In a housing market where moving often feels impossible, more homeowners are asking: What if we didn’t have to move at all? What if the home we’re in could become the one we’ve always dreamed of?
The owners, had a home in a location they loved, but with an exterior and finishes… Read more…
With 25,000 homes for sale in the Twin Cities area the question of whether you should move or renovate your existing home should be a simple one to answer. Surely the perfect home exists! But if you are considering renovating your home and choose to buy instead, then you also have a home to sell. Congratulations! You have just joined the ranks of 25,000 other home owners who are also trying to sell their homes!
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.
To look at the attendance at the 2010 Midwest Home Show one would have to assume one of two things. Either it is a nasty fall day in which case folks are in search for a place to spend their day inside or consumer confidence regarding home improvements is up.
