Reports from the Harvard University Joint Center for Housing Studies indicate the remodeling industry reached U.S. $233 billion dollars in 2005 and continued to boom in 2006. However, the housing market cooled off in 2006 after reaching record highs. Case Design/Remodeling, Inc., based in Bethesda, Maryland, with more than 60 franchises across the U.S., said this creates an environment that makes this the best time for U.S. homeowners to remodel.
“As the housing market cools, buyers have so many more choices and options at their disposal,” said Case President Mark G. Richardson. “Homeowners with an excess of equity at their disposal are savvy enough to realize that the market has shifted so it is beneficial for them to stay put and invest in their most important asset.”
Kitchens and baths continue to lead the way as the rooms that homeowners remodel most often. “With kitchens and baths you typically get a higher return on your investment. From a financial standpoint, it’s a win for the homeowner,” said Richardson. "History teaches us that the housing market will eventually bounce back and people who have made smart investments into home improvement projects will reap the benefits when it comes time to sell.”
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