Home Remodeling on the Rise as Homeowners Opt to Stay

Last Updated on March 24, 2015

Today’s housing and financial markets have seen a significant recovery since 2008, which has increased the demand for multiple home repairs and home improvement services. A part of the increasing demand has to do with the fact that more homeowners are now choosing to upgrade their existing homes to fit their changing needs and lifestyle. They are finding that there’s more risk involved with moving (where they may have to make several compromises), as opposed to staying where they can make their homes exactly how they want them, and without uprooting their families from their schools and communities.

According to the third annual Houzz & Home survey, the majority of US homeowners (66%) who are remodeling plan to stay in their homes for the long term, 53% said they are remodeling to increase the resale value of their homes (but have no plans to move), and only 16% said they are planning to move in the next two years. What’s the reason? It’s not because they can’t afford to move; it’s because they are investing to create a home that meets their needs, now and in the future. The survey also revealed that bathrooms and kitchens remain the most popular renovation projects.

Based on the “Franchise Outlook for 2015 and Beyond,” every day, ten thousand people are turning 65 years old. With the life expectancies of baby boomers on the rise, many are finding ways to remain in their homes with certain upgrades that can keep them safe and independent.

On the flip side, families with growing children are finding themselves overscheduled with little or no time for DIY remodeling projects. These families are willing to save time by hiring a professional to do the work for them, while still having the comfort factor of remaining in their homes. They are happy with the school district, community and neighbors, and don’t want to sacrifice all of that because they don’t have a master bathroom. The cost to renovate is often cheaper and ends up being less risky than moving.

Staying “green” and consideration for the environment continues to be a major factor in home improvement projects. Replacing energy-draining appliances with today’s energy-saving alternatives is an ongoing trend for homeowners to cut monthly expenses and save money – while at the same time saving the environment.

Factoring in the expense and hassle of moving, remodeling is becoming a great alternative, as it allows homeowners to customize the homes they’ve grown to love in ways that meet their evolving needs. Whether it’s planning a complete remodel or just tweaking a favorite room, homeowners are taking pride in their investments by investing a little more to savor the memories they have spent so long building in their homes.

Granite Transformations can help you with all your remodeling needs. From a small countertop makeover to a total bathroom renovation, Granite Transformations can help you build a home that you will love forever. Sign up for a FREE In-Home Design Consultation today and get a quote from our expert design consultants.