We have noticed a consistent trend towards remodeling over the last few years, and according to the National Association of Home Builders, remodeling has surpassed new construction for the last three years in a row. There are many factors that are contributing to this trend which are outlined in this article by David Crowe, Chief Economist at the NAHB.
Remodeling Vs. New Construction. The challenge still comes when balancing a major remodel or renovation project versus building new. Building codes have probably had the biggest impact on the cost of a major remodel, especially here on the Cape, and there is definitely a detailed financial analysis required for both scenarios. REEF has found that the costs of a major re-model can sometimes exceed those of comparable new construction. If you are thinking about a remodeling or renovation project, click here to contact us for a free consultation
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