Top Home Renovations During The Pandemic. Tips To Prepare For A Renovation.

By
Real Estate Agent with Coldwell Banker Realty
https://activerain.com/droplet/5p6W

 

Home Renovations During COVID-19 Increased 58%

 

Even though many homeowners put home improvement and renovation projects on hold during the pandemic, home renovations increased some 58% during the pandemic according to a report by Houzz

 

And it appears there's no end in sight, especially as housing inventory is razor-thin in many markets. So homeowners, who otherwise would have sold their homes and moved into a new home, are staying put and renovating and/or expanding their current homes. There will also be a continuing demand for home improvements/renovation after the pandemic as many homeowners put their plans temporarily on hold due to safety concerns during the pandemic.

 

Houzz also reported on the biggest challenges homeowners faced while sheltering in place, which gave rise to an interest in renovating:

 

  1. Lack of storage: 34%
  2. Lack of lighting: 24%
  3. Lack of exercise space: 23%
  4. Lack of outdoor space: 16%
  5. Lack of privacy: 15%

 

 

One of the top "renovations" in the Charlotte area has been for pool additions. A top pool companies in the Charlotte region now has almost an 8-month waiting list for new pools! That's as long as it takes to build a new house these days in the Charlotte area.

 

 

What To Expect If You Are Planning A Renovation Right Now

 

What you can expect if you're thinking about renovation is that the renovation will cost you more than you think it will and it will most likely take longer than you think it will. Part of this is due to a lack of building materials and increased cost of building materials. And part is due to demand that local renovation companies can't keep up with.

 

 

7 Tips To Prepare For A Renovation:

 

  1. Make sure you know what your purpose is in renovation.

  2. Plan your renovation thoroughly before you begin -- time frame, priorities.

  3. Set a realistic budget for what you want to accomplish. (Don't forget it will cost you more than you think.)

  4. If there are smaller projects you can DIY, do it yourself.

  5. Don't forget about permits. It can be costly later on if you skip this step. Don't be penny wise and pound foolish in this regard.

  6. Be prepared for delays and don't forget to have a plan of how you might need to adjust living in your home during the renovation process. (Don't forget it will probably take longer than you think.)

  7. Make sure you understand how your renovation will impact the value of your home.

 

 

Top Renovations During COVID-19

 

 

 

Thinking About a Home Renovation Or Improvement Project In The Charlotte Area?

 

If you've been thinking about upgrading your home be sure you fully understand whichrenovations will add the most value to your home when you do decide to sell. You don't want to over-invest for your neighborhood.

 

Contact Carolinas Realty Partners if we can answer any questions you might have about the Charlotte metro housing market or about what renovating your home might entail and their impact on your home's value. We can also provide referrals for your home improvement/renovation projects.

 

 

 

Wondering What Your Charlotte Metro Area Home Might Be Worth In Today's Market?

 

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 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Joe Jackson 09/28/2020 07:31 AM
Topic:
Home Improvement
Location:
North Carolina
Groups:
Local Expert
Charlotte NC Real Estate
Inspiration Station
Tags:
home renovation
great homes in charlotte
top home renovations
top home renovations during covid
top home renovations during pandemic
covid19 and renovating your home
tips to prepare for a home renovation

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Show All Comments
Rainmaker
3,707,524
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. Great list! People do need to measure the desire for an improvement and the impact on the value. Enjoy your day!

Sep 28, 2020 05:13 AM #1
Rainmaker
3,729,954
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Nina - I am a bit(but not overly) surprised to see pools rank so high in renovation plans in Charlotte especially when "delayed gratification" is not always a part of life for many people.  

Knowing the purpose, being well-prepared, the proper plan in place as well as having some extra cash reserves because those "necessary" changes that occur during the process seem to be present in every project.  

Sep 28, 2020 05:56 AM #2
Rainmaker
3,563,492
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin good morning, Wayne... that's so true and over the years I've seen so many people who made the "wrong" decisions about where and how they spent their money on improvements and renovations.

Sep 28, 2020 05:56 AM #3
Rainmaker
1,625,253
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

I do think home owners (who have all of a sudden been spending a lot of time at home) are realizing what no longer works. Privacy would be a big need!

Sep 28, 2020 05:57 AM #4
Rainmaker
3,563,492
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Michael Jacobs hi Michael... because we are not a yar-round pool climate, pools have been the exception rather than the rule in our area... and also because so many of our newer communities have community pools. But with the pandemic, many community pools did not open this year or had very restricted useage... that really bumped up the interest in private pools. At one time homes with pools could take longer to sell... now they sell in a NY minute.

Sep 28, 2020 05:59 AM #5
Rainmaker
3,563,492
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Kat Palmiotti good morning, Kat... I've never been a big fan of that totally open floor plan concept... never enough privacy for me... and I think people are beginning to realize family members need their own little corners.

Sep 28, 2020 06:00 AM #6
Rainmaker
3,035,588
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

These are great tips and I am sure that many people are doing some renovations since they are likely at home more often through this pandemic.

Sep 28, 2020 07:16 AM #7
Rainmaker
3,563,492
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi again, Brian... people who are thinking about doing renovations right now will be waiting a long time to get a contractor out to bid the job.

Sep 28, 2020 07:29 AM #8
Rainmaker
2,152,579
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Great tips! Thanks for sharing! 

Sep 28, 2020 07:30 AM #9
Rainmaker
3,563,492
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joe Jackson good morning, Joe, and thanks for popping by. Wishing you a great week ahead.

Sep 28, 2020 07:31 AM #10
Rainmaker
5,001,845
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

I have been hearing this for quite a while.  My sister in-law who owns a couple of furniture store is seeing an uptick in her sales as a result.  People redo and repaint, and then realize their need new furniture.  A

Sep 28, 2020 10:24 AM #11
Rainmaker
3,563,492
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Seigel hi Alexandra... what is really interesting is how long people are waiting for contractors to bid jobs, for material for renovations. I have three new construction contracts and all aren't closing until spring 2021.

Sep 28, 2020 10:27 AM #12
Ambassador
4,075,264
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina I guess I fall in the number one spot.  I added a storage shed this Summer.

Sep 28, 2020 02:13 PM #13
Rainmaker
3,563,492
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto hi George... I remember you working on it. Here in the Charlotte area people have gone bonkers trying to put pools in.

Sep 28, 2020 03:22 PM #14
Rainmaker
3,108,726
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Nina, very valuable list of home renovations tips during pandemic. 

Sep 28, 2020 04:34 PM #15
Rainmaker
3,563,492
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

John Pusa thank you, John. I think as people spent more time at home they began realizing their homes needed a little extra something.

Sep 29, 2020 05:00 AM #16
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Rainmaker
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