In a housing market frozen by mortgage rates, more and more homeowners are looking for ways to renovate their homes, rather than moving. Metrowest General Contractor and Owner/Founder of Hemlock Contracting, Theodore Labonte shares why homeowners are focusing more on home remodeling in 2025:
Mortgage Rates Freeze Housing Market
Due to record-high property prices and exponential mortgage rates, more and more homeowners are holding their property for the long term. Due to the “lock-in-effect” of the mortgage rate freezing on many existing agreements, few homeowners are interested in trading a low interest rate for a much higher rate. This is prompting more homeowners to seek ways to improve their spaces, rather than hopping to the next neighborhood for a different house.
Remodeling is the New Relocating
Housing affordability continues to pose challenges for individuals and families across America. Homeowners looking for something new in their lives are gravitating towards remodeling projects, rather than relocating. Home remodeling projects that would have otherwise been left for another ‘someday’ are helping homeowners achieve a sense of new-ness in their houses — without moving at all.
Home Improvement is The Answer
Theodore Labonte has found that home improvement is the answer to achieving new-ness in a familiar space. In 2025, the real estate market is in an unfavorable state for buyers who already own property. Now is the time to work with what you’ve got and make the most of your home! A remodeling project can go a long way in making what’s old, new again. Labonte is proud to lead the development, design and installation of visually appealing sustainable decks that add beauty and function to build on outdoor living spaces.
Make Spring 2025 your season for creating that Summer Sanctuary, complete with a deck, porch, patio or other eco-conscious oasis.
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