Why 2017 Is The Best Year To Remodel Your Home
When you moved into the home you are currently living in you most likely loved it and thought the space was perfect. But, now you don't exactly want to move into a bigger house and think that "if only just a bigger bathroom, bedroom or just more space in the living room would be perfect." Or maybe you are deciding to sell this house for a higher value than its currently worth. Well the good news is that this year is the best year to think of remodeling your home and here are four reasons why.
1. More jobs, higher wages
People are happier this year, realtor.com says, the consumer confidence index for December 2016 reached 113.7 in comparison to the all time low of 2009 of 37.7. This is due to the recovering economy bringing in more jobs and higher wages. Many companies say a record high in sales and customers just last year and expect this year to get even better.
If there is no consumer confidence, there is no remodeling in the homes.
2. More remolding, less contractors As more people decide they want to remodel their homes, the number of contractors are decreasing and that means you will have to wait longer for your home to be remodeled. There has been said to be a shortage in national contractors.
3. Good news: Financing is still available
While at times, remodeling your home isn't cheap, financing options are still available since home prices are rising and loan rates are still low. According to realtor.com, last November the interest of home equity loans were at 4.82% and this year in January they were already at 5.21%. So why wait any longer?
Remodeling is a good long-term investment because it can only increase the value of your home and as things inside the home are newer the less electricity your home uses.
4.Increase in prices It doesn't matter how the U.S. economy is, prices around the globe seem to always go up due to tariffs or material type. If you are thinking of getting a special material in Italy or granite from Brazil, you might want to get it soon.
Building costs, labor and insurance always rise, why wait two years?