Thursday, May 9, 2013

Top Five Remodeling Projects of 2013



May Is National Remodeling Month!

According to the calendar, spring is here!   Traditionally this is the time of year when those of us in the remodeling industry experience an increase in the number of calls from homeowners.  To honor that trend, the National Association of Home Builders designates May as National Home Remodeling Month.
Remodeling indicators are showing major growth for the future, for the first time in six years, the overall average cost-value ratio, for remodeling projects, has improved, reaching 60.6%. This is up 2.9 points over 2011–12. Harvard University’s Remodeling Futures Program LIRA  report— its Leading Indicator of Remodeling Activity — “shows the pace of spending growth is accelerating from an 8.8% rise in the first quarter from the opening three months of 2013 ….to a 20.2% rise for the four quarters of this year vs. all of 2012.”

To celebrate National Remodeling Month and beyond, here are my Hottest Five predictions of what’s going to be heating up the remodeling front for the next year:

Kitchen Remodels
After being on the back burner, kitchen remodels will be making a comeback After keeping the heart of the home on life support the last few years, homeowners want to upgrade. Look for them to choose function and style over the huge restaurant style kitchens of the past.

Accessibility
      I know, we’ve heard this story before, but from personal experience I know that the baby boomers are still advancing. In the past, we have made remodeling changes in homes to accommodate the aging in place lifestyle because of necessity. I believe in the future taking accessibility concerns into consideration during the planning phase will become second nature.

Outdoor Living Spaces
A trend that began a few years ago will continue to have appeal. Homeowners are looking to expand their living area beyond the traditional four walls and beyond decks and patios. These spaces have the functionality of an indoor room and all the benefits of being outdoors. This may include better furnishings, fire pits, kitchen areas, even television and audio systems.

Green Remodeling
While green remodeling, as a whole, may not become mainstream, I think energy-efficient updating will continue to expand. Continuing advancements in technology and construction practices make window and door replacement, wall systems and insulation a wise investment for the homeowner.
Interest in sustainable products and materials will continue, mainly when it comes to the easier add-ons such as paints, countertops, lighting, and flooring

Basement Remodels
The Basement Remodel, man cave or not, is still the most cost effective way to add living space. With consumer confidence increasing and the cost versus value for basements being one of the gains for 2013, homeowners will again be looking downward to increase thief living space.