Though it was once seen as a temporary trend in response to the recession, it seems that the home remodeling boon is here to stay as Americans continue to make frugal decisions about their spending choices. With the housing market in its current state, many homeowners are avoiding the time-consuming nature of updating and putting their home on the market in favor of remodeling projects that can improve their current houses. According to the National Association of Home Builders (NAHB), American homeowners are putting their focus into kitchens and bathrooms more than any other spaces in the modern home and it has provided a noticeable boost for the construction industry.
"Homeowners are repurposing spaces and making more efficient use of their home's square footage, " NAHB chairman George Moore Jr., told the Los Angeles Times. "Whether it be young families or couples aging in their homes, people want to let their house adapt with their needs as they change over time."
According to AGBeat.com, requests for kitchen and bathroom remodeling projects are up 17 percent from two years ago, as homeowners look to add products like modern appliances, bathroom vanities and other pieces of decor that can help them craft a contemporary aesthetic. Unlike previous years where home remodelers would go for these updates as a means of increasing their home values, those surveyed in NAHB's data said overwhelmingly that these projects were meant to take care of components that needed repairs as well as a desire for upgraded amenities.
"As the priorities of homeowners shift, remodelers have to adjust to the needs of their clients," Moore told the news source. "And while the motivation behind a homeowner's decision to remodel may have changed, their desire for quality, professional results have not. Professional remodelers remain committed to the highest industry standards."
These new trends are a hopeful sign for the American economy, as consumer investment has finally changed from remodeling that fulfilled a specific need to pleasure spending. It remains to be seen if these trends will hold up, but over the past few years, the desire to remodel and improve existing homes has never been stronger. Better yet, homeowners are finally putting their focus on efficiency, expanded amenities and convenience that will not only make their homes more appealing in the long run, but will help to put money back into their pockets.
Labels: Remodelling Tips and Trends