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Powell Homes Blog

Rising Seattle Home Prices Don’t Have to Keep You from the Great Home You’ve Always Dreamed of

Posted by Brooks Powell on Sep 2, 2017 6:34:00 AM

Rising-Seattle-Home-Prices-Don’t-Have-to-Keep-You-from-the-Great-Home-You’ve-Always-Dreamed-of.jpgIf you live in the Seattle area, you’ve probably seen the headlines about our area’s hot housing market.  Recently, Builder Online featured an article (that originally ran in the Seattle Times) that highlighted the fact that Seattle’s 13.3 percent annual increase in home price during May of 2017 was the highest in the nation—and the most rapid increase seen in Seattle since 2006.

The article went on to say that even some wealthy foreign investors found themselves being forced out of the market. So what does that mean for people already living in the Seattle area? What if you already own a home in Seattle—but it no longer meets your needs? Does it mean that owning the house of your dreams is out of reach?

Not at all. It may, however, require you to think a little bit differently about how to achieve your goals.

Powell Homes has been building and remodeling homes in the Seattle area for 106 years. Over those years we’ve seen periods in which it sometimes made more sense for Seattle residents to remodel their homes instead of buying new ones. How do you know if remodeling your existing home is the right way to go? Here’s a helpful post that looks at some of the pros and cons of remodeling versus building a new home.

One of the ways you may need to adjust your thinking is by taking a closer look at what remodeling can really mean. Sometimes homeowners think about remodeling in terms of “freshening up” a home, or “giving their home a facelift.” While those are legitimate remodeling goals, those kinds of projects are more cosmetic in nature. What you may want to pursue is what’s known as a “whole home remodel.” This kind of project can be a whole reinvention or recreation of your existing home.

A design-build remodeler can look at your existing space and often find ways to better use the space you already have. For instance, you may feel that your smaller kitchen no longer meets your family’s needs. But how can you increase your kitchen space without expanding the footprint of your home? What if that’s not an option? A design-build remodeler can look at the space and often “find” space that’s unused. Here’s a post that takes a look at how that can work.

You might also be able to take advantage of other under-utilized spaces in your home. Remodeling your basement can add a lot of great livable space without actually adding on. Depending on your home, you might want to head in the exact opposite direction and tap into the unused space in your attic. Here are some ideas to consider for that option.

Of course, you’ll want to compare costs. Here’s a look at some average costs of whole home remodeling that help you with that part of the equation.

There’s no question that the Seattle housing market is hot right now and that’s pushed prices up. But building a new home in a new area isn’t your only option. You can still enjoy the benefits of a new home without having to move from a neighborhood you love.

If you’re considering remodeling your Seattle-area home and have some specific questions, Talk to Rob! Rob Van Houton is our Renovations Division Manager —and your premier source for all remodeling questions. He’ll bring his years of experience of the in's and out's of the remodeling side of the business to bear on your situation. A no-obligation, 10-minute phone call can help you learn about current design trends; help you identify a budget range for your project, and provide guidance for the best approach to meeting your needs—even if it's not with us. Click here to schedule a chat with Rob today!

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Topics: building a home, Rising Seattle Home Prices, Greater Seattle Remodeling