Market Woes Push Homeowners To Build Their Dream Home, Not Buy It

Kitchen and bath design company, EuroDream Kitchens and Design Gallery, found an increase in homeowners remodeling their current house rather than buying their dream home.

The company not only remodels kitchens and baths, but also provides award-winning design ideas for other areas of the homes for people looking to save space, increase flow and blend new trends with existing styles in homes. EuroDream works with clients who want to age in their current homes, and must transform them to meet their present and future needs.

This trend coincides with the findings in the most recent State of the Nation's Housing report out of Harvard's Joint Center for Housing Studies. This report found that many baby boomer-aged homeowners were not selling their current homes in search of a home in which to age. The report also found that remodeling activity did not drop as severely as new construction spending, illustrating how homeowners had no choice but to improve their current homes.

The report looked to Federal stimulus spending as aiding in home improvement spending when $5 billion was provided to low-income owners for weatherization expenses. Also, tax credits were implemented for energy-efficient upgrade projects. According to the report, the number of professional remodelers reporting they had worked on projects linked to the energy-efficiency tax credits increased from 39 percent in 2009 to 53 percent in 2010.  

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