Move or Rehab Your Home?

A new trend seems to be developing in the real estate world: complete rehab — or renovation — projects of existing homes.

Old Mt. Pleasant addition built by B. Chaney Improvements of Charleston, SCSome experts believe the trend is due to several factors in the national economy, as well as a change in the thinking of homeowners. Nationally, many markets are seeing a slow-growing housing market — unlike the Charleston-area market — but are gaining confidence in the overall economy. This is leading to people feeling secure enough to spend some of their available capital to improve their current homes. This may be seen as safer than jumping into a new mortgage.

According to information gathered by reps from a building materials supplier, the major rehab trend will continue at a double-digit pace for at least the next five years. The reps believe Old Mt. Pleasant addition with bathroom built by B. Chaney Improvements of Charleston, SCthat complete kitchen and bath overhauls will lead the way, with common space living areas being the focus of updating and expanding. These areas often get updated and connected to major additions to provide more square footage to gathering areas.

While the Charleston real estate market continues to be as hot as any in the country, many homeowners may be choosing to hold onto to their investment, while upgrading, renovating or adding major additions to increase the value and comfort of their dwellings. This approach offers many upsides, including staying in familiar surroundings. If the market continues the steady climb, the upgrades will still add considerable value years down the road.

Another area of renovation is in replacement windows and exterior doors. The building supply spokespeople say that many dwellings built during the housing boom of the early 2000s have windows and doors that are now failing to do an adequate job of keeping heat, cold and noise outside. They add that many superior-quality replacement windows and doors are now available and provide a fkitchen before and after remodelingunctional and aesthetic upgrade, adding “curb appeal.”

If you have questions about a rehab project on your house, or building a major addition or a new home, contact the B. Chaney Improvement’s Charleston, SC office through this website or call at 843.388.4334

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