved, so has the construction industry, but it remains weak. Increasingly, homeowners are choosing to stay in their existing homes or purchase from current home resale inventory and make changes to these homes by remodeling them to suit their changing needs.
Changes that homeowners make can be as simple as repainting or as complicated as adding rooms. Some remodeling projects can be easily completed by homeowners, while others require professionals.
Kitchen and bathroom remodeling projects are two of the most popular projects homeowners undertake. Sometimes projects involve simple cosmetic changes like repainting and re-carpeting, while other changes are more complicated, like complete takedowns where all cabinets and countertops are replaced, tiles are replaced on floors, and walls are added or removed. .
Unless you have the experience to handle electrical, plumbing, and cabinet changes, then you should hire professionals to handle these jobs, not only for safety, but also for the best possible results. Faulty wiring can create a dangerous situation that can endanger your home and family. If you make a mistake when measuring cabinets and countertops, the error can be very costly, especially if you are installing more expensive granite countertops.
In 2013, homeowners spent $ 130 million on renovations, a sharp increase compared to previous years. This trend has helped companies offering home building products rebound by selling more plumbing fixtures, windows, countertops, cabinets, and more. He has also provided jobs to businesses large and small that offer remodeling services.
This trend of renovating and remodeling rather than building a new home means that more and more older homes are being remodeled. Entire older, dilapidated or less desirable neighborhoods are being revitalized as commercial or residential properties. This is improving communities, as well as creating vibrant downtown areas. These changes are also helping local economies to recover and create more jobs.
It is difficult to predict how long this trend will continue, but many think it will not end anytime soon. Of course, owning a newly built home has benefits, but remodeling an existing home to suit your needs can make a home feel more like your own and increase the value of your home. Consider all of your options and decide what is best for you and your budget.
