I have discussed real estate trends in my blog several times but there is a definitely new trend that retailers say are the result of "staycations." When this term first emerged in a big way last year it meant simply not going abroad for a get-away. However, with the deepening of the recession and the uncertainty about job retention staycations have come to mean staying home rather than taking a vacation somewhere else.
Staycations have made an impact on the remodeling industry. According to builder information provider, Hanley Wood, it is projected that in 2016 the home remodeling sector will have grown 62% in a decade. What's interesting here is that people are focusing their remodeling efforts on their backyards.
Just a few years ago people were determined to upgrade their "curb appeal" by landscaping and installing lighting effects in their front yards. The focus now is the backyard where 70% of consumer purchases for outdoor remodeling are being used "customize their outdoor space." People are focusing on their backyards with an eye toward entertaining or being entertained at home.
The recession has prompted a lot of people to consider do-it-yourself kits for special lighting, fancy barbecue kitchens, etc. If you are a d.i.y. expert remember, be certain to install fixtures made of all-weather brass and invest in low-voltage lighting. Your local Home Depot or Lowe's have lots of expertise and can offer lots of good advice.
If you're stuck with a staycation this year consider your own backyard. If you plan to put your home on the market in the next year or two such enhancements could make it easier to sell your home. When you're ready to sell your Omaha home please give me a call at 402-697-4251 or email me at Marie.Otis@cbshome.com.