Posted by: phillipsre | August 18, 2015

Remodeling On The Rise

As the housing market continues to flourish, home remodeling is also picking up the pace. As people are purchasing homes, the need for home improvements are following right along. This article from the Seattle Times discusses the surge in home remodeling projects all across the country. The amount people spend on home remodeling and repair is anticipated to hit $325 billion this year, a level that hasn’t been reached since 2007, according to the Harvard Joint Center for Housing Studies. The rise in home remodeling is great news for all home owners (not just those that are getting a new kitchen), neighborhoods with high levels of remodeling activity enjoy stronger levels of price appreciation than areas with less activity. The most popular remodels start with kitchens, then bathrooms, heating updates are also a popular project. Generally these types of projects will add value to your home, the article reports that office updates and sun porch add-ons are the least profitable for your home value. For more information, click here to see the full article.

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