Recent industry research suggests that the home remodeling industry is thriving and only shows signs of continuing this positive growth into the future. A combination of demographics, a healthy existing sales market, and an aging housing stock provide the perfect stimulants for growth in the home improvement sector.
Today, the average age of the housing stock in the US has increased to 37 years. As the age of homes increase, the need—and of course the demand—for remodeling projects increases. The tax depreciation period for residential rental property still sits at 27.5 years. That is nearly 10 years younger than the average age of the housing stock The significantly older home average spurs many remodels geared toward general livability improvements, energy efficiency updates, and aging-in-place residential improvements.
These are trends we see across the board with many of clients in recent years. We at Airoom work hard to deliver the remodel that is perfect for each homeowner. We provide excellent options to update and increase energy efficiency in any remodel—check this earlier piece for great information on where and how we can do that for you. We also find that a priority for many of our clients include updates that allow them to continue to live in their home as they age. There are many aging-in-place updates that we discuss in an article here, have a look and see how many of these ideas can also work in your home.
Whether you’re a recent purchaser who needs improvements to make your home more livable or a long-term owner who seeks updates to continue to enjoy your home into the future, the necessity of remodels is undeniably and positively reviving the health of the industry.
For more information on what Airoom’s Design Professionals can do for your space, reach out to our team at [email protected].