Wednesday, July 16, 2008

Custom Home Remodeling Increasing in Popularity

With home prices increasing and mortgage rates rising, many
homeowners are opting to turn their current home into the
home of their dreams through custom home remodeling.

The National Home Builders Association reports that
approximately $280 billion was spent on home renovations in
20051. This amount is expected to continue to rise due to
the concern for homeowners to add value to their existing
home along with their desire to modernize their home. A
custom remodel allows the homeowners to reflect their own
style and individual tastes - from integrating a theme to
using unique styling and colors.

Two of the most popular custom projects consist of kitchen
and bath remodels. These traditionally consist of
incorporating a more luxurious look and feel to the
existing rooms and may include adding custom products such
as high-end tiling, fixtures or elements.

With the current trend in creating an "open" kitchen and
living area for entertaining, comes the emphasis of
creating specialty areas specifically designed for
individual family needs. With added square footage to open
up an area, along with stunning granite countertops
throughout, custom cabinetry, and stainless steel
appliances that are as beautiful as they are functional,
homeowners can now created a modern kitchen that takes
center stage and looks fit for a gourmet chef to cook in.

The increasing desire for homeowners to remodel their homes
can also be attributed to the increased interest in adding
value to an existing home. By incorporating additional
square footage, you've not only transformed the living
space but you've instantly increased your home's resale
value. For example, a recent remodeling survey found a
midrange remodel costing $10,499 would recoup 102.2% of its
cost if the house sold within a year2.

Once you've made the decision to remodel, you'll need to
contact an experienced and reputable, licensed general
contractor. When considering hiring a general contractor,
it's important to do your homework and thoroughly research
your options. Your local homebuilder's association is an
excellent source to find out information on local and
established general contractors. Also, ask the contractor
for customer references and contact these customers to find
out what type of work the contractor did as well as their
opinion of the contractor.

What do you look for when hiring a contractor? Hiring the
right contractor is detrimental to your remodeling
project's success. Below are some helpful tips to follow:

. Search for a contractor who specializes in the type of
remodel job you are interested in.
. Find an experienced contractor who is established and has
a presence within your community.
. It's important to find a contractor who communicates with
you and shows enthusiasm about the opportunity.
Your home is one of your most precious and valuable assets.
Be sure to protect your investment by finding the right
contractor for your remodeling project.

1www.nahb.org
2Weston, Liz Pulliam. (2007) The hottest remodeling trends
for 2011. Retrieved October 14, 2007, from
http://www.realestate.msn.com/Improve/Article

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