Remodeling Houses – A Trend Here to Stay?
“Remodeling Houses” “Remodeling Costs” “Homes Renovations”
Many people are wondering now, with the economy the way it is at the moment, just how the remodeling industry is going to fare. With remodeling costs up and housing prices down, the return on investment recouped from a remodeling project is considerably less than it used to be. So how will this affect the remodeling industry?
With the loan industry tightening up, and credit harder to qualify for, many people are finding it as difficult to qualify for a home equity loan or home equity line of credit as it would be to qualify for a new mortgage. Still, however, for many people, remodeling is still a better option than moving.
Think about this: there are approximately 130 million homes in the US and their average age is over 31 years old. As these 130 million homes continue to age, maintenance, repair, renovation and remodeling will be required.
With global warming continuing to increase, the need to make a home more energy efficient is a major priority both for personal comfort and for resale appeal. Things like putting in insulation and energy efficient windows, and air conditioning for homes that weren’t built with AC are becoming necessary.
Other things, such as the need to fix a leaking roof, or other items that are in disrepair will still be remodeling and home improvement projects that homeowners will have to do. The bottom line is that work that needs to be done usually gets done and as homes continue to age there will also continue to be plenty of things that need upkeep, repair and remodeling.
Remodeling though is not always just about maintaining your investment, often remodeling and renovating are emotionally motivated. The home is a very personal place and reflects your personality and design and way of living. Also with gas prices and the economy the way they are at the moment, many are doing more entertaining at home instead of going out.
Some of the biggest trends in remodeling now are actually exterior remodeling, including the addition of decks, patios, outdoor living rooms with fireplaces and Jacuzzi’s, outdoor entertainment centers complete with even flat-screen TVs believe it or not and then obviously outdoor kitchens are a really hot trend at the moment and even pizza ovens too.
No matter what stage the economy or housing market is in, remodeling is something that will always need to be done by many many people for many reasons and is definitely here to stay.
Planning a kitchen remodel?
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“Some of the biggest trends in remodeling now are actually exterior remodeling, including the addition of decks, patios, outdoor living rooms with fireplaces and Jacuzzi’s, outdoor entertainment centers complete with even flat-screen TVs believe it or not and then obviously outdoor kitchens are a really hot trend at the moment and even pizza ovens too.”
–I understand the pizza ovens, jacuzzis fireplaces, and outdoor entertainment centers to some extent, but the flat screen tvs outdoors seem to baffle me. Are flat screen tvs ok to be placed outdoors now?
The article was informative, and it had great pictures. Thanks for the information!!
Well not all flatscreen TVs are for outdoor use. You have to have one that is specifically made for outdoor use. You need to look specifically for waterproof flat screen TVs and sound systems. You can google them or I know Costco carries a freestanding waterproof flatscreen TV.
I have seen that the outdoor trend is very prevalent lately as well. Especially outdoor kitchens and fireplaces. Doesn’t having a tv outside defeat the purpose of being outside?
It is a good idea to determine whether remodeling is the best option for you, or whether it would make more sense to buy another house that would better fit your needs and wants. Nice article with good info.
Thank You,
Katrine
All I can say is I want that BBQ area
While I am sure it has slowed down, people will continue to remodel their homes.
Sacramentos last blog post..Sacramento Downtown/Riverfront Streetcar
Remodellings only going to become more popular at the moment as people stay in their homes rather than moving. That BBQ area in the photo is simply stunning!
Cheap Loanss last blog post..Repossession on the up but help is coming.
As a Newbie, I am always searching online for articles that can help me. Thank you
We had a jacuzzi in our own place, unfortunately my husband lost his job so now we live in a smaller appartment.
Hopefully when we’re back on our feet we can begin makign some changes.
elle.
oh my how i long for the day where i have an indoor jacuzzi :/
-Jack
While building new homes or remodeling an existing home, one should also try to use energy efficient building materials and lighting equipment that would be beneficial for the occupants and also prevent global warming to a small extent. Some countries also provide tax rebates on building energy efficient homes.
Clean Energy
Many people forget about the basic remodeling issues or renovation areas as you mentioned such as the roof or gutters, fencing even just painting.
Not all home improvement relates to new fancy changes, although I do have to say I love that outdoor TV and bbq area but to even consider that one must first make sure they have concentrated on the normal and perhaps mundane home remodeling issues.
Consideration of lighting is a big area where people do not spend enough focus on, a well placed skylight can not only reduce your need for daytime lighting but also make a wonderful change to a room.
Anyway, love the pictures, wish I had a jacuzzi just like Jack does!
Thanks
Chris
In my experience when the economy is down people tend to stay in their homes and make improvements rather than going through the process of selling and buying again. Labor costs are down in most areas around the country. Now is a great time to invest back into our properties.
I have just come across this site, and finding it interesting and informative.
I think renovation or remodeling is the way to go, and I think that products like these can become fun and adventurous, getting to mix and match, and seeing what you feel is right.
That is very interesting to know that its not the interior that is important like it always used to be but that now people are making changes to their out doors, but I suppose depending one where one is, this is how important this will be, like for instance here in South Africa, we have the most unbelievable Summers,and depending where one is in the country the winters too can be stunning, so for us as people we do live a great deal out doors so for us remodeling out exterior would be beneficial.
I think that with the housing bubble having burst, the rotating of properties to realise a quick profit is over for the time being. People are much more inclined to stay put and make the most of what they have, so the remodelling trend is definetelyu stronger than the buying and selling one.
Having said that, the recession is also biting, and many folks are just holding on for dear life. I believe that the home improvement warehouses and other hardware chainstores are also finding going rather difficult, as the decline in the property boom is definitely affecting their businesses adversely too!
In a recession people don’t buy houses, so the next best thing is to improve their existing house with home renovations and additions.