The latest remodeling trends

Found an interesting report on Remodeling Trends from the recent National Association of Real Estate Editors Conference

Spending on Remodeling

The experts are predicting a slight and short-lived decline in renovation spending, in line with other national reports and studies.

Tips for working with renovators

  • don’t be afraid to vet your contractor – go ahead and ask the tough questions,
  • specify everything in your contract, and
  • check your contractor has the proper insurance — including workers’ compensation – else you could get saddled with the liability.

Remodeling Trends & Homeowner Demand

“Nearly every panelist mentioned the pervasive influence of TV design shows”. In other words, the media is heavily shaping and influencing consumer demand. Popular trends include:

  • the rise of the outdoor living space
  • home kitchen and bathroom remodels are taking longer because of the selection process – more choices = more time
  • radiant heat floors
  • green flooring (cork or bamboo)
  • more cultural diversity in color schemes
  • pot-filler faucets, and
  • energy-saving appliances or accessories

But the single most striking trend?

“the urbanization of cities”: in essence, more and more people are moving out of the suburbs and into cities … [and] the new urbanites, apparently, are renovators.

… city dwellers are willing to spend freely on their smaller spaces. “A survey we did a couple years ago,” Wilkinson said, “noted that people who live in condominiums spend the same amount of money renovating their homes as people who have driveways and backyards.”

Source: Remodeling the American Dream, Inman News.

What your first home really costs

For first time home buyers:

The True Cost of Owning a Home.

Rate Your Real Estate Agent

HomeThinking

Thinking of buying or selling a house? Homethinking.com can be helpful in selecting a real estate agent or broker. The site’s promise: “Know which agent sold what and what people said about the job they did.”

It aims to help consumers target the most active and the most recommended agents through a combination of consumer reviews and Homethinking.com’s ranking system. “The agents who do the most work usually get the better price …”
Niki Scevak on RealEstateJournal.com

Read the in-depth review by The Smart Surfer.

Please note that the site has been updated since the story was published late February – the data should be the same but the look and functionality have been revamped.

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