The Charleston Model Home is a prime example of the New American Tradition that beautifully balances elegance and functionality. This split-bedroom ranch features four spacious bedrooms and two and a half baths, with a layout that enhances its perceived size, making it feel larger than its actual square footage. The exterior of the Charleston immediately impresses with its distinctive multiple rooflines, offering exceptional curb appeal that sets it apart in any neighborhood. Inside, the Charleston excels with several standout features designed for modern living. The home boasts a generous 12′…
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Top 9 Renovations to Increase Home Value in 2024
Several renovation projects are proving to offer high returns on investment for homeowners. According to recent insights, boosting curb appeal remains a top priority, with updates such as replacing garage doors, refreshing siding, and enhancing landscaping yielding substantial ROI. Additionally, creating a more functional floor plan by expanding or modifying living spaces is highly recommended. Features like large bathrooms, open kitchen layouts, and walk-in closets are increasingly in demand. Upgrades to luxurious bathrooms and kitchens, which are central to a home’s appeal, also promise significant value increases. Other high-impact renovations…
Read MoreRemodeling Spending Stabilizes: What Contractors Need to Know for 2024 and Beyond
According to the latest Leading Indicator of Remodeling Activity (LIRA) report from Harvard University’s Remodeling Futures Program, homeowner spending on renovations and repairs is expected to stabilize and slightly increase through mid-2025. Despite a recent downturn, annual spending is projected to decrease by only 0.5% from $468 billion in Q2 2024 to $466 billion in Q2 2025. Economic uncertainty and a weaker housing market have dampened renovation activity, but the pace of spending is expected to recover to a more sustainable level following the pandemic-induced surge. For residential contractors, this…
Read MoreMaximize Spring ROI: Top 5 Remodeling Projects for 2024
Spring offers an ideal opportunity for homeowners to enhance their living spaces with high-ROI remodeling projects. According to Westlake Royal Building Products, the top five projects to consider this season include kitchen and bathroom updates, stone veneer installation, new windows, siding replacement, and decking upgrades. Minor renovations in kitchens and bathrooms, such as updating hardware or adding decorative trim, can yield impressive returns—96.1% for kitchens and 73.7% for bathrooms. For a more substantial impact, stone veneer, with its ability to add texture and character, offers a remarkable 153.2% ROI and…
Read MoreWhat Remodeling Contractors Need to Know for 2024-2030
The U.S. residential remodeling market, valued at approximately $527.36 billion in 2023, is expected to expand at a compound annual growth rate (CAGR) of 4.6% through 2030. This growth is driven by rising homeowner demand for aesthetically appealing and technologically advanced interiors and exteriors. Increased disposable income and the popularity of home automation and smart appliances are also contributing to this trend. Contractors should note the growing emphasis on integrating smart systems and advanced materials, as well as the heightened demand for specialized services, such as concrete and masonry or…
Read MoreTrends, Key Insights and Opportunities for Residential Contractors
In the first quarter of 2024, homeowners spent $463 billion on renovations, although this figure represents a decline from peak spending levels and is expected to decrease further in 2025. Despite a projected reduction in overall renovation spending, residential contractors can still find opportunities in high-demand areas such as kitchen and bathroom remodels, which remain top priorities for homeowners. Notably, over 51% of homeowners spent $25,000 or more on renovations in 2023, reflecting a steady increase in renovation budgets. The average median spend on kitchens rose to $24,000, while bathroom…
Read MoreUse of Stone Materials in Remodel Projects Seeing Uptick
The global stone flooring market, valued at approximately USD 12.8 billion in 2023, is poised for significant growth, with an anticipated CAGR of over 5.7% from 2024 to 2032. This expansion is driven by rising demand for high-quality, aesthetically pleasing, and durable flooring solutions in both residential and commercial spaces. Luxury stones like marble and granite are particularly sought after due to their elegance, longevity, and eco-friendly attributes, making them popular choices for upscale homes and new construction projects. The increasing preference for sustainable and high-end materials, coupled with ongoing…
Read MoreStarting Your Home Remodeling Project: Essential Tips for Contractors
Starting Your Home Remodeling Project: Essential Tips for Contractors As homeowners consider remodeling, the driving factors vary widely—from updating outdated aesthetics to increasing energy efficiency and adding functional space. Before diving into a project, it’s crucial for homeowners to clearly define their goals. They should start by listing their priorities, such as upgrading kitchens or enhancing energy efficiency, and gather inspiration from magazines and websites to help visualize their ideal remodel. Understanding traffic patterns, furniture placement, and the specific needs of the remodeled space, such as accessibility features, will guide…
Read MoreRapid Urbanization and Demand for Smart Homes Key Drivers of Remodeling Market
The global home improvement market, valued at $867.6 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 6% from 2024 to 2032, driven by rapid urbanization, increased disposable income, and evolving consumer preferences. Homeowners are increasingly investing in modern, energy-efficient, and luxurious living spaces. As urban areas expand and living standards rise, there’s a growing demand for homes equipped with the latest technologies and sustainable solutions. This shift is further supported by trends toward smart home systems and eco-friendly materials, such as solar panels…
Read MoreAlabama housing market showing positive trends in 2024
Alabama’s real estate market shows continued growth, with July home sales up 0.9% from last year and 13.1% from June, driving a total sales volume of $1.51 billion. With rising median home prices and a robust economic impact, the market’s upward trend is expected to persist, fueled by strong demand and potential interest rate reductions. According to Yellow Hammer, home sales reached 6,136 in July, up 0.9% from last year and a significant 13.1% from June. The total sales volume surged to $1.51 billion, marking an 8.6% increase from July…
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