DENVER, CO - Residential remodeling, even in uncertain economic times, is still a growing market sector. The growth, even though slower than in the record-breaking years of 2000-2005, hasn’t stalled like new home sales.
The Joint Center for Housing Studies at Harvard University, predicts a 3 percent growth rate in remodeling in 2007—a total that is presently being calculated. That follows 6.8 percent growth in 2006.
The National Association of Home Builders predicts a slight decline in remodeling in 2008, and yet the growth will continue at an estimated 2.8 percent.
NAHB Chief Economist David Seiders was quoted in an NAHB publication for members earlier this year as saying, "Quite simply, we're adding more homes each year than we're tearing down, and those will eventually require remodeling."
One of the main areas of remodeling is the electronic aspect of any residence, according to Gary Stone, President of Allstar Electrical Services located in Denver, CO with services also offered in Colorado Springs, CO.
From approximately Thanksgiving each year through January, home remodeling has traditionally slowed, and yet Stone says his crews have been busier than ever. If anything, says Stone, the cold weather prohibits some projects from progressing as they would during Spring, Summer and Fall in Colorado’s normally temperate winters.
The kinds of projects homeowners are continuing to sign up for include improvements to add additional services to their existing homes, i.e. new service boxes to manage the increased demand for electrical appliances, computers and electronic devices in the home.
Renovations to kitchens and bathrooms are often the impetus for installing new electrical service, but also include things like under-counter lighting, designer lighting and even 220 installations in multiple areas of a home for more than one laundry room—one of the conveniences in luxury homes that have main floor and second floor laundry rooms.
Security installations also are in high demand. With people traveling more than ever before, they want the reassurance that their homes are protected with lighting systems that turn on and off automatically signaling that someone is occupying the home to deter burglars.
Expanded entertainment centers have almost become a standard in homes today. New home developers are including things like plasma TVs as standard inclusions rather than upgrades, and the home improvement market is close on the heels of the new custom contractors, installing professional-scale in-home theaters and wall-hung TVs and speakers in every room in the house, including the bathrooms.
For an electrical review of your current home, contact Allstar Electrical Contractors for an estimate by calling 303-399-7420. Or visit www.allstarelectrical.com online to receive a discount coupon for service on your next remodeling project.