Buy & Sell with Vicki Koeune

Return of the Remodel!

It’s time to revisit that list of home improvement projects you keep putting off. As home prices stabilize, more homeowners will tackle remodeling projects.

Spending on home renovations is expected to increase to $120.7 billion in the fourth quarter of this year from $114 billion in the fourth quarter of 2011, according to data from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

Despite the growth in remodeling activity, homeowners needn’t worry about rising building material prices or potential shortages of labor, says Stephen Melman, director of economic services for the National Association of Home Builders, or NAHB.

“Some prices have gone up, but I don’t think that’s going to be a holdback on remodeling,” he says.

Fall is a great time to get materials at a discount as home improvement stores unload their summer inventory.

As you decide which projects to tackle first, it’s wise to check your windows and consider adding insulation before winter arrives.

Kitchen and bathroom remodeling remain at the top of many homeowners’ wish lists, according to the NAHB. “The most popular large project has been bathrooms,” Melman says. “It’s also less expensive than doing a kitchen.”

Contact VKBuilders LLC for a quote if a remodel is on your mind & in your future!

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