Is this another trend? The Equifax Personal Finance Blog recently reported that more Americans are making significant repairs to their homes. Quoting the ServiceMagic Q3 Home Remodeling and Repair Index, real estate expert Ilyce Glink reports that homeowners are focusing on expensive projects that are “necessary” rather than adding on and remodeling their homes.
The article, “Best Time of the Year to Start Big Home Improvement Projects,” notes other Equifax articles that have demonstrated American consumers’ recent focus on paying down debt. Glink points out that certain home repairs have to be handled eventually, even when financial priorities lie elsewhere.
The Equifax post offers a link to the full ServiceMagic report, but one of the most interesting highlights is that 46 percent of homeowners seeking expensive repair and maintenance services have put off the expenditure for at least a year. The general feeling from ServiceMagic (as quoted by Glink) is that homeowners are forced to invest in upkeep because they are choosing to remain in their homes. However, sometimes homeowners choose to pay for repairs and maintenance because they’re getting ready to put their homes on the market. Which do you think is the case?
Glink offers several additional highlights from the ServiceMagic report. In addition, she gives her own recommendations for choosing and working with a contractor to make repairs to your own Atlanta real estate.