Industry News
National Remodeling Month Reminds Consumers of
the Value of Home Improvements
Local Remodelers Experience Steady Demand for Home Updates
LOUISVILLE, Ky., May 1, 2008 – With spring being the time of year when many people make plans to remodel, the National Association of Home Builders (NAHB) has designated May as National Home Remodeling Month. According to NAHB, Americans spent an estimated $235 billion in home remodeling in 2007, up from $233 billion in 2006. Remodeling is an investment in a home's longevity, usefulness and value. In addition, remodeling can modernize homes, make them more comfortable and improve energy-efficiency and functionality.
National Remodeling Month reminds consumers of the value of making home improvements and the need to search out trusted professionals to ensure the experience and end result of a project are positive. Here in Greater Louisville, the Home Builders Association of Louisville (HBAL), offers insight on the local remodeling community and the growing consumer interest in home improvement. HBAL Executive Vice President Chuck Kavanaugh emphasizes that remodeling is a service and not merely a product. "Choosing a remodeler is important, especially when consumers consider that inevitably they’ll be sharing their home with the remodelers’ crews for weeks or even months, depending on the scale of the project," Kavanaugh explained. "A homeowner needs to make that choice carefully. Within our membership, we have a designation entitled, 'Registered Remodelors.' These individuals have met strict requirements to achieve this title. It's not something you can just simply pay your dues and be a part of," he said. According to Kavanaugh, potential Registered Remodelors must have conducted their business for at least five years and completed 10 structural projects in order to apply for the designation. Then, they are reviewed by staff at the association as well as by existing members.
The Remodelors Council of HBAL was formed in 1976. Today it includes more than 80 members who are certified Registered Remodelors. According to HBAL Remodelers Council Chair David Rateau, Rateau Construction Co., Inc. local remodelers have seen an increase in business in recent years, with many people choosing to upgrade their current homes and increase the value of their investment. "A lot of times remodeling is a result of a lifestyle change. Either you've had another child or a parent is coming to live with you. In many cases, you've gotten a promotion you've been wanting and like where you live, so you just want to update that bathroom you've been putting up with for the last 10 years," he explained.
Rateau said that one of the most popular influences in kitchen remodeling jobs is the fact that what used to be considered a luxury kitchen has now become the norm. "Now, some of those things like granite countertops are just expected. An average new kitchen went up from $25,000 to $50,000," he explained. "In the Louisville market, there are a lot of older homes in good locations, and people don't want to move out of their historic neighborhoods. So, they choose to remodel, and kitchens are one of the first things they do," he said.
According to Rateau, the upcoming Tour of Remodeled Homes held each August has become an increasingly popular event. "You get to see some spectacular projects. People look to that event to get ideas and see what new products are on the market. If you're going to spend money remodeling a new home, you want to know what's in vogue. The show just keeps getting more popular each year," Rateau said.
Current Facts About the Remodeling Industry
What are the most popular remodeling jobs?
According to NAHB surveys, the top jobs ordered by popularity are:
• Kitchen remodeling
• Bathroom remodeling
• Room additions
• Whole house remodeling
• Windows/doors replacement
• Bathroom additions
• Finished basements
• Siding
• Decks
• Roofing
The top reasons to remodel right now...
• With interest rates at historic lows, now is the perfect time to invest in home remodeling before rates increase again.
• Homes need regular maintenance and repair to stay in top condition – simply replacing siding to fix drafts or repairing the roof to stop leaks can drastically improve home performance.
• Remodeling improves home value – smart remodels protect your greatest investment: your home.
• Modernizing makes your home more beautiful and updating your home makes it more comfortable and functional.
• Energy-efficient homes save owners money. Remodels that improve home energy and water efficiency reduce bills, and installing long-life products will save on future replacement expenses
• Attractive exteriors improve the curb appeal of your home, such as new siding, fresh paint, clean gutters, neat landscaping, and an intact roof improve the first impression of your home, increasing home value and sales potential.
• Outdoor living spaces expand your home for entertaining and play on the popular trend of outdoor entertaining with the addition of a deck, patio, or porch to your home.
• Kitchen remodels enhance functionality, and remodelers can also use good design to make your kitchen work better.
• Bathroom remodels improve comfort and add home value by replacing cabinets, installing a new sink or tub, or improving bathroom lighting.
• Aging-in-place or universal design remodels increases home accessibility.
Registered Remodelors are listed on HBAL's website. For more information on choosing a local remodeler, visit www.hbal.com.
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