The Remodeling Buck

The Remodeling Buck

The Remodeling Buck

The Remodeling Buck
A few homeowners undertake complete kitchen renovation while they still focus on replacing countertops and refacing cabinets.

According to a recent report by ServiceMagic.com homeowners are investing in improvements to make their homes more energy-efficient,

Craig Smith, chief executive of Service Magic says, “People are not going bigger and better, but improving what they have more cost effectively,”

According to Harvard University’s Joint Center for Housing Studies, it is found that Home improvement spending is expected to decline 12 percent in 2009.

Kermit Baker director of the Remodeling Futures Program at the Joint Center in a news release said, “Lower financing costs have not been enough to offset rising unemployment and falling consumer confidence and encourage homeowners to undertake major home improvement projects,”.

At present people are carefully considering how they should spend their money.

Bill Judson, an architect with Hartman Baldwin Design says, “In the days of easy credit, there was a feeling of ‘we can’t go wrong, let’s just get started,’ now, it’s harder to get money, in terms of credit, and homeowners are taking it a little slower and educating themselves a little more.”

Kimberly Sweet, editor of Kitchens.com explains, “The kitchen and bathroom are traditionally rooms where remodeling pays off and some homeowners are still going through with full remodels these days.

According to Service Magic’s recent survey, worldwide volume of countertop project requests rose 39 percent in the first quarter of 2009, compared with the first quarter of 2008, while major kitchen remodels are down 19 percent.

Refacing or painting cabinets and updating cabinet hardware have always been an option to remodel on a budget.

Sweet adds, “Consumers still gravitate toward granite countertops, but other less expensive — yet still attractive — countertop materials are available,”.

According to Remodeling Magazine’s 2008-2009 cost vs. value report, replacement projects that improve curb appeal, such as siding, windows and decks, are some of your best bets for recouping money at resale.

Upgrading windows also can make a home more energy-efficient. An audit can help homeowners prioritize projects.

Smith says, “people will pay interests because the insight provided can save them a lot of money down the road,”

Home improvement projects seem to be practical these days but some splurges are also becoming popular as market conditions force people to stay in a home longer than previously planned and as the economy has them spending more time entertaining at home.

Smith finally adds up saying, “Compared to large-scale remodeling projects, hot tubs are not a massive out-of-pocket expense,”. Full Story…

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2 Responses

  1. Excellent posting!

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  2. I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

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