Home improvement projects continuing

Green Escrow | Remodel

Despite high inflation and seemingly never-ending bottlenecks with the supply chain, 71 percent of homeowners said in a recent survey that they plan to go on with their home remodeling projects. Most are interested in preparing the general wear-and-tear or outdated aspects of their homes while others are looking at making their home more enjoyable.

Many are looking at creative ways to combat the higher prices, from locking in with a contractor at the expense of delaying the project for up to three months to storing project materials on the property to prevent future cost increases.

on way of another, most are intent on seeing the projects to completion.

Home Remodels on the Rise

Green Escrow | Remodel

Harvard University’s Joint Center for Housing Studies reports that as home values continue to rise, more and more homeowners are deciding that now is the time to increase the value of their homes even more. According to estimates, home remodeling is expected to climb from 2.4 percent in the second quarter of 2015 to 6.8 percent by the second quarter next year.

As their equity increases, many would-be sellers are using that money on remodeling projects such as bathrooms and kitchens.

The remodeling industry is expected to increase to $300.5 billion by 2016.