Home remodeling is a very subjective choice, based on individual tastes, maintenance needs of a home, and budget, just to name a few considerations. So why should you pay attention to current trends? Bob Vila has some insight on the direction the home improvement industry is taking, as well as why you should be aware of what the current trends are.
After a significant period of stagnant activity due to a depressed economy and the housing market bust, home improvement projects are taking a substantial upward thrust. What this means for you is that many of your neighbors are either considering or planning projects to upgrade their homes, and if you’re not following suit, your home value may not hold in comparison to similar houses around you.
While finances and home values should not be the primary consideration in deciding on a home improvement project, for most of us they are a major factor. But interest rates continue at fairly low levels for home improvement loans, which may not remain the case. Another consideration is that all those homeowners who were holding off on remodeling until the housing market recovered are now jumping in, which means if you’re contemplating a project and haven’t gotten on a contractor’s schedule, you may end up being on hold for awhile.
