The home remodeling trend is on the rise. Harvard's Joint Center for Housing recently released a report estimating an increase in home repair expenditures and home improvement projects to levels far exceeding the historical average of 4.9 percent by the beginning of 2017. Home value increases have afforded 38 million homeowners a minimum of 20 percent home equity. The confidence that homeowners have gained in regards to the worth of their homes has led many of them to invest in their structures.
The changing face of home remodeling projects
As homeowners consider ways to increase the value of their homes, kitchen and bathroom expansions and redesigns have traditionally taken center stage. However, in recent years, homeowners are looking at less flashy projects; focusing on jobs that are more practical and sensible in nature, such as new roofs or tearing out one wall to open up floor space.
With a 67 percent increase in these types of single-focus projects since 2015, experts predict the percentage of growth in home remodeling to surpass new construction of homes and complex room additions to increase square footage.
The reputation of the contractor is critical
With the growth in the business opportunities, comes growth in the number new entries into the home remodeling industry. Today more than ever, homeowners must be concerned about fraud and unskilled labor entering the market. The reputation of the contractor has become a critical factor when deciding who to hire.
Before selecting a contractor, homeowners should do their due diligence to ensure that their contractor of choice is licensed, bonded and in good standing with their community's coding officials. Even after doing their homework before signing the check, however many homeowners find themselves in situations where their homes have been damaged as a result of poorly constructed additions, or faulty materials used for home improvement or remodeling projects.
Local problems in the Raleigh metro area
Due to tropical storms and the occasional hurricane ravaging the area, homeowners in the Raleigh Durham area especially susceptible to fraudulent contractors who show up in the area following a storm. Roofing that has not been placed properly and poor wall reconstruction projects can cause significant damage to a home. A home with a faulty roof or room additions improperly attached and sealed to the main structure will be susceptible to leaks, mold and mildew, termite and other bug infestations and the weakened structural integrity of the home.
It should be emphasized that construction defects decrease home values, and can also be the result of poor workmanship, a faulty design or flawed materials. Homeowners who find deficiencies in their home improvement projects should keep records pertaining to the materials that were used for the project.
Contact an experienced, reputable construction litigation law firm to discuss your concerns about poor materials or workmanship that has caused further damage to your primary investment.