An aging population that wants to remain in familiar surroundings is helping to drive growth in the remodeling industry.
“The emerging trend is aging in place,” said Doug Walter of Denver-based Doug Walter Architects, which specializes in remodeling. “Since such an overwhelming majority of seniors want to stay at home as long as possible, our challenge is to make it safer for them.”
Some changes are simple and inexpensive, such as replacing knob door handles with levers. Others, such as installing elevators, are more involved and costly.
“You have to keep in mind universal design and things like using 3-foot-wide doors instead of 30-inch doors,” Walter said.
Adding lights also is key, especially around stairs to prevent falls.
“People really want their homes lighter and brighter and more open,” Walter said. “They’re tired of dark rooms with small windows and no views.”
Bette Smaldone, 80, had lived in the Harvey Park neighborhood for 50 years, the last seven with her daughter Nicki, 53.
When a nearby house with potential came on the market, the Smaldones jumped at the chance to buy and renovate it.
“We can move someplace within Mom’s community,” Nicki Smaldone said. “She has lots of friends there and goes to church there.”
They bought a 1,500-square-foot home and undertook a remodeling project to make it more livable for Bette, who has been in a wheelchair since she was 19. They left just three walls standing, pushing out the back to enlarge the house to 3,500 square feet.
They moved the laundry room to the second floor and installed a new driveway with radiant heat that will melt snow and an elevator to make the exercise room in the basement more accessible.
“She’s not happy about that at all,” Nicki Smaldone said with a laugh. “She’s never had to do her own laundry because the laundry room has always been downstairs.”
Nationwide, annual remodeling spending surpassed $200 billion for the first time in 2005 and is set to lead the residential-construction industry in growth over the next decade.
The National Association of Home Builders Remodelors Council forecasts the largest increase in spending will come this year, with a record $238 billion.
Improving energy efficiency also drives the remodeling craze. Dave Mathews, owner of Denver-based Churchill Construction, said he often is asked to do improvements based on Xcel Energy audits. Much of that work includes caulking, and replacing windows and furnaces.
Still, many people remodel simply for cosmetic reasons.
“People would rather improve than move,” Mathews said. “They want to stay in the older, established neighborhood with established landscaping, but they often will feel the need to update.”
In many cases, it’s possible to get a custom-home feel at a fraction of the cost. For example, custom homes typically feature slab granite countertops at a cost of about $90 a square foot. More modest granite tiles cost $20 to $25 a square foot and look about 90 percent as good, Walter said.
“You’re borrowing a luxury look for a budget price,” he said. “It’s very cost-effective.”
Staff writer Margaret Jackson can be reached at 303-820-1473 or mjackson@denverpost.com.
How to maximize return on your remodeling investment
Keep up with the Joneses. Look at other homes in the neighborhood. A new deck may not be a sound investment if yours is the first on the block. On the other hand, it would be wise to add a deck if everyone else has one.
Spend wisely. Kitchens and bathrooms are the best places to spend your remodeling dollars, but don’t neglect the rest of the house. Make sure the entire house is updated to an acceptable level first.
A topical solution. One of the cheapest and easiest ways to add value is through a fresh coat of paint.
Match it up. Consult a design-build firm or architect before taking on a major project so the look and feel blends with the rest of the house.
Nice, but not too nice. You may want the best house on the block, but the return diminishes if it’s the most expensive in the neighborhood. Avoid too much customization; otherwise, potential buyers won’t be able to envision the home suiting their needs. A bedroom to you could be an office or workout room to someone else.
Curb appeal. Be certain siding, paint, landscaping and other outside areas are acceptable before considering other projects.
Source: Home Builders Association of Metro Denver
