With residential values rising and the number of houses to purchase at an all-time low, more homeowners are choosing to remodel. After a solid gain in 2013, housing analysts say that U.S. expenditures for home remodeling and improvements could hit a record high this year.
Americans spent about $310 billion on these projects last year. That’s up from a recent low of $276 billion in 2011. As in previous cycles, Americans are spending most of their remodeling dollars on new kitchens and bathrooms.
Are you planning to remodel in 2014?