Couples often spend years planning for their perfect dream home. Now that the housing market is on the rebound, many are making these dreams a reality. According to the National Association of Home Builders, single family units hit a nine year high of 722,000 housing starts in August of 2016. For the past few years, as the housing market recovered, people have been building equity in their older homes and now many feel it is time to move up or renovate to achieve the home of their dreams.
In fact, according to Houzz.com, homeowners who do decide to stay in their existing homes are spending more these days on their kitchen and bathroom renovation projects. The fifth annual Houzz & Home survey of more than 120,000 respondents in the U.S. found the average spent on kitchen and master bath remodeling projects in 2015 increased by 12 percent year over year. Homeowners who choose to renovate instead of buy largely do so because the want to stay in their current home, or because they love their current neighborhood. Kitchens are the most popular interior remodeling project. 31 percent of respondents had a kitchen project in the works, followed by master/non-master bathrooms projects.
Gen X’ers and Baby Boomers are particularly likely to be pursuing a renovation at this time, and they are purchasing more high-end products, according to the Q2 2016 Houzz Renovation Barometer, which tracks confidence in the home renovation market among industry professionals. In addition to their interest in higher-end products, consumers are tackling multiple renovation projects at the same time.
In North America, fashion forward, contemporary design in the home is becoming increasingly important. Especially when it comes to the look of the kitchen and the bathrooms, doing research and finding the perfect high-quality modern products can make a huge difference. A kitchen remodel can have a return on investment between 60 percent and 120 percent, while a bathroom remodel can see a return as high as 130 percent, according to HGTV.
Element Designs’ products bring a clean, contemporary and modern look to any home. . We offer the highest quality and latest in contemporary casework components including aluminum frame cabinet doors, high gloss PARAPAN cabinet doors, LED shelving and back painted glass which add beauty and increased value to kitchens, bathrooms, closets and more.