Take a look at this article and its plain to see that remodeling is still enjoying a double digit rise year over year. Home Owners and landlords are taking advantage of still-low interest rates to create the dream kitchen or install that new swimming pool. But the article also makes it clear that we may be in for a mid year slow down as the Fed raises interest rates as they have promised to do. This means that home equity line you were planning on using to purchase your new kitchen will be more expensive as rates go up, thereby having the same affect as driving up the price of that remodel. Still, there is still lots of time to plan your renovation before rate hikes take affect. The good news when remodeling slows is that the better contractors and trade professionals are usually less busy and more apt to take an interest in your project.
The article also makes a point that everyone involved with remodeling is very busy right now and most ‘talented’ outfits are picking and choosing profitable work as they cant spread themselves too thin and small or non-profitable projects tend to pull them away from the better work.
Anyway, lots of great information in the article, so read and enjoy! As always, post your opinions and let us know what you think. Remodeling is an expensive undertaking and we are all looking for ways to save money and still get an eye-popping value for our home.
Thanks for reading!