Frederick Custom Homes, Inc.
License # 453607
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Company and Industry News
New Survey from Houzz
May 20, 2014
Home Remodeling Trumps Moving, Houzz Survey Finds
U.S. homeowners optimistic about local housing markets, home values
With the exception of Millennials, the majority of U.S. homeowners (66 percent) who are remodeling plan to stay in their home for the long term, according to the third annual Houzz & Home survey with more than 135,000 respondents in the U.S. among the 190,000 respondents globally. Fifty-three percent of U.S. homeowners say they are remodeling to increase the resale value of their home but have no plans to move in the next five years, and just 16 percent plan to sell their home in the next two years. While homeowners remain cautious about the economy, three quarters (74 percent) said their local housing market has improved, and there was a significant drop in the percentage of homeowners who said funding their renovation project or staying on budget was a challenge this year (19 percent versus 27 percent in 2013). Those who report a significantly improved local housing market are more than twice as likely to be planning to remodel (42 percent) than they are to move (16 percent) in the next two years.
Of the survey respondents to a recent NAHB study, the number remodeling firms dedicated to green practices (i.e., 90% or more of their projects are green) are expected to more than double between 2013 and 2018—from 9% to 25%. Because re-modelers are typically more driven by specific customer demands than new home builders, this influx reveals strong consumer preference toward green. Homeowners expecting to remain in their homes may seek reduced operating costs and increased comfort.
Green renovations offer an opportunity for older homes to be more competitive in the market even as green and energy efficiency is becoming the “norm.”
Two Lots have just come available in Pleasanton, CA. Both over 1/2 acre and in upscale neighborhoods. One of the lots is on a golf course. These lots are perfect to build your dream home. Call us if you have an interest. 925 998-2970