Home Remodeling Projects Said to be Increasing

02/03/2010

With the economy and housing market starting to pick up, recent data suggests that homeowners will also start working on more remodeling projects in the coming year.

According to the Spring 2010 Remodeling Sentiment Report from RemodelorMove.com, the number of homeowners planning to begin home improvement projects in the next 12 months has risen by 13 percent.

The latest increase comes on the heels of a 5 percent increase in such intentions reflected in the spring 2009 report, indicating that the remodeling business is steadily improving after a recession that saw many people focused on saving every dollar possible.

The report noted that adding a new bathroom is now the most popular home improvement, while remodeling kitchens and bathrooms has lost popularity in recent months. Homeowners are also said to be looking to save money on building materials and in some cases, are acting as their own general contractors.

However, those who do undertake remodeling projects should also check their home insurance policies to make sure their coverage needs are still adequately met. This is because adding new rooms can increase the value of a home and make the potential cost of replacing it in the event of a disaster that much higher.