Remodel market getting stronger

"Remodeling...accounts for  about 70% of total U.S. residential expenditures." according to Steve Brown, real estate editor for the Dallas Mourning News, in a story published on January 18, 2011. The article points out this is a much higher percentage than in the past and is expected to rise further in the coming year or two. The kitchen  remodel is still the most common type of project according to Mr Brown.

Here at Premium Kitchen in Northwest Arkansas we see a similar trend. While new home construction has slowed to a trickle, the remodel side is showing some strength. It is only to be expected that more are choosing to stay put and make improvements where they are.

Another factor contributing to the surge in remodels is the foreclosure repair market. According to Mr Brown buyers of foreclosed properties typically spend about 15% more fixing the place up. In northwest Arkansas the percentage  spent on forclosure repairs may be even higher because the selling prices have been so low.

Premium Kitchen specializes in complete kitchen remodels, but we are happy to provide other construction services along with work we are doing in the kitchen. So if you are considering jumping in to the foreclosure market, think about having Premium  Kitchen as your project partner.