According to a recent article from the ARA – while foreclosures are at record rates the vast majority of homeowners are still current with their mortgages. Between the low interest rates and the fact that most of these homeowners are opting to remain in their current houses, it is providing more opportunities for home improvement and remodeling businesses.
There are several very distinct advantages for people to have various home improvements and remodeling projects done and upgrading one or more bathrooms are high on the list. Among the advantages are:
*People want to improve the value of their property during these recessionary times.
*People want to enjoy the benefits of a more luxurious living environment.
*People can recoup as much as 75% of a bathroom remodeling project’s costs when they resell their home as indicated in Remodeling Magazine’s 2008-2009 Cost vs. Value Report.
*People can realize savings in energy and resources consumption through upgraded “green” materials including ceramic tile, water-conserving fixtures and energy-efficient lighting
*People find that investing in baths and fixtures that create a spa-like environment provide a more relaxing experience in their own home, reducing stress and saving them the time and expenses of visits to spas and massage therapists. According to Steven Deland of Acryline Bath Systems, “Demand remains strong for tub experiences that really underscore hat feeling of spa like relaxation in the home bath.”
The U.S. has continually experienced cycles of economic upturn and downturn since World War II. On average, despite these cycles most homeowners have realized a doubling of their home value about every 11 years. Deland says, “Investing in your home is still one of the most sensible ways to spend your money and improve your life.”
There are always opportunities in every adversity. A solid plan, flexibility and innovation are important cornerstones of not only surviving, but also thriving during these challenging economic times.