According to the Remodeling Activity Indicator (RAI) devised by Harvard?s Joint Center for Housing Studies, homeowners continued to invest in their properties by spending $149.5 billion on renovation during 2011.
For many homeowners , home improvement is vital as they plan to age in place, so they are trying to create ground floor bedrooms, larger bathrooms, and accessible countertops. For otherhome owners adding a room addition is essential as the family simply outgrows its present home size.
Another type of owners include those for whom investing in their homes is a way not only to improve their comfort and safety , but also their ability to create wealth and achieve financial security as home improvement is known to increase the property value. While these homeowners renovate strictly to add value to their homes or make them more marketable, many of today?s homeowners are merely seeking comfort and functionality , a place to relax and live ; a safe serenity.
Important Home Improvement Projects
As a result of current tendencies in the real estate market, more and more house owners decide to renovate and add size to their existing residence instead of getting into the process of relocating to a new residence.
?When we moved in ten years ago as a young couple, we couldn?t spend the money for a large three bedroom house we always dreamt about,? says Jack Merritt from Studio City, CA. ?Instead we went for a more compact two bedroom property. Despite its size, it had a large backyard, a fireplace, and adequate space to raise our newborn baby. Ten years later, our infant has become a big kid and we essentially felt we needed more room. At first we though to merely move to a larger house but this is a popular neighborhood and prices are sky-rocketing, so we made a decision to simply add a bedroom to our home. After screening several local contractors we found an offer to be the very best value and because from day one we were impressed by their efficiency and experience. Eloise Fernadez says, ?Indeed, we were as very pleased with the result as we were with the process. The contractor we picked and his team were experienced and well-mannered. They were understanding of our privacy while working through our day to day routine and most important, we had our room addition on time and within our remodeling budget.?
Raising House Values
Today?s real estate markets are full of aging homes where returns on investment are large and generally exceed the prices of home improvements. Of course, some kinds of improvements do far better in certain places. For instance, building a wood deck in Santa Monica, Calif., or Hawaii is a solid investment
Another significant factor is the type of improvement, as some improvements are more likely to give your residence more appeal and help it sell faster. High-end kitchens and luxurious master bedrooms tend to be real selling promoters pretty much anyplace around the country.
Enhancing Comfort and Functionality
Many home remodeling project trends are determined by functionality and comfort . These types of factors can be often seen in bathroom and kitchen remodeling projects with high tech gadgets and designer finishes.The kitchen is beginning to change and develop as homeowner preferences in kitchens include computerized, commercial-look stainless-steel appliances, sculptural stove hoods, designer dishwashers, and custom countertops, to name a few.
Bathrooms are becoming a luxurious retreat with extra-large ?rain? shower heads, body-spray showers, steam showers, solid surface shower walls, and heated tile floors.
Source: http://supernsetips.co.in/more-americans-remodeling-than-moving-in-2012
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