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Thinking About a Remodeling Project? There’s No Time Like the Present!

If you’ve been on the fence for a while about kicking off a project like a garage makeover or a basement remodel, now is a great time to leap off of that fence rail. Why? Because a number of factors have combined to make 2014 the best time for remodeling/renovation projects in many years.


Home prices continue to recover. Housing starts and sales of existing homes are increasing. And while the recession may still be clearly in the rearview mirror, we’re steadily pulling away from it. All of those factors have contributed to a mini-boom in remodeling projects that many homeowners have been deferring until now. That’s according to a study recently released by the Remodeling Futures Program of the Joint Center for Housing Studies at Harvard University.

In fact, the study shows that the first quarter of 2014 logged double-digit gains in remodeling activity compared to the same period last year. And that indicates that many homeowners have kicked-off remodeling projects that have been on hold – in some cases for many years. Helping to fuel the boom are interest rates that continue to hover near historic lows, and more money becoming available from lending institutions.

The Perfect Conditions Won’t Last Forever…

Other organizations agree with the Remodeling Future’s report. The National Association of Home Builders reports that the first quarter of 2014 showed more remodeling activity than any time since 2004 – years before the occurrence of the housing bust and the recession. And the 2014 Cost vs. Value Report released by Modeling Magazine shows an increase in the value of all project types listed in the report. That’s the second year in a row that all project types have increased in value, following many consecutive years of decline. (By the way, basement remodels made Modeling Magazine’s top ten list of projects that add the most value to a home in 2014, adding an average of $49,000 to a home’s resale value.)

But the ‘perfect storm’ scenario won’t last indefinitely. Interest rates are expected to begin steadily creeping upward later in the year. Bottom line is that right now is the best time in years to kick-off a home remodeling project – and maybe the best time for years to come.

At TLC Inc. we’re ready to meet the ramped-up demand for our garage and basement renovation services. So if you’re ready to jump off the fence, give us a call and let’s get started. Because there’s truly no time like the present!


This entry was posted on Friday, May 2nd, 2014 at 6:20 pm. Both comments and pings are currently closed.

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