According to an April 15 report from the Joint Center for Housing Studies at Harvard University, annual spending on remodeling is expected to accelerate this year, with nearly 5% growth over 2009. "This year could produce the first annual spending increase for the industry since 2006," the peak of the housing boom, says center director Nicolas P. Retsinas.
After hearing this I was just reading an article in the Wall Street Journal that came out on April 24, 2010 about “The New Rules of Remodeling” and while I agree and disagree with some of the items it detailed. The underlying theme of the article we are finding to be true here on the South Shore. People are starting to fix up their homes again, but in different ways than in the past.
In many ways remodeling has always been a “keeping up with the Jones” kind of industry. That still holds true in some respects; but Almar is finding that a lot more people are finally ready to get those improvements and basic maintenance projects underway that they have been putting off “while they see what happens”. We are seeing a lot more clients deciding that they are going to stay in their current homes longer than they initial anticipated so they want to make their house more functional and comfortable for their life styles without doing major renovation. Instead of focusing on how much will this get me at resale they are considering more about how it will improve their lives.
What types of projects are people considering?
Well window, door & siding projects are very popular right now. The Energy Tax Credits that end in 2010 are really enticing people to make these type of improvements now. Minor kitchen renovations: Removing a wall to create an open-dinning area, new cabinets & countertops within the existing kitchen/house foot print. Along the same line a minor bath renovation, where you leave the fixture locations the same up grade all the actual fixtures with more modern, and efficient ones. Even expanding outdoor living space with new decks, and patio rooms allows to you get more space in your existing house at a lower costs.
That doesn’t necessarily mean that people aren’t taking on large projects now. Many people who have decided that they want to stay put have committed to invest the time and money now (before inflation starts) into larger projects, which they can enjoy in the short term and benefit from in the long term.
So with more people looking to make improvements to their homes, fewer licensed (Massachusetts HIC, CS, and EPA), insured reputable contractors in the market place how do you protect yourself?
Some quick tips: Ask the right questions, talk to a few people, and always choose someone who knows what they are doing.
For more a more detailed explanation of the steps you should take to protect yourself I recommend a Free Report called: Six “Secrets” To The Perfect Custom Remodel Of Your Home! Click Here to request your copy.
And always please feel free to call 781-826-2577 and ask whenever you have a question. If I cannot answer it I will get you in touch with another professional who can.
After hearing this I was just reading an article in the Wall Street Journal that came out on April 24, 2010 about “The New Rules of Remodeling” and while I agree and disagree with some of the items it detailed. The underlying theme of the article we are finding to be true here on the South Shore. People are starting to fix up their homes again, but in different ways than in the past.
In many ways remodeling has always been a “keeping up with the Jones” kind of industry. That still holds true in some respects; but Almar is finding that a lot more people are finally ready to get those improvements and basic maintenance projects underway that they have been putting off “while they see what happens”. We are seeing a lot more clients deciding that they are going to stay in their current homes longer than they initial anticipated so they want to make their house more functional and comfortable for their life styles without doing major renovation. Instead of focusing on how much will this get me at resale they are considering more about how it will improve their lives.
What types of projects are people considering?
Well window, door & siding projects are very popular right now. The Energy Tax Credits that end in 2010 are really enticing people to make these type of improvements now. Minor kitchen renovations: Removing a wall to create an open-dinning area, new cabinets & countertops within the existing kitchen/house foot print. Along the same line a minor bath renovation, where you leave the fixture locations the same up grade all the actual fixtures with more modern, and efficient ones. Even expanding outdoor living space with new decks, and patio rooms allows to you get more space in your existing house at a lower costs.
That doesn’t necessarily mean that people aren’t taking on large projects now. Many people who have decided that they want to stay put have committed to invest the time and money now (before inflation starts) into larger projects, which they can enjoy in the short term and benefit from in the long term.
So with more people looking to make improvements to their homes, fewer licensed (Massachusetts HIC, CS, and EPA), insured reputable contractors in the market place how do you protect yourself?
Some quick tips: Ask the right questions, talk to a few people, and always choose someone who knows what they are doing.
For more a more detailed explanation of the steps you should take to protect yourself I recommend a Free Report called: Six “Secrets” To The Perfect Custom Remodel Of Your Home! Click Here to request your copy.
And always please feel free to call 781-826-2577 and ask whenever you have a question. If I cannot answer it I will get you in touch with another professional who can.
