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Austin Homeowners Should Expect Home Remodeling Increase
The number of households belonging to older adults is on the rise across the nation, and (let’s face it) the homes themselves aren’t getting any younger. So states the Harvard University's Joint Center for Housing Studies' Housing Perspectives (JCHS), which recently published the projection that, if true, makes it likely that Austin home remodeling activity will spike in the coming years.
 
Abbe Will, research analyst for JCHS drew this conclusion:
 
"Since much of the housing stock is currently ill-equipped with even basic accessibility features, older homeowners aging in place will need to invest in retrofitting their homes in order to age comfortably and safely.” In other words, even for homes which remain in their owners’ hands, home remodeling activity could grow markedly.
 
Home remodeling is no minor industry. Home improvement expenditures by older homeowners already topped $90 billion in 2013—making it a significant economic contributor. Now the JCHS projects that it could surge by an extra $17 billion annually over the next three years. Welcome news indeed for the construction and design industries, who had been in the doldrums until recently.
 
But what does this mean for Austin homeowners who plan to sell in the near future?  When considering a remodel, if you want your ... more

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