Saturday, September 26, 2009

Home Remodeling in a Recession - Would it Be Possible?

These are truly tough financial times, and the boom days are now over for the US real estate industry. Today, many homeowners are having second thoughts on undertaking a home improvement activity, and are questioning whether if it's worth the time and money that's required. A home remodeling activity could still be done, however, as knowing which type of remodeling activity to invest in should help to make a major difference.

The positive side of remodeling your home during a recession is that, when it comes to major home remodeling aspects, renovating the bathroom, kitchen, and basement continues to serve as the main backbone of the remodeling industry and has only incurred minimal losses in recoup values, and has surprisingly maintained steady values in some cases. Home improvement analysts agree that simple improvements such as repairing the sliding door or replacing the windows lead the pack when it comes to rising recoup values.

Remodeling during a recession also has its share of negatives. As the housing market is on a slump, the pocketbooks of consumers have also gotten much thinner. With the recession serving as a gloomy backdrop, home remodeling projects have seen the largest drop in recoup values over the years. Two-story home additions for instance, have incurred a major drop in recoup values, by around 20% between 2002 and 2007. Among the other home remodeling projects that have lost value over the last five years include family room remodels, office remodels, and attic bedroom constructions.

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While most studies have indicated that the overall value of home improvements have considerably dropped over the last five years, a number of projects have successfully held the recession at bay, and are steadily holding on their own. Housing analysts stress that the trick is in knowing which projects to steer clear from and spotting which ones are worth your trouble. While choosing the appropriate home remodeling job may be a wise move, it would even be smarter if homeowners see these tough times as an opportunity for negotiating affordable or even fairly-priced home remodeling deals. Who knows, these tough economic times may even provide you with much-lower home reconstruction deals?

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Lizette Provence has been writing for almost four years now. She writes articles on home improvement, fitness and technology. Recently, she has launched a new website which features different Electrolux Vacuum Cleaners suitable for your home needs. You can visit her site at Vacuum Cleaner Bags for more useful information.

Commercial Remodeling Contractors in Frederick Md by BT Martin Contractors
From CRE Office Remodeling for Montgomery County Maryland
BT Martin Contractors specializes in exterior and interior painting all over Montgomery County Maryland as well as custom renovations for both residential and commercial projects. Whatever the project you have in mind, a home addition, new kitchen, new bathroom, fresh paint, basement finishing/renovation, or new deck, you can count on BT Martin Contractors.
MHIC # 83244

301 253-1068

General Contractors Frederick Maryland by BT Martin Contractors

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