One of the busiest years for remodelers was 2021, in the wake of the COVID-19 pandemic and during a highly competitive home buying market. Home owners increasingly sought the expertise of professional remodelers to help modernize their existing homes.
Remodelers surveyed by the National Association of Home Builders (NAHB) at the end of 2021 said demand for projects of all sizes remained even stronger than it was at its peak in 2020. A big reason why stems from the record growth in home values.
“Higher home equity provided resources for home owners to improve their existing homes, supporting high demand for remodeling,” says Steve Cunningham, CAPS, CGP, a remodeler from Williamsburg, Va. “And with countless innovations in building products and design techniques, it’s an exciting time for home owners who want to improve their home.”
If you are thinking of updating your current home for 2022 and beyond, here are three guidelines to consider.
Our lifestyles have evolved and so has our reliance on the home as a place to work and learn. After a few years of social distancing and modified work schedules, most home owners who need a home office space have already created one. The next step is to make it versatile.
“Home office space has re-emerged as an essential element, but it’s been redefined in a way, says Ed Binkley, director of design at BSB Design in Orlando. “Now, it’s more about creating a space that’s flexible and can easily adapt to the unique needs of different people, whether they need a home office, a gym or more space to entertain.”
Design for the Future
Trendy colors and decor will come and go. But something that will never go out of style is energy efficiency. “The large majority of prospective buyers whom we survey each year consistently rank having energy-efficient features throughout the home at or near the top of their priority list,” says Rose Quint, assistant vice president for survey research at NAHB.
Home owners who incorporate green elements will experience long-term benefits in energy cost savings, higher resale value and enhanced living comfort. Aside from energy-efficient appliances, features that often go unnoticed but can make a significant impact include low-E windows, energy-efficient roof shingles and tiles, and spray-foam insulation. Smart-home devices can also produce significant energy savings. Remote- and voice-controlled lighting solutions, customizable thermostats and automated whole-home security systems are popular integrations for today’s smart homes.
Builders and remodelers expect supply-related delays in 2022. The challenges depend on the scope of your project and the types of materials needed. It is important for all parties to establish clear expectations for project milestones and to remain flexible if delays occur.
Experts recommend having a backup plan in the event of remodeling project delays. Perhaps there will be a delay on the new kitchen appliances, and you will need alternatives for cooking and storing food. Or bathroom finishes might take longer than expected to arrive and you will need to continue relying on a secondary bathroom. Project disruptions can be inconvenient but having alternative plans in place will make them more tolerable.
To learn more about remodeling projects or to find a remodeler in New England, contact your local association, here.