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In January 2017, the NKBA released its "Estimated Market Value for the Kitchen and Bath Remodeling and New Residential Construction Markets" [7] report that found that the $134 billion industry is segmented into a kitchen and bath remodel and replacement market of $85 billion for existing homes, and a similar market for new homes of $48.6 billion.
Aug. 19—Wood costs have skyrocketed over the past year, leaving would-be home renovators to choose between waiting in price purgatory or moving forward and possibly overpaying.
The concept of home improvement, home renovation or remodeling is the process of renovating, making improvements or making additions to one's home. [1] Home improvement can consist of projects that upgrade an existing home interior (such as electrical and plumbing), exterior (masonry, concrete, siding, roofing) or other improvements to the property (i.e. garden work or garage maintenance ...
Direct costs may also include the costs of project planning, investigation, studies, and design; land or right of way acquisition, and other non-construction costs. Usually, a subtotal of total direct costs is provided in the estimate. Provisions are made for Indirect costs in addition to the direct costs.
A natural experiment reveals the prevalence of one kind of unwarranted optimism. The planning fallacy is the tendency to overestimate benefits and underestimate costs, impelling people to begin risky projects. In 2002, American kitchen remodeling was expected on average to cost $18,658, but actually cost $38,769. [2]
The rate on the popular U.S. 30-year fixed-rate mortgage will average around 6.0% next year and help to boost new housing construction and stimulate demand for previously owned… NBC Universal 2 ...
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