Local News
More people remodeling than building new homes
New-home permits are down in Wake County – 39 percent, compared to a year ago. Instead of buying new, owners are opting to remodel.
Posted — UpdatedRALEIGH, N.C. — With a slowing economy and uncertain housing market, the Homebuilders Association of Raleigh-Wake County says more people are remodeling their homes than building new ones.
New-home building permits are down 39 percent from the same time a year ago, the industry group says.
Meanwhile, permits to remodel a home or add on to one have remained increased. There were 15 percent more add-on and remodel permits issued in April than there were in January.
Eddie Casanave, who owns Distinctive Remodeling in Raleigh, says more of his clients are going that route – many getting more square footage for less than what they would be paying for a new home.
"Kitchens and baths are still the most popular remodels, and they return the most value to the home as well," Casanave said.
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