While talking with a past client of ours - one that purchased pre 2000, I was happy to hear they were still very happy with their "decision" to purchase when they did. In fact, "Carl" told me that he and "Denise" were planning an addition onto their home.
They have crunched the numbers and are going to add on instead of move. They have been able to get their mortgage loan down to 10 years. "That's it - after that Denise and I can Relax...", Carl said, after informing me of the upcoming change.
It makes me happy to see good people doing great things. Even if those "things" are not "Earth-shattering". Carl and Denise are an example of the "happy real estate owners". He was not upset that there were foreclosures on his very own street. He did not appear irritated that his neighbors had been short selling their home. He was just.... "Carl".
However, one of the things Carl asked about was investing in Real Estate. I told him that we will need to have an in person "sit down" in my offices at REMAX so I can cover the A-Z of it. We are meeting next week - Just thought I'd share prior to getting into the "remodeling post". (click here if you are interested in real estate investing)
Taking a look at current real estate trends shows that many people are planning to stay in their homes longer and are making changes so that their homes suit their needs. Remodeling and renovating has picked up speed in recent months thanks to exceptional affordability and the fact that many people are deciding not to move. However, instead of making changes to improve resale value, changes are being made to meet the wants and needs of individual homeowners.
Home improvements or additions that are taking place may include a full service home office, a mother-in-law apartment to take care of aging parents, a home gymnasium, or creating a kitchen that a professional caterer can work out of. Homes are often serving the purpose of both home and work these days and improvements are being made to streamline people’s lives. People want to be happy in their homes.
Many people hurt by the economy simply cannot get financing, which is triggering the trend to stay in a home longer than perhaps was originally planned. Changing a current home to meet a homeowner’s needs is becoming more and more mainstream.