All around the country, the construction and remodeling pundits want to know: In a down market, are you more or less likely to remodel your kitchen? Both arguments have merit.
Why a kitchen remodel is more likely now: You realize with falling values that you’re not moving any time soon, and so why not remodel and enjoy? Or if you need to sell, you realize it will take some sprucing up to get buyers’ attention.
Why a kitchen remodel is less likely now: With falling or leveled-out values, there is no equity available to finance the remodel. And, why sink money into an asset with a possibly declining value?
So, which is it?
Photo: MYUNG J. CHUN / Los Angeles Times)
Copyright Kathy's Remodeling Blog (c) 2014 — Reproduce Content Only By Permission