Given enough time and money you can build anything! But a wise man counts the cost before he embarks on any endeavor. So a better question might be, when and how do I determine the cost?
As a residential architect, people often ask what types of projects interest my clients as an indicator of the overall economy. With record number of home foreclosures and short sales, most assume any movement in the residential architecture business would be in the area of additions and renovations. However, that assumption has proven false. In a housing market that has been at its lowest in decades, interest in custom designed homes is out pacing that of additions and renovations.
Recently I reviewed the latest data on the rate of return for money spent on remodeling projects and began to wonder when we started to think of our homes as investments? Growing up in the 60’s I don’t remember my parents talking about the current market value of our house. In fact, if they did it was because property taxes were increasing. They never planned to sell, so current market value wasn’t something they contemplated.
As I prepare for the Midwest Home Show (Nov. 19 – 21), I wonder who will be the first to ask me, “Why do I need an architect to design my home?” It’s almost like a challenge or a dare. People walk by my booth and see photos of well designed homes. They know there is something different about these homes than most of the homes they encounter. They can’t say what it is, but they see it just the same. So they comment on how nice the homes look and then ask the question.