HOUSTON -- Houston homeowners are once again spending money to upgrade:
not by buying bigger, new homes, but by remodeling what they have.
"I'm seeing a whole lot more activity," said Fred Spaulding of Quality Home
Improvements.
Remodelers like him said that as the economy tanked in 2008, so did home
remodeling. Now, home improvement is back. But homeowners aren't necessarily
doing it to sell their homes for a big profit, they're staying put.
"There's a lot of people improving their homes to stay in place," said Robert Birner
of Amazing Siding.
With homes appreciating more slowly, or even losing value, and with mortgages
harder to get, the idea of living for just a few years in a home then selling and
buying something better may no longer be so easy.
The alternative is to fix up what you have. And few are doing as much as one
growing family in Montrose.
"We're here for the next 18 years, I think," said Kathleen Meyer.
Eight years ago, she and her husband bought their one-story bungalow which was
built in 1924. Now, with two little children, they've run out of room.
Their solution is to expand.
"Added a whole second story that wasn't there before," explains their contractor,
Stephen McNiel of Creative Property Restoration. "It's definitely a big job."
The second story will cost well over a $100,000. When it is completed later this
summer, it will have added two bedrooms for the kids, a guest bedroom, a play area
and a kitchenette.
Meyers said it made economic sense because to buy something equivalent inside
the Loop would have ended up costing as much, if not more, than what they could
get for their bungalow with the added renovation cost. And since they love the
neighborhood, they said they decided to renovate what they had.
Smaller jobs are far more common. Houston contractors said the most popular
work they do is renovating bathrooms or kitchens. Or more recently, installing
energy-saving windows because of a tax break that expires soon.
At a post-WWII era ranch-style home in the Heights, a crew was knocking out old,
metal-framed, single-pane windows. In their place the crew will install new, double
-paned and specially-coated windows that promise to keep out summer heat.
What's more, a Federal tax incentive will reduce the $11,000 cost.
"This person is going to save. They'll qualify for the full $1500 on the tax credit,"
said Robert Birner.
The tax credit covers 30 percent of the cost of materials with a cap at $1500. It also
applies to new reflective roofs, insulation and energy efficient water heaters and
A/C units. The deadline is the end of this year.
But here's a word of warning: remodeling can mean weeks of living with
inconvenience and destruction. Kingwood homeowner Cassie Moore found that out
when she checked the progress on her new bathroom.
"Oh my goodness! Wow! ", said Moore after seeing the job in progress.
She was looking over what had become of her old bathroom in her 23-year-old twostory
home.
Her old tub was in pieces. Her vanities were soon to follow. Two crew members
stood by with hammers in hand.
"It's a mess," but worth it she said.
Moore showed off her kitchen she had done two years ago along with two other
rooms.
"We are thoroughly enjoying the kitchen and living room and dining room, and I
know I'm going to enjoy the bathroom," she said.
If the Moores sell, they can expect to get back 70 percent of the remodeling cost, the
average in Houston according to the remodeling industry.
Comments(0)