| Press Releases
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For Immediate Release
10/11/2005
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Ashley Dicksa
Tel.: 888 825 4169
Email: ashley@remodelormove.com
Media kits, review copies and interviews available on request. Special feature article inquiries welcome.
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Survey reveals new trend — homeowners preferring to stay put and remodel over buying a new home
A recent survey of 5,000 homeowners indicates that homeowners may not be as willing or able to buy a new home as they used to.
Sunnyvale, CA (October 11, 2005) — Sunnyvale California based remodeling expert Dan Fritschen, author of the book Remodel Or Move, conducted a survey of 5,000 homeowners in the spring of 2005. The data shows that homeowners are overwhelmingly leaning away from new home purchases in favor of remodeling the home they presently live in.
The survey focused on those who felt underserved by their current living quarters. All participants were considering remodeling their existing home or moving to a different one. Participants had lived in their current home (with a average home value of $419,000) for an average of 8.5 years.
Survey respondents overwhelming stated that this will be their last big change in housing for a very long time. On average, they expect to stay in their current home or the one they are about to move to for 18 years.
This is dramatically longer that all previous indications. Fritschen says that the results are surprising and indicate that people may not be as willing and able to pay for ever-increasing prices for new houses.
Fritschen said, "The boom in the new housing market may be coming to an end. People may be at or close to their limits."
Fritschen has developed considerable expertise helping people analyze whether to remodel or move. He says that while remodeling may be fun and cost effective for some, there are also situations where it just may not be the right thing to do.
His book Remodel or Move: Make the Right Decision contains strategies and tactics designed to help homeowners work through the decision process. The book contains an ample combination of unbiased reference materials and no-nonsense advice.
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Remodel or Move?
Make the Right Decision
by Dan Fritschen
$15.95 Buy now
Available in bookstores nationwide or online.
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Among the other findings in the survey:
- Do-It-Yourself is on the rise for both remodelers and movers; 25 percent plan to be their own remodeling contractors, 60 percent will do at least a portion of the remodeling work, and 30 percent of those who plan to move will sell their own homes without an agent.
- Fully 1/3 of those who plan to remodel will spend 30 percent of their home's value on the project (much higher than the industry-standard recommendation of 20 percent or less).
- 50 percent of the respondents want more rooms, such as dens and bedrooms.
- 60 percent feel their bathrooms are inadequate; and 50 percent want an improved kitchen.
- 55 percent of those who are considering remodeling are excited about the idea; 10 percent are dreading the process.
For more information visit www.remodelormove.com This web site is packed with helpful articles and also contains a unique remodeling or moving costs calculator that helps you take all the right factors into account and help decide which pathway is best for you.
Media kits, review copies and interviews available on request. Dan also has a number of articles available on a variety of remodeling topics. Special feature inquiries welcome.
About RemodelOrMove.com
RemodelOrMove.com is set up to help homeowners make the difficult and expensive decision between remodeling and moving. It contains a set of tools and resources that enable homeowners to boil down a relatively complex problem into a simple set of numbers and ultimately a recommendation — whether you, in your particular situation, should remodel or move. The centerpiece of the site is the free Remodel or Move Calculator, which leads homeowners through the process by analyzing answers to such questions as:
- How well does your existing house lend itself to remodeling?
- How much will it cost to turn your home into a dream home?
- How much more would you spend to move to a better home, or how much profit would you make if you're a downsizing empty-nester?
- How long do you plan to live there?
- Do you like or dislike the location, the neighborhood, and the school system?
- How much of the remodeling investment will you be able to capture when you sell the house — will it or won't it be a profitable investment?
About Dan Fritschen:
Dan Fritschen is the author of Remodel or Move: Make the Right Decision (ABCD Publishing, 2004) and the founder of RemodelOrMove.com, a homeowner information and advocacy website. He has spent twenty years working with high-tech corporations on decision analysis, while remodeling a number of homes as a side. His book has been praised in Better Homes & Gardens and the New York Post, as well as other national and local publications.
To interview Fritschen or request a review copy, please contact Ashley Dicksa at (888) 825-4169 or ashley@remodelormove.com.
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