What Makes Homeowners Tackle a Remodel

What Makes Homeowners Tackle a Remodel
National Association of Home Builders
article by Daily Real Estate News | May 16, 2018

The chief reasons homeowners undergo a remodel are because they desire better and newer amenities or they feel compelled to repair or replace old components in their home, according to the National Association of Home Builders’ Remodeling Market Index. These two reasons have tended to drive most remodels in recent years, but other reasons are growing in popularity among homeowners.

Notably, three reasons to remodel are on the upswing: a “desire and need for more space,” “wanting to avoid moving/buying another home,” and “desire to be able to age in place.”

“An increased desire to avoid moving to another residence could in part be a reason to higher construction costs for new homes and a low inventory of existing homes available on the market,” the NAHB notes on its blog, Eye on Housing, in reporting the survey’s findings. “The uptick in aging in place is not entirely surprising, given the ongoing growth in the nation’s older population.”

The chart below reveals homeowners’ top reasons for remodeling:


Source: “Aging in Place on the Rise as a Reason to Remodel,” National Association of Home Builders’ Eye on Housing blog (May 15, 2018); REALTOR® Magazine Online, Daily Real Estate News 051618

Author: Kenneth Bargers

REALTOR®, Tennis Player, Titans, Vols & Preds Fan, Nashvillian... let's connect on Instagram, LinkedIn, Pinterest and Twitter. -- contact Kenneth at kb@bargers-solutions.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s