Realty Q&A: Luxury remodeling is making a comeback

By MarketWatch

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Kitchen remodeling is making a comeback, taking over as the No. 1 remodeling project for the first time in four years, according to a recent survey. And that signals a return to more luxury remodeling projects.

Not only do kitchens cost more than any other type of room to build or remodel, they also typically take the most time to complete and can totally disrupt a familys sense of comfort and routines, said Dan Fritschen, founder of RemodelOrMove.com, in a news release. The websites survey about remodeling attitudes reflect the opinions of 5,000 homeowners.

More proof homeowners are thinking luxury: An increasing number of respondents described the materials they intend to use in their remodel as expensive, according to the report. The average remodeling job cost was estimated to be $100,000.

Read more Real Estate news in this weeks pages, including how to help move your refinance application through the process and how banks are increasing perks to get wealthy customers to take out large mortgages.

If you do plan on following through with a kitchen remodel, Fritschen recommends that you do some homework first and make sure youre really up for the expense.

Im not trying to discourage you from remodeling your kitchen, because the results can be more than worth the inconvenience, Fritschen said. And the inconvenience can definitely be minimized through good planning. Im just suggesting that you carefully consider the project before pulling the triggerthen consider it again for good measure.

Amy Hoak , Real Estate writer

With mortgage rates at record lows and refi application volume at the highest in years, loan officers phones are ringing off the hook. But there are ways to push your application through, despite all the competition. How to keep a mortgage refi on track in busy times.

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Realty Q&A: Luxury remodeling is making a comeback