One of the first industries that was affected in the economic downturn was the construction industry, particularly new home construction. As the overall economy has improved, so has the construction industry, but is still remains soft. More and more, homeowners are choosing to stay in their existing homes or buy from current home resale inventory and make changes in these homes by remodeling them to suit their changing needs.
Changes that homeowners make can be as simple as repainting or as involved as room additions. Some remodeling projects can easily be completed by homeowners, while others require professionals.
Kitchen and bathroom remodeling projects are two of the most popular projects that homeowners undertake. Sometimes the projects involve simple cosmetic changes like repainting and re-carpeting, while other changes are more complicated, such as complete tear-outs where total cabinetry and countertops are replaced, floors are re-tiled and walls are added or removed.
Unless you have the experience required to handle electrical, plumbing and cabinetry changes, then you should hire professionals to handle these jobs, not only orange county general contractors for safety, but also to get the best results possible. Faulty wiring can create a dangerous situation that can threaten your home and family. If you make a mistake when measuring cabinetry and countertops, the mistake can be very costly, particularly if you are installing more expensive granite countertops.
In 2013, homeowners spent $130 million dollars on remodeling, a sharp increase compared to previous years. This trend has helped companies that offer home construction products recover by selling more plumbing fixtures, windows, countertops, cabinets and more. It also has provided work for both large and small businesses that offer remodeling services.
This trend to renovate and remodel instead of building a new home means more and more older homes are being remodeled. Entire older, rundown or less desirable neighborhoods are being revitalized as commercial or residential properties. This is improving communities as well as creating vibrant downtown areas. These changes are also helping local economies recover and create more jobs.
It is hard to predict how long this trend will continue, but many think that it will not be ending any time soon. Of course, there are benefits to owning a newly constructed home, but remodeling an existing home to suit your needs can make a home feel more your own and increase your home’s value. Consider all of your options and decide what is best for both you and your budget.