Wednesday, April 28, 2010
Remodel for yourself
Who can move? These huts aren’t worth much any more—and often way less than we owe on them.
So we make do. Even people who are “above water,” may not have enough equity to sell and cover a new 20% down payment and fees.
M.P. McQueen wrote about this in the WSJ Apr 24-25, 2010.
Remodeling is up 5%.
People used to do it to sell and trade up. Now they want to make the present homestead more livable.
They no longer care if the investment can be recouped—just if it suits their daily life.
$100,000 kitchen blowouts are slacking in popularity.
Instead—reinsulating is in.
Removing a wall to make the kitchen seem bigger is in.
Go to Remodelormove.com to calculate your planned improvements.
Some people are in it so long-term they are putting in handrails and ramps decades before anticipating that they will need them.
Now that’s commitment to a settled life. All courtesy of our banking and political system.