Rising Numbers for Home Remodeling Projects

remodeling

Remember back in 2005 when it seemed that everyone had a remodeling project going on? The Remodeling Marketing Index shows that we are headed there again!
The RMI measures the number of contractors who report an increase in activity and it has been steadily rising. Currently, we are seeing that more contractors show increases than decreases. That’s a great sign! According to NAHB Remodelers Chairman George “Geep” Moore Jr., “The strength of the RMI, especially in owner-occupied properties, shows that home owners are investing in remodels as home prices stabilize. As owners become more confident that investments in housing will hold their value, they are beginning to undertake projects to improve their comfort that they had been putting off.” This is good news for the entire housing industry!
It appears that homeowners are doing more remodeling projects. The difference is that they’re being smart about them. Smaller renovations are where it’s at right now. Minor improvements, repairs, simple updates and small projects are still leading the pack, but major projects like additions and complete room remodels are also on the rise.
Bathroom remodels seem to be at the top of the list right now. Customers know they can get a good price on materials from local suppliers including discounted tile, remnant countertop material and plumbing fixtures. By saving on these products, they are able to afford the reputable contractors they really want to hire rather than the fly-by-night remodeler who promises to do it at half price in half the time then never finished the project.
A huge red flag in this industry is if you meet with a contractor and they never once ask about your budget. A fair and honest contractor will discuss not only your project but your budget with you. They will help you to set realistic goals for your project, plan a design that works within your budget and then STICK TO IT!
Lastly, As always, if you’re planning a project and want to know where to begin please feel free to call Portland Remodel at 503-244-3525 for an estimate. We’re happy to help!