Home builders mark remodeling month

Americans spent an estimated $215 billion on residential remodeling in 2005, and the National Association of Home Builders expects that amount to increase. NAHB predicts that remodeling expenditures will grow by 13.2 percent, the largest increase in more than a decade, to a record $238 billion in 2006. Adding to its success, the remodeling industry is entering its peak season, with May marking National Home Remodeling Month.

“We have seen extraordinary growth in the remodeling industry over the past year, and we expect to surpass that in 2006,” said Vince Butler, chair of NAHB’s Remodelor’s Council, in a news release. “National Remodeling Month marks the start of the remodeling season, and we see this as an opportunity for our council to remind home owners of the many resources we offer.”

Home remodeling offers numerous benefits to homeowners who want to change their living environment without moving. Home improvements can add more space for a growing family or older family member, improve energy efficiency and increase the resale value of the home.

“The most popular remodeling projects continue to be kitchens and baths, which usually get the most return on the investment,” Butler said. “Homeowners want to concentrate on the areas where they spend the most time.”

Retirees, especially the baby boomer generation, increasingly prefer to be able to “age in place” or continue living in their homes safely, independently and comfortably, regardless of age or ability level. To help the remodeling industry adapt to meet those specific needs, the Remodelors Council created the Certified Aging in Place Specialist designation.

“The majority of our customers are baby boomers, although we are also seeing strong growth within the gen-X market as well,” Butler said. “People want to let their house adapt with their needs as they change over time.”