Local News and Information
Homes are Growing Older. Is it Time for a Remodel?
Professional home builders construct homes to last. However, over the decades homeowner needs and preferences evolve. If you’re a homeowner who has recently purchased an older home or spent decades making memories in your current home, you’re not alone. The median age of owner-occupied homes is 40 years, according to a National Association of Home Builders (NAHB) analysis of America Community Survey estimates.
A closer look at the nation’s housing stock data reveals that many properties may be due for an upgrade. A little less than half of the owner-occupied homes in the nation were built before 1980, with around 35% built before 1970, according to NAHB. In contrast, new construction added nearly 8.3 million units to the national housing stock from 2010 to 2021, accounting for only 10% of owner-occupied housing stock in 2021. Chattanoogan homes skew even older than the national average with the median age of homes being 1974 and over 58% being built before 1980, according to the latest Census data.
Taking steps to modernize your home isn’t only about interior design changes like removing shag carpeting. Any improvement project, big or small, can make your home more enjoyable and increase your comfort level. Updating your property also has the potential to add value to your home. According to Remodeling Magazine’s Cost vs. Value 2022 Report, upgrades such as a siding replacement, a small kitchen remodel, and windows or entry door replacement provide a great return on investment and add to a home’s resale price.
It might be challenging to know where to start if your home needs significant upgrades. A professional remodeler can provide a wealth of experience and solve any design challenges you may encounter during your project. Home remodeling frequently involves problem solving, such as maximizing existing space, strategically building additions, or navigating limited budgets. Professional remodelers help homeowners manage such challenges and meet their needs while staying within the budget. To find a professional remodeler in our community, visit our member directory.