The good news is the economy appears to be on the mend, and as a result, more homeowners are expected to take advantage of design/build resources in 2013 to create warm, inviting spaces where they can live, work and entertain to their heart’s content!
A recent Home Index survey also shows that many homeowners may want to remodel their homes to accommodate “boomerang kids”—a term used to describe those between the ages of 16 and 30 who are staying at home longer or moving back home after being out on their own. Fifteen of the parents polled said their kids have moved home as a way to save—whether they’re coming straight back from the dorms or from that first apartment they rented fresh out of school. Another 31 percent of the parents polled said they expect their kids to move back home in the future.
Boomerang kids aren’t the only ones expected to occupy the nest. According to the Home Index survey, 32 percent of the respondents said they believe an older parent will move into the home eventually, while 15 percent said they already have one or both older parents living with them.
What does this all mean for you—the homeowner who’s considering remodeling your existing home? Well, for starters, the data underscores the sentiment that now is a good time to get a jump on your home remodeling plans. According to the survey, 72% of the homeowners who had or will have their parents living with them and nearly 50 percent of those polled with boomerang kids said renovating is a viable option they are considering. In addition, the most common home renovation noted was the live-in suite, which is really perfect for aging parents who crave their independence or boomerang kids who, too, want a separate space to call home.
Perhaps you’ve thought about adding a second story to your home or you’ve been wanting to finish that basement or attic to turn it into an in-law apartment to help build up the ties among the generations that are nesting at your homestead. With home remodeling on the rise, according to a recent survey by the American Institute of Architects (AIA), and homeowners amping up their remodeling projects as the economy continues to recover, it’s a great time to contact RemodelWerks for a no-cost, no-obligation consultation on how we can help you transform your living space to accommodate boomerang kids and elderly parents—all while creating a well designed and constructed space that’s got the level of functionality and sophistication you, as the homeowner crave, for now and for resale down the line!
RemodelWerks is Central Massachusetts’ premium design/build firm, and as a NARI-certified remodeler we specialize in home remodeling projects—from whole-home, custom additions (including second stories) and in-law suites to finished basements and attics.
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