Remodeling Ahead of the Upturn Home Improvement Appliances

December 3rd, 2010 by Grace Winston

Remodeling Ahead of the Upturn

Is this really the time to repair your home with an eye toward the market? During the downturn of the economy, many homeowners embarked on remodeling projects as it seemed impossible to put their home on sale. Now, at least one prognosticator seems to think the turnaround is imminent next year. Does that mean it’s smart to make home remodeling plans for the New Year?

This week, Kiplinger writer Pat Mertz Esswein fired the opening salvo of hope for an emerging home market in 2011. Writing on Yahoo, Esswein claims that as the job market improves toward the middle or fall of next year, so will housing prices.

Bank of America Merrill Lynch experts, writes Esswein, claim that housing prices are “90 percent of the way back to being in line with household incomes.” Markets that have become undervalued may see a surge of buyers or investors by summertime.

So, Are You Ready for Remodeling?

It depends ultimately whether you’re and optimist or pessimist. If you had planned to sell before the bottom fell out, you may want to reschedule presale home improvement projects. Small kitchen and bath remodeling projects have had some success in returning homeowner investments in increased valuations. But avoid a major home remodeling effort like the addition of a family room.

One way to get ahead of the sales curve is to clean up your lot, freshen up your landscaping, and make small repairs where needed on the entry. A new front door can make for a huge change when it comes to curb appeal.

Put together a realistic budget before getting out the power tools. When the ice thaws on the market, those homeowners who have maintained their houses through the winter months while sprucing them up may be best poised for staging their homes come springtime.

Making Remodeling Plans

If you’ve decided to take a leap of faith, just don’t go overboard. Doing one room does not have to disrupt your entire life. Kitchens are challenging, but can be done in installments. Bathrooms, particularly if you have more than one, are less disruptive.

When the economy begins to stabilize, remember that contractors may suddenly get busy. You might look over your ideas, call around for written estimates, and see if you can put together a schedule for the early summer. Good luck!

Tags: home remodeling, Remodeling, repair

4 Responses to “Remodeling Ahead of the Upturn”

Remodeling Ahead of the Upturn | Reliable Remodeler Blog | CG home :: Home articles says: November 29, 2010 at 8:10 pm
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Tim says: November 30, 2010 at 8:13 am
If you are planning on selling your home next year, the absolute best thing you can do is…..get ready for some low-ball offers! I don’t think prices are down falling, and buyers are going to be expecting deals. Plus until all the foreclosures and other distressed sales clear the market, who’s going to pay regular price?
Amanda says: December 2, 2010 at 2:03 pm
Definitely one room at a time – if it is your first project do a room that is not going to have a huge impact on your normal living as it will become cumbersome and inconvenient if it takes time to finish. Also if it’s a trial run make its one that doesn’t make too much of difference if you make mistakes.
Kevin says: December 3, 2010 at 2:41 am
While inside remodeling is important, don’t forget curb appeal. In addition to adding new windows, shutters or a front door, porch remodeling can be done without major reconstruction. There is no need to go overboard to attract buyers.

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