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Who doesn’t love a good Before and After?

How much will my project cost? And how long will it take to complete?

We hear all the time “What is happening with home value in Austin?”  Perhaps the more important question is, “What is the value of home ?”

Many of the homeowners we meet with are looking for insights and ideas to make better use of their outdoor space, from a simple deck to indoor/outdoor areas like screened in porches and functioning outdoor kitchens with sinks, cooktops, wet bars and pizza ovens, so many options to enjoy our beautiful Central Texas weather while adding value to your home!

In the realm of home improvement, few undertakings hold the transformative power of a well-executed kitchen renovation. With a multitude of options for both functional enhancements and aesthetic upgrades, it's a renovation endeavor that extends far beyond the confines of the space itself, a space that is frequently the very heart of your home. Below is an exploration of the multifaceted ways in which kitchen remodeling can revitalize and modernize your entire home.

When considering which spaces to remodel in the home, bathrooms nearly always top the list of both homeowner and homebuyer priorities. It’s often the first room one sees in the morning, and the last stop before bedtime, and the guest bath or powder room will be visited by many visitors over its lifetime. And there are so many fun options for what can be done in a bathroom! So why not remodel a bathroom space to match your personality and style? There are many ways to modernize and personalize a bathroom ranging from relatively easy and affordable cosmetic upgrades to complete renovations that can include moving walls to expand the space or adding windows to bring in light, whatever is needed to make the space exactly as wanted by the homeowner. After years of people relegating the primary bath to the bottom of the renovation list (usually because no one except the primary homeowners spend time there), we are happy to be finding more homeowners prioritizing their primary bath as a treat for themselves to have more enjoyment in their own home, taking it from being a place for daily business, to a place for relaxation and peace. Dimmable lighting, heated floors, beautiful special tiles, light fixtures and colors; getting rid of the tub to create a shower for two, or adding a beautiful freestanding tub with a handy bathtub tray with a place for your glass of wine, a book, or a phone (but no working allowed in the tub!) - so many ways to turn the primary bath into a respite from a busy demanding life. With so many options, and so many requirements, we recommend not skipping the design phase for any major bathroom remodel. Design services are essential in exploring both aesthetics and what can be done in a bathroom within code limitations. Bathrooms have a smaller footprint, require a full range of trades to be successful, and there are also code compliance requirements that need to be considered when developing the new floor plan. Design services are also essential for evaluating universal design considerations to ensure that people can use the space regardless of their age or abilities. Also, the use of design services and 3D walkthroughs give a better sense of flow and function for this relatively small but highly functional space. Whether you are living in a studio condominium or a multi-level house, here are five trending renovation ideas to spruce up one of the most important rooms in your home. Convert An Outdated Tub into a Walk-In Shower Walk-in showers are in demand, both for their beauty and functionality. They are safer for people who have difficulty climbing in and out of a tub to take a shower, and many homeowners report that they just plain do not use the tub and would like that floor space for other things, like a larger shower or additional storage. Many clients are asking us to get rid of the old built-in tubs in the primary bath and opting for a larger walk-in shower, or retiling the outside of a built-in to give it a completely new and updated look. Fun tiles, modern fixtures, and options for glass doors can instantly make the entire bathroom look and feel amazing! All that said, for resale value it is always recommended to leave at least one tub in the home.

