According to some home improvement experts, 2011 is shaping up much the same as 2010. The economy seems to be moving away from collapse and homeowners have come to accept the current malaise as the new normal. In some parts of the country there have been signs of tepid recovery, while in others, housing continues to sprial into unfathomed depths. The failure of government to act boldly and with confidence in the strength of our economic foundation has left many homeowners and investors feeling adrift in a sea of surrender.
Homeowners are now beginning to discover that there is more to life than buying homes for short-term investment and then selling them as a step upwards in society. That was the old American Dream. The new reality is, however, quite different and may prove to be the best form of investment there is.
In today’s new housing market, homeowners, willing or not, are finding they have a range of new opportunities. Today, home ownership is more about embracing the role of a home in sustaining family and quality life style. Homeowners seeking to improve their homes through rennovation, home repair, or refurnishing, are spending more, but also are more value conscious. The majority of home improvement dollars are forecasted to be spent on so-called green, or energy and environmetal friendly products.
So, here’s a short list of what’s out and what’s in for the foreseeable future in home improvement.
What’s Out: Mega-mansions and moving up. Status is no longer about consumption, it’s about family identity, connecting with your community, and enjoying a technologically enhanced home that harmonizes with family values and tradition.
What’s In: Well-designed living spaces with plenty of utility and storage. Exterior facelifts to enhance the home’s curb appeal and neighborhood, updating the home’s technology, entertainment systems and security, money saving energy efficient products, remodeling for suit the homeowner’s family lifestyle instead of market perceptions.
When it comes to deciding what homeowners should do under the current economic downturn, some people belive that trends are basically irrelevant indicators. However, by observing and staying aware of home trends can help by feeding the imagination and validating personal belief and values about what their home should be as a place to raise a family over the years to come. Many homeowners love to get ideas by discovering what others are doing that is new, different and relevant to issues that are important to them.
While the economic downturn may have burst the housing bubble, or vice versa, the homes of tomorrow are far more likely to be better maintained, equipped and energy efficient than ever before. That’s a trend that matters, one we can all look forward to.