Americans are spending enormous amounts on home improvements, from small repairs to big projects. New homes, existing homes, and homes yet to be built are getting lots of loving care, and Home Depot’s current bottom line reflects the trend. The world’s largest home-improvement chain, Home Depot just ended a record-breaking quarter.
Dale Tyson, owner of Homefront Realty, says it’s not only new home buyers. “Instead of buying a house, a lot of people are wanting to fix up what they already have,” he notes. “A lot of them have older homes built in the ’70s and the ’80s, and now they want the granite, they want the recessed lighting, and they want to add onto the house or change out the bathroom.”
Tyson says a lot of homeowners may get the rehab bug from home-handyman TV shows. “With the number of rehabs going on, there’s a tremendous amount of need for the materials,” he points out. “And the TV shows are contributing to people wanting to update and remodel their house.”
Referring to a flip he completed a month ago, Tyson recalls that the job took Sheetrock, painting, cabinets, flooring, and general repairs. “All that material comes from someplace,” he says, “and the hardware stores are a great source for that.”
Tyson concludes that whether you’ve just bought the place or have lived there awhile, “It’s a great time to do the remodel on your house. With the economy being as strong as it is, take an opportunity now.”