Homeowners See Remodeling as Sound Investment
Enhancing the value of a home through remodeling or upgrading is the investment choice of many homeowners today, given the fluctuations in the financial markets.
“If you own a home in a desirable neighborhood, whether lowor high-end, and have some extra cash, it’s hard to go wrong by putting it into a room addition or a kitchen upgrade,” said Homeworks Construction president Marshall Hickox, who also serves as president of the Hawaii Remodelers Council.
Homeworks projects, ranging from multi-generational homes in Kaimuki and Kalihi to luxury homes in upscale neighborhoods, have earned the company the Building Industry Association’s “Remodeler of the Year” award. This year, Homeworks was ranked as one of the nation’s “Top 500” residential remodelers by Qualified Remodeler magazine.
“We have always had a strong presence in multi-generational remodeling in Oahu’s older neighborhoods,” Hickox said. “But we are also seeing activity in single family home upgrading in neighborhoods such as Kahala, Manoa, Hawaii Loa Ridge and Portlock. Vintage home remodeling has been a consistent source of Homeworks business.”
Hickox noted that homeowners and buyers are willing to make significant investments in remodeling and additions in the higher-end neighborhoods because properties there have consistently appreciated in value over time. “Many homeowners will wait until they are ready to sell a property to upgrade it, but why not do it now and enjoy the improvements,” he added. “Home equity lines of credit can be an untapped source of financing. Other clients we are working with have recently sold property and are reinvesting in a home they are modernizing or expanding or both.”
Upgrades generally include major kitchen and bath remodeling and opening up the home “to bring the outdoors in,” which generally results in better natural illumination and ventilation. “Many of the structural improvements can save money in the long run because they increase energy efficiency. For example, the addition of insulation and ‘cool roofing’ can lessen the need for air conditioning. Now most major remodeling jobs will involve the addition of a solar water heating system and more recently photovoltaic panels.
New appliances will necessarily be Energy Star-rated and make a significant difference in the electric bills.
“These types of improvements very definitely enhance the saleability of a home, whether it enjoys a choice location with ocean frontage and views or offers the charm of a vintage, ‘old Hawaii’ style structure. The older homes can often be hard to sell unim-proved because buyers are not sure of the soundness of the structure. However, if they have been inspected and remodeled by a reputable builder, the Realtor will be able to give buyers some assurance that they will not have to worry about a leaking roof or appliances that will break down or floors that will sag. In some cases, Realtors have listed homes we are remodeling while construction is still in progress.”
Homeworks Construction has won numerous awards in Building Industry Association and National Kitchen and Bath Association design competitions.
The Homeworks Build New Or ReDo radio show is broadcast every Saturday morning from 9 to 10 a.m. on KHVH Radio AM830. Hosted by Homeworks CEO Jim Byxbee, president of the Building Industry Association of Hawaii, the show covers all aspects of building and remodeling and accepts calls from listeners. Free consultations are offered at the Homeworks showroom and conference room in the Homeworks Building at 2111 S. Beretania St.
For an appointment or for the date of the next Build New Or ReDo seminar, call 955-2777. Homeworks projects can be reviewed at www.homeworkshawaii.com.
ADDRESS: 2111 S. BERETANIA ST.
CONTACT: 955-2777
WEBSITE: www.homeworkshawaii.com
