With the housing market struggling to make a recovery, many homeowners are deciding not to undergo major renovation/remodeling of their homes. In fact, a survey conducted by Remodelingestimates.com reported that falling home prices and recession anxiety caused a high percentage of homeowners interested in remodeling to alter their plans in 2008 – around the same time the housing market began its descent.
A tough economy can be the best time to remodel your home, particularly smaller projects. When the housing market soared, contractors rejected smaller renovations for larger, more lucrative projects. Now that the once booming housing market has slowed, labor is more available and building materials are cheaper.
Sensible home renovations can also help protect that value of your home in a floundering market – and also make your home more enjoyable in the meantime. This article contains some practical rules of thumb for remodeling for strengthening your home’s resale value: click here.
For further reading on the latest news on the housing market, click here.
For more information about the 2008 survey mentioned in the blog, click here.