My February column for Builder & Developer magazine now online

For my February column in Builder & Developer magazine, I wanted to take a look at the growing trend of home builders taking on remodeling work. In fact, NAHB says that half of its members now consider remodeling work as an important part of their ongoing operations. From the article:

Assuming the country successfully negotiates through the current economic downturn, the NAHB estimates that the value of remodeling jobs could approach $400 billion by 2015, or closing in on the estimated $455 billion in new construction. By 2020, it’s quite possible that the remodeling industry could even eclipse the value of new homes built annually. If that comes to pass, then the most successful home builders would be diversified entities with two separate divisions: one which develops new communities, and one which improves those which already exist...

The NAHB says that for every $100,000 spent on residential remodeling, 1.30 jobs are created for additions and alterations and 1.25 jobs for maintenance and repairs. For public services, that same $100,000 provides nearly $28,500 in taxes and government revenue for additions and alterations and nearly $27,800 for maintenance and repairs, which in many states could make a dent in serious budget gaps...

Click here for entire article.