A recent survey by Adobe, encompassing data taken from more than 1,000 homeowners across the country reported that nearly 63% of respondents would rather remodel their homes than buy new. This is fueled by high interest rates and skyrocketing home prices. The remodel process can seem intimidating for homeowners, with Adobe’s study citing price as the number 1 reason for not wanting to pursue a remodel. This is a valid fear for potential clients, especially as 50% of homeowners who have remodeled their homes exceeded their budget. According to Fox…
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Multifunctional and Outdoor Living Space Renovations on the Rise
As homeowners invest in renovations and remodels to enhance their living spaces, the home improvement market is experiencing a major boom. Trends fueling this boom are kitchen and bath upgrades, outdoor living space creation and repurposing rooms to function for multiple uses including home offices and media rooms. According to Yonkers Times, Kitchen and Bathroom Upgrades: Kitchen and bathroom remodels remain the most popular home improvement projects. Upgrading these spaces improves functionality and adds significant value to the property. Outdoor Living Spaces: The trend of creating outdoor living spaces continues to grow.…
Read MoreBerkeley Hills Home Gets Eco-Friendly Remodel
Berkeley-based architect, founder of Rangr Studio, and a lecturer in architecture at the UC Berkeley College of Environmental Design, Jasmit Singh Rangr is one piece to the team that built his family’s stylish, minimal, cost-conscious home near the Grizzly Peak summit in the Berkeley Hills. His wife, Abigail Dillen, president of Earthjustice, a nonprofit, public interest environmental law firm, is the one who truly made it possible. According to Sunet, The challenge began in 2014 when the couple and their young son, Sher, moved from Manhattan to the Bay Area after…
Read MoreOlder Americans Seek To Make Accessible Upgrades
Many adult ages 50 and above would prefer to stay in their current home as long as possible according to an Associated Press-NORC Center for Public Affairs Research poll. Some baby boomers and older members of Generation X are locked into low mortgage rates too good to give up, thus meaning the choice of moving has been relinquished. Skyrocketing housing prices fueled by lean supply further complicate the calculations of moving house. According to Daily Herald, Despite feeling tied down, a subset of these older adults have enough extra cash to splurge on upgrades…
Read MoreA 1950s Silicon Valley Tract Home Transformed for Net-Zero Living
By Graham Irwin California has ambitious goals to address climate change. Achieving them will require sweeping changes to industry, transportation, and the built environment. Although this societal transition is a work in progress, a recent project of ours offers an effective and compelling response. A cramped, dark, uncomfortable, and dated 1950s tract house was transformed into a bright, airy, all-electric, high-performance home. The owners now enjoy outstanding comfort, quiet, and air quality, plus a “net-zero lifestyle” – they power their home and charge two electric vehicles with zero energy bills.…
Read MoreFrom Flooded Flooring To Full Remodel, Renovation Eased With Inspirational Approach
After a flooded basement plagued her house South Dakota homeowner Maria Schaffhauser approached interior designer Patricia Thoms and began talking about long term plans. “I was just there looking for flooring, but I said eventually I want to do a home remodel,” Schaffhauser said. “She didn’t know where to start,” Thoms said. “So I said, we have a free consultation, and I can go to your house and measure and make a project for you, and she thought that was great. So I went to Aberdeen and measured and took…
Read MoreNew Research Reveals States Most Eager To Fix up Their Home
Online self-storage finder SpareFoot, analyzed 50 different search terms related to remodels, such as ‘bathroom remodel’ and ‘kitchen remodel’ over the last 12 months revealing the states most eager to fix up their homes. It was found that Georgia residents are most likely to remodel their homes. The state’s average searches were 31% higher than the national average, making Georgians searching 401 times per 100,000 people each month as compared to 306 searches per 100,000 residents when searching terms such as ‘bathroom remodel’ and ‘kitchen remodel’ over the last 12…
Read MoreNew Report on Building Material Costs Released
Harming housing affordability, the cost of softwood lumber, steel, aluminum and other imported materials and equipment are rising, exacerbating proce volatility and driving up housing costs. Uncertainties within the production process and when supplies will be available to complete homes in a timely manner are making this rise in costs worse. Whether or not the homes will appraise at the correct price to reflect these rising costs is another key concern. According to the National Association of Home Builders (NAHB), Supply and Demand: As demand for building materials increases, particularly…
Read MoreAmid High Interest Rates and Inflation, American Homeowners Would Rather Renovate Than Buy a New Home
Discover Home Loans conducted a survey to determine what client intentions are for their homes, and whether they are choosing to renovate their current property or buy a new house to best fit their needs and style preferences. It was found that high interest rates are having a high impact on homeowners in the United States with 84% of those planning to buy a new home pushed out of the market due to such. In addition, it was also found that of those impacted, 46% are no longer looking for…
Read MoreKitchens, Bathrooms and More Released as Top Remodel Projects in New Industry Report
Many homeowners plan to invest in their home, despite home renovation statistics and spending trends signaling a pending decline post-pandemic. And according to reports from the Joint Center for Housing Studies of Harvard University (JCHS) Leading Indicator of Remodeling Activity (LIRA), the home renovation industry has quickly surpassed the $400 billion threshold within the last two years. “There is also a social component, where homeowners may be influenced by their neighbors or friends who are renovating their properties,” said Ermanno Affuso, professor of economics and finance at the University of…
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