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Remodeling Still Makes Sense in This Economy
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Home Page > Home Improvement > Remodeling > Remodeling Still Makes Sense in This Economy
Remodeling Still Makes Sense in This Economy
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Posted: Jan 12, 2010 |Comments: 0
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Leigh Roche, owner Skye General Contracting, inc. Pittsburgh, PA
With the decline in the economy, there have reports recently (one was actually a MSN.com headline article) stating that remodeling one’s home is a consumer extravagance. This is not only inaccurate but irresponsible. Remodeling is often necessary for overall upkeep and maintenance of one’s home; putting off home improvements could result in more costly repairs and improvements in the future. An older roof cannot and should not be ignored. It will not offer the needed protection, will not be energy-efficient and detracts from the aesthetics of one’s home. If it is left to deteriorate, it could leak, resulting in further damage to a home’s interior. Leaky windows can let water seep into walls and cause black mold to grow; deteriorating chimneys can not only fall apart and cause damage but could result in leaking into the home.
The studies and reports in the actual remodeling industry are factual and encouraging. The Research Institute for Cooking & Kitchen Intelligence (RICKI), a Charlotte-based organization of industry professionals in the kitchen remodeling industry, conducts a “Remodelers 360” survey that examines consumers’ kitchen design preferences, kitchen remodeling experiences, and how they use their kitchens. The results reveal what common sense would tell us: more Americans are eating at home as a result of the downturn in the economy, thus the desire to remodel a kitchen is still motivating consumers to remodel. The value homeowners get for a kitchen remodel and the aesthetic and practical benefits to the home still make it a highly worthwhile investment.
According to Remodeling Magazine Cost vs. Value Report 2008-2009, remodeling is still an excellent investment that not only improves your quality of life and the cost of which can be recouped if or when you sell your home. The Cost vs. Value Report gives approximate costs of particular remodeling projects and provides potential resale amounts and percentage of return on investment. The costs of remodeling obviously can vary from place to place across the U.S., based on regional fluctuations in material costs and contractors’ labor costs and overhead.
Bathroom Remodel: Update an existing 5×7-foot bathroom that would include replacing all fixtures, installing a ceramic tile surround; installing a new plumbing in the tub, shower and sink; installing a standard white toilet; solid-surface vanity counter with integral sink; installing a medicine cabinet, light fixture and ceramic tile floor.
Approximate Project Cost:,899
Resale value: ,857
Cost Recouped: 74.6%
Deck Addition (wood): Add a 16×20-foot deck using pressure-treated joists supported by 4×4 posts anchored to concrete piers. Install pressure-treated deck boards in a simple linear pattern; include a built-in bench and planter of the same decking material and stairs
( assuming three steps to grade). Provide a complete railing system using pressure-treated wood posts, railings, and balusters.
Approximate Project Cost: ,601
Resale Value: ,676
Cost Recouped: 81.8%
Major Kitchen Remodel: Update an outmoded 200-square-foot kitchen with a layout of approximately 30 linear feet of new semi-custom wood cabinets, installing laminate countertops and a standard double-tub stainless-steel sink with standard single-lever faucet. Install an energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal, and custom lighting. Add new resilient flooring and finish with painted walls, trim, and ceiling.
Approximate Project Cost: ,611
Resale value: ,030
Cost Recouped: 76.0%
Minor Kitchen Remodel: In a functional but dated 200-square-foot kitchen with approximately 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers, including new hardware; replace wall oven and cooktop with new energy-efficient models. Replace laminate countertops and install mid-priced sink and faucet. Repaint trim, add wall covering, and remove and replace resilient flooring.
Approximate Project Cost: ,246
Resale Value: ,881
Cost Recouped: 79.5%
There are also many remodeling projects that increase your home’s energy-efficiency. Updating older bathroom plumbing fixtures with newer, more water-conserving fixtures is an affordable way to improve a home’s efficiency, lower water costs, and improve the appearance of the bathroom as well. Other minor things that can be done include installing new doors, installing Energy Star- rated windows, sealing cracks and crevices with spray foam, and if possible laying thicker insulation in the attic.
Consumer energy tax incentives and credits are being offered through the American Recovery and Reinvestment Act of 2009 and are providing consumers tax incentives to have energy-efficiency improvements done to their existing homes and new construction. The plan includes federal tax credits and includes:
Tax credits are available at 30% of the cost, up to ,500, in 2009 & 2010 (for existing homes only) for:
Windows and Doors
Insulation
Roofs (Metal and Asphalt)
HVAC
Water Heaters (non-solar)
Biomass Stoves
Tax credits are available at 30% of the cost, with no upper limit through 2016 (for existing homes & new construction) for:
Geothermal Heat Pumps
Solar Panels
Solar Water Heaters
Small Wind Energy Systems
Fuel Cells
The Joint Center for Housing Studies is Harvard University’s center for information and research on housing in the United States. The Joint Center for Housing Studies examines emerging housing and community development policies and concerns. Industry leaders and public officials also use the center’s research to learn about trends and issues in the housing field.
According to The Joint Center for Housing Studies 2009 Growth Markets for Remodeling report, remodeling has helped to increase the energy efficiency of existing homes over the past two decades, especially older homes built during or before the 1930s. Most homeowners are currently interested in projects that will improve their homes’ energy efficiency and address other environmental concerns (utilizing “green“ materials for reducing carbon footprint and health concerns for example). In 2007, homeowners spent over billion of their improvement to energy-related projects, up from less than billion (in inflation-adjusted terms) a decade earlier. Homeowners are motivated by environmental concerns, and have a growing interest in products and projects that meet the green goals of quality and durability, environmental performance, and safety (such as lessening the chances or consequences of certain disasters on the home).
