New construction is down and contractors and trades are hungry for work. Meanwhile, the price of key building materials has dropped significantly from peaks.
Together, these factor make it the the best time in years for home renovation projects, according to a recent article in the Wall Street Journal.
The paper says that “more homeowners will renovate their kitchens this year — 7.57 million, up from 7.44 million in 2006 — but they will spend a lot less, $96.2 billion compared with $127 billion, according to the National Kitchen & Bath Association. Bathroom renovations this year are expected to rise by 5.3% to 10.9 million from 2006, while spending on them will grow 3.8% to $70.2 billion from 2006, the trade group projects.”
A great time for retro renovators to move their projects forward!
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