Today, Shaniko and I had the opportunity to attend the 2023 Central Texas Housing Summit , put on by the Austin Board of Realtors . This significant event brought together visionaries, industry experts, and community leaders, all driven by a shared mission to shape the future of housing in Central Texas and build a better tomorrow for our residents. We though there were a few highlights worth sharing with our TRS community! The Summit had many great speakers, experts in the field of national and local housing, economy, labor and employment markets, and the interplay between them, including Dr. Selma Hepp, Chief Economist with CoreLogic; Dr. Clare Lowry, ABoR Housing Economist; and Mark Sprague, State Director of Information Capital with Independence Title. ABoR also announced their new Rent vs. Buy report, just released today, more info and link below! And Austin Mayor Kirk Watson provided an update on what City government is doing to address affordability and streamline the development review process, something for which all of us working in construction in Austin are looking forward to! Key Questions Answered Summit presenters answered several questions we believe are on the minds of our TRS community. What will happen with interest rates? Still some debate on this one - we may see a slight decline coming in the fall, though other experts anticipate 2-3 years before we will see any reduction in interest rates. Something to bear in mind, while we all have loved the 2.5% interest rates we have enjoyed over the last couple years, in reality that low of an interest rate isn’t healthy for the overall economy. The current 6% interest rate is still manageable, especially given the concessions sellers and builders are still willing to provide and the long-term financial relevance of homeownership, something highlighted in the Rent vs Buy report linked below. Will home prices continue to decline? The fall in home prices we have seen over the last year is expected to level off, we have reached a plateau. While we may still see a slight decline in home prices, that will be offset by continued population growth as Austin remains one of the most popular cities for relocations. In addition, the last two years new home construction has significantly declined, leaving a supply shortage in place that will support future price increases. Is the Austin economy remaining strong? Very, very strong. We continue to see job growth, we continue to have an influx of population, Texas remains a desirable location, and Austin perhaps the most desirable location within Texas. What are Austin homeowners looking for in their new home? There is a national trend of people moving out of dense urban areas into less dense areas and smaller towns. Driven in part by affordability constraints in the city as well as personal preferences, people are looking to move out into surrounding areas where they can get more home and space for the money. Are construction costs declining since the end of COVID? Unfortunately no, labor costs have not gone down and there has not been a significant increase in mills to support lumber availability. From TRS experience, we can say that there absolutely has been some price reductions in certain types of materials (for example basic 2x4 studs), while on average most other materials remain at similar price points over the last year. This affects cost of remodeling as well as construction of custom homes and home additions. Rent vs. Buy Report There are many factors a prospective homebuyer has in mind when considering whether to purchase a home of their own instead of renting. How long they will be in the home, affordability, and whether they can find something that meets their aesthetic and style. That said, the American Dream of homeownership remains, and for good reason. ABoR was pleased to announce the release their 2023 Central Texas Rent vs. Buy Index during today's summit. Seeing as the producers of this report are far more intelligent than I, we better just provide an excerpt from the Executive Summary here and you can see more at the link below! "The buy vs. rent index developed in this report models the tradeoff between purchasing a home or renting and investing in stocks, comparable alternative to homeownership. Specifically, this index creates a “horse race” between owning or renting and investing in stocks by comparing the proceeds from the sale of a home to the proceeds from a stock portfolio. The index is generated for three types of homebuyers: first-time buyers, move-up buyers, and luxury buyers for two scenarios, the first of which models retrospective outcomes for buyers who purchased between 2007 and 2022 and sold between 2007 and 2023, while the second models the potential outcomes buyers who purchase in 2023 and sell between 2023 and 2037. In the Austin-Round Rock-Georgetown MSA, the results of the index indicate that, on average, homeownership would have been more financially favorable for all three types of buyers and for both scenarios. Under the first scenario, homeownership favored renting and investing nearly every 4 times out of 5 for first-time buyers, over 9 times out of 10 for move-up buyers, and nearly 10 times out of 10 for luxury buyers. Under the second scenario, homeownership favored renting and investing nearly every 3 times out of 4 for first-time buyers and in every instance for both move-up and luxury buyers." - 2023 Central Texas Rent vs. Buy Index You can find the full report here . Committed to Collaboration By working together, we firmly believe that working together we can create a thriving housing ecosystem that stands as a testament to innovation, affordability, and sustainability. The road ahead is filled with challenges, but we also see boundless opportunities to make a lasting difference in the lives of Central Texas residents. Stay Informed To stay informed about the latest updates and developments from TRS Build, we invite you to subscribe to our newsletter (button at top of page) and follow us on our social media channels. Together, we will continue building a better and brighter tomorrow. Contact Us to talk more about how we can help you optimize the beauty, value, and functionality of your home!

Here are a few tips homeowners can keep in mind to help foster a productive collaboration with your contractor and make any type of remodel a success.

Whenever thinking of adding onto the home, be sure to invest in design services that will enable you to envision both interior and exterior views, with files that can be transferred to a licensed engineer to provide the structural plans.