As credit conditions start to ease up, owners will find it easier to finance their home improvement projects. As home prices edge back up, owners will again realize the wealth-building benefits of investing in their homes. And as sales pick up, recent buyers will want to make improvements as the economy continues to improve. When the uncertainty of the economy and job-security lessens, people will feel less fear about spending money on remodeling projects.
Remodeling can be done at any time of year- it is not necessary to wait until springtime to tackle home improvements when most contractors and home improvement specialists are backlogged with work. Certain projects are definitely best-suited to fair weather: roofs, exterior painting, decks, and siding. But there are many projects that can be completed at any time: interior painting, kitchen or bathroom remodel, basement reclaiming or remodeling, removing wall(s) to open up interior spaces, flooring, and installing doors and windows, refinishing wood floors or putting in new trim work. A great project is redefining a room by changing a bedroom or poorly-utilized room into a bathroom, office, media room or workout room/ relaxation retreat, or a space that fits your lifestyle.
As more and more homeowners are remaining in their homes, they look to remodeling to help create their dream home from the home they already own. Your home is a major investment- maintain or improve its value, efficiency and appearance to improve your quality of life!
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Leigh Roche -
About the Author:
Leigh Roche is a writer, artist, and education specialist with an MA in education from Columbia University. She enjoys writing about many topics including remodeling, politics, current events, art, education, parenting and mindful living. She contributes on HuffingtonPost.com as Medit8. Coffee and yoga keep her energized to keep pace with her son and daughter. In addition to writing, she has been creating and exhibiting mixed-media art and teaching art for many years. Currently she and her husband own and operate Skye General Contracting, inc. She coordinates and teaches at a homeschool enrichment group in Pittsburgh, PA and does private yoga instruction. http://www.skyegeneralcontracting.com
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Is making money on line interrupted by this Economy?
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Home Page > Marketing > Marketing Tips > Is making money on line interrupted by this Economy?
Is making money on line interrupted by this Economy?
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Is Making Money On Line Interrupted by this Economy?
Just recently I was asked this question, is it true people are making money On Line in this economy and if so, who is? People all over the world is webbing in, because they know money is being made on the Internet from all types of marketing and they want to get piece of the pie. Where as, others are still wondering if making money on line is real, so please allow me to ask a few questions of my own. -:
1. Is Making Money On Line a fact or fiction, I am about to find out, and you will too.
2. If I should have the real truth will you be ready to adapt to my findings and take action?
3. Remember, belief is only one step in knowing and in order to have knowledge you have to saturate yourself with related facts.
4. To win it , you must be in it, so I have decided to enroll at the IIA learning academy, to get the fundamentals of marketing, to know the Pros and Cons, and any strategy that will allow me to Make Money On Line.
5. What I need is a step by step coaching, and some tools as, free hosting, an opportunity to create my own website, and a Forum full of knowlegeable people who is willing to help me, and something more, a staff with at least two millionaires aboard.
6. Finally, there must be well structured lessons that even a NewBie could learn in quick time.
Right now all I have is an opportunity and the Will in me to make things work. With good coaches, I am sure if there is a groovy secret to making money I am going to know it and I will let you know, but you must prepare your self because, right now I am not sure how quickly I will get all the facts I need to make money. What I now have is the visualization and perception and some clues but I am about to find out as my first class will begin when I pay that One Dollar, to register and give them a little profile of my self. This registration is the key I am going to use to find out.
The first lesson begins and you must hear this, so ironic, “The Pathway to Profits.” This of course will validate how Making Money On Line will prosper. IIA learning program is absolutely the best. They show you that its not an Over night success, but rather a process that allows anyone to Make Money On Line inspite of the Economy. I know what I needed, and truely what is given here, is free hosting, tools to create your own Website, also an Affiliate Link. How cool is that. All that is left for me to do, is to take action. Learn to write some good content, and offer that to the Ezine magazines, or put links any where I can, to give myself this simple chance to prove that Making Money On Line is real, its happening right now and I am part of this extravaganza.
If any one should again ask this question, is it true that in this economy people are making money on line, I am beyond belief I now know, because within this short space and time I have already made a few hundred dollars, by writing articles and these articles has links attached to them, showing them that learning is the best way to attain the knowledge of Making Money On Line.
I want people to know where I am getting my knowledge and why I am so adamant about learning the fundamentals of marketing. I am sure you must agree that inorder for any one to know truth, they must be part of it. Therefore, its left with you to register just as I did, to receive the knowledge and know that people are making money from their kitchen tables, from their home base office and any where they could safely connect their computer. Isn’t it not the time for you to take action and make both money and dreams come true?……
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Aug 25, 2010
The Genius Will And Making Money On Line
The Genius Inside is the Will that allows us to recognize our potential. Each day we awake with new hope for a better future and its only when we activate or in other words take action the Genius ” Will”awakes and gets out to assist us, in fulfilling our dreams. If it is to Make Money On Line it will bring us to the destiny of our truth. We are here to live the best life, and we must be ready to show up to enjoy it, the way we should.
By:
Zilla Montoutel
Business>
Home Businessl
Aug 24, 2010
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