Remodeling on the rebound

INDIAN TRAIL – Business is booming, according to Michael DiFabion, owner of DiFabion Remodeling in Indian Trail.

Starting at the beginning of this year, DiFabion, a certified home remodeler, said the phones have been ringing off the hook as people gained more confidence in the economy and became ready to commit to major home renovations.

DiFabion noted that almost half of his business has been in kitchen and bath remodels, though there is still an interest in general home maintenance and a return of demand for large additions like screened porches or patios.

It’s a major change from the depths of recession when homeowners deferred projects. Now homeowners are willing to spend $55,000 to redo a kitchen or $35,000 on a master bath.

DiFabion thinks demand has grown because homeowners who had put their homes on the market in the hopes of finding a larger or newer home decided to improve on their existing homes. Some homeowners have simply been sitting on the sidelines waiting for the economy to improve before making an investment in their properties.

His company serves clients mostly in the South Charlotte, Ballantyne, Waxhaw and Union County areas, but he says contractors are seeing a lot of demand in Dilworth and Myers Park as well.

“It’s for a mix of homes built from the ‘50s through 2000,” said DiFabion.

National figures reflect the trend of a remodeling industry on the mend, according to a new survey conducted of its members by the National Association of the Remodeling Industry.

Asked to rate their business activity on a scale from 1 to 9, remodelers rated conditions a 6.41 in the third quarter, up from 6.31 during the second quarter, a rating that has steadily increased in the six quarters that the association has tracked.

Respondents said they are receiving more business inquiries, more requests for bids and a greater number of conversions from bids to jobs. The growth in business is strong across all of the United States, but particularly in the South.

As in Charlotte, pent up demand seems to be driving the growth that remodelers are experiencing nationwide. Eighty-five percent cited postponed projects as a major source of business, while 72 percent said improving home prices were affecting homeowner behavior. Greater certainty about the future, at 48 percent, was the third factor contributing to remodeling growth.

“The general sense is that consumers are tired of waiting and feel more secure about spending money,” said Tom O’Grady, chairman of NARI’s Strategic Planning and Research Committee.

Traditionally, the remodeling industry slows as we approach the holiday season. O’Grady said “it’s hard to judge for sure, after consumers spend money during the holidays, how serious they will be in the new year to get that remodeling project under way.”

DiFabion finds that projects in Charlotte are pretty consistent throughout the year. In his personal experience, once the holidays are over, homeowner call

INDIAN TRAIL – Business is booming, according to Michael DiFabion, owner of DiFabion Remodeling in Indian Trail.

Starting at the beginning of this year, DiFabion, a certified home remodeler, said the phones have been ringing off the hook as people gained more confidence in the economy and became ready to commit to major home renovations.

DiFabion noted that almost half of his business has been in kitchen and bath remodels, though there is still an interest in general home maintenance and a return of demand for large additions like screened porches or patios.

It’s a major change from the depths of recession when homeowners deferred projects. Now homeowners are willing to spend $55,000 to redo a kitchen or $35,000 on a master bath.

DiFabion thinks demand has grown because homeowners who had put their homes on the market in the hopes of finding a larger or newer home decided to improve on their existing homes. Some homeowners have simply been sitting on the sidelines waiting for the economy to improve before making an investment in their properties.

His company serves clients mostly in the South Charlotte, Ballantyne, Waxhaw and Union County areas, but he says contractors are seeing a lot of demand in Dilworth and Myers Park as well.

“It’s for a mix of homes built from the ‘50s through 2000,” said DiFabion.

National figures reflect the trend of a remodeling industry on the mend, according to a new survey conducted of its members by the National Association of the Remodeling Industry.

Asked to rate their business activity on a scale from 1 to 9, remodelers rated conditions a 6.41 in the third quarter, up from 6.31 during the second quarter, a rating that has steadily increased in the six quarters that the association has tracked.

Respondents said they are receiving more business inquiries, more requests for bids and a greater number of conversions from bids to jobs. The growth in business is strong across all of the United States, but particularly in the South.

As in Charlotte, pent up demand seems to be driving the growth that remodelers are experiencing nationwide. Eighty-five percent cited postponed projects as a major source of business, while 72 percent said improving home prices were affecting homeowner behavior. Greater certainty about the future, at 48 percent, was the third factor contributing to remodeling growth.

“The general sense is that consumers are tired of waiting and feel more secure about spending money,” said Tom O’Grady, chairman of NARI’s Strategic Planning and Research Committee.

Traditionally, the remodeling industry slows as we approach the holiday season. O’Grady said “it’s hard to judge for sure, after consumers spend money during the holidays, how serious they will be in the new year to get that remodeling project under way.”

DiFabion finds that projects in Charlotte are pretty consistent throughout the year. In his personal experience, once the holidays are over, homeowner call volume picks up too.