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Number of home improvement projects expected to rise this year

Home Improvement - Electrical Outlet work

With warm spring weather finally here, many homeowners are turning their attention toward making various improvements to their spaces. This is the time of year when most people look to tackle the projects that they have been putting off all winter, a chance to give the house a feeling of renewal that we all feel each time the snow melts away. According to experts, 2014 is shaping up to be a solid year for renovation and remodeling growth.

The National Association of Home Builders has projected that homeowners will spend nearly $123 billion on exterior and interior tasks this year, which is a 3.1 percent spike from the amount spent in 2013. Experts believe that part of the reason for so much money being invested in these projects is that residents are becoming more enthusiastic and aggressive with the changes that they are making to their living arrangements.

"In the past few years we were doing face-lifts," Pete Albanese, owner of Creative Kitchen and Bath of Wayne, told local New Jersey reporters. "It's starting to filter back to doing full remodels again... now I'm getting calls about a full kitchen remodel and a lot of bathrooms."

When it comes to those remodels that are going to do well when selling the house, having an upgraded bathroom is one of the ways to make back most of your initial investment. According to Remodeling Magazine's annual Cost vs. Value report, a renovated bathroom will recoup 73 percent of the total amount of money that is spent on it. One of the biggest gainers is the attic bedroom, which will regain 84 percent of the investment, up 16 percent from last year.

If you are thinking about renovating your home this year, contact a Alexandria, Virginia contractor from John C. Flood.