Article by Jim Weisman
The Arizona kitchen remodeling industry has gone through many boom and bust periods. Some say, current times are different, however. The prolonged recession has changed how homeowners approach remodeling projects.
For example, many homeowners want more function rather than luxury. And, they want their remodeling investment to result in increased home value and a return on investment.
In today’s world, many homeowners just can’t afford opulent makeovers. The ones who can are approaching Arizona kitchen remodeling carefully to ensure projects meet an increased scrutiny for function and value.
Changes in Homeowner Remodeling Preferences
When the real estate market boomed, homeowners were more likely to invest heavily in Arizona kitchen remodeling. The grander the better seemed to be the motto. With home values going through the roof, this approach seemed reasonable.
Plus, homeowners wanted to do everything possible to sell their homes. Although houses seemed to be selling like hotcakes, some homeowners wanted their properties to stand out. Enter the bigger-is-better mentality.
However, the real estate market crash caused homeowners to re-think Arizona kitchen remodeling. Instead of deluxe makeovers, homeowners began choosing projects more carefully.
Homeowners still want to complete projects that will attract potential buyers the most. However, they’re also taking a prudent look at the numbers. Any project must serve a purpose, attract potential homebuyers in the event of a sale and provide a reasonable return on the investment.
Arizona kitchen remodeling is expected to grow in the coming years. Home improvement spending seems to be back on the upswing. Housing analysts expect homeowner remodeling spending to increase 3.5 percent annually through 2015.
One factor fueling this expected growth is the number of foreclosed homes being sold. Unfortunately, many of these homes have fallen into disrepair. Although buyers may have snapped up some deals during the bust, they will most likely have to invest in upgrades, especially in the kitchen.
Another growth factor involves the under-water status of many homes. If a home’s value has dropped below what is owed on it, a homeowner doesn’t have the flexibility to move. With more homeowners staying put, the focus will be on upgrading the home they expect to live in for years to come.
Types of Arizona Kitchen Remodeling Projects
One trend in Arizona kitchen remodeling is incorporating “green” choices. Energy-efficient appliances and cabinet choices can provide a greener alternative to what a homeowner may currently have. Plus, many of the green options can save money too. In addition to saving on electric bills, energy-efficient kitchens can earn tax credits in some situations.
According to Remodeling magazine, a basic Arizona kitchen remodeling project can recoup 79.5 percent of its cost. One major benefit of remodeling a kitchen is its widespread appeal. A beautiful and functional kitchen will appeal to the masses.
Another report from ServiceMagic, an online consumer resource to find home improvement professionals, finds homeowners are moving less frequently and preferring to remodel.
The report also finds 77 percent of the 1,200 respondents remodel homes to increase quality of life; 94 percent indicate they want to increase home value regardless of whether they plan to sell.
Arizona kitchen remodeling tops the list in the survey results as the number one home improvement project. The website’s statistics show kitchen remodeling requests more than doubled.
Jim Weisman is owner of Republic West Remodeling, an Arizona-based company specializing in home remodeling: kitchens, bathrooms, room additions, outdoor living spaces and more. For more information about Arizona kitchen remodeling , visit our website.
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