Residential Remodeling: Orlando ranked among top 10 cities
Residential remodeling in the United States increased by 9 percent from December 2014 to December 2015, and Orlando had some of the most activity in the country, according to a report from BuildFax.
Rather than moving and choosing a new construction home, Orlando residents are choosing to upgrade their current homes. Orlando was ranked No. 2 for residential remodeling in the BuildFax report, which calculated the ranking by using construction records with more than 23 billion data points, including number of residential remodeling projects per household, the statement said.
The top 10 cities are:
- Colorado Springs, Colo.
- Orlando
- Denver
- Minneapolis
- St. Paul, Minn.
- Tampa
- Aurora, Colo.
- Portland, Ore.
- St. Louis
- Madison, Wis.
“As more and more people renovate their homes, the surrounding property values go up, too. So even if you’re not actively fixing your place up , you’ll see the comps in your area increasing in value,” said Holly Tachovsky, CEO of BuildFax, in the statement. “As economic conditions appear to be consistent with those of 2015, we expect residential remodeling to continue at the same pace.”
BuildFax is an insurance and financial services company based in Asheville, N.C.
Source: Orlando Biz Journals
Remodeling will bring value to your home if done correctly. Typically even a home with just a remodeled kitchen can sell 50% faster on average. Please give us a call if you are seeking some advice about listing your home. We can provide you with a C.M.A. (Comparative Market Analysis). You can also sign up for our MarketWatch Survey as well.