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With home prices increasing and home loan rates rising, many homeowners are opting to turn their current home into the home of the dreams through custom home remodeling.
The National Home Builders Association reports that approximately $280 billion was allocated to home renovations in 20051. This amount is expected to continue to increase because of the concern for homeowners to add value for their existing home with their need to modernize their house. A custom remodel permits the homeowners to mirror their own style and individual tastes - from integrating a theme to presenting unique styling and colors.
Two most widely used custom projects contain kitchen and bath remodels. These traditionally consist of incorporating a more luxurious look and feel towards the existing rooms and may include adding custom products such as high-end tiling, fixtures or elements.
Using the current trend in creating an "open" kitchen and living area for entertaining, comes the emphasis of making specialty areas created specifically for individual family needs. With added sq footage to spread out up a place, together with stunning granite countertops throughout, custom cabinetry, and stainless steel appliances which are as beautiful because they are functional, homeowners can now made 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 houses can also be attributed to the elevated curiosity about adding value to an existing home. By additional square footage, you haven't only transformed the living area but you've instantly increased your home's resale value. For instance, a current remodeling survey found a midrange remodel costing $10,499 would recoup 102.2% of its cost when the house sold within a year2.
Once you have made a decision to remodel, you will need to contact an experienced and reputable, licensed general contractor. When considering getting a general contractor, you need to do your homework and punctiliously research your options. The local homebuilder's association is an excellent source to discover info on local and established general contractors. Also, ask the contractor for customer references and phone these customers to discover what kind of work the contractor did as well as their opinion of the contractor.
Exactly what do to consider when hiring a contractor? Hiring the right contractor is detrimental to your remodeling project's success. Here are some helpful tips to follow along with:
- Search for a contractor which specializes in the type of remodel job you are interested in.
- Find an experienced contractor who is established and has a presence in 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. Make sure to protect your investment by finding the right contractor for the remodeling project.