Regardless of your personal feelings about the current trend of infill development and the redevelopment of neighborhoods across the socio-economic strata the trend will continue. Every homeowner benefits from the trend. That said, it is up to the individual homeowner to either exploit the trend as much as possible or simply be carried along by way of location.
There are certain improvements, that if made prudently, will actually return more than the cost of the improvement. A simple example is the replacement of the Entry Door on an existing home; In the South Atlantic region replacing an existing door with a new steel door with a cost of approximately $1,200 returns more than 112% on the investment, whereas that same homeowner could spend approximately $2,800 on a new fiberglass door and only see a return of 70% on the investment. This is one of the many reasons why homeowners should work with a licensed contractor that is actively in the marketplace and building in their area. The builder has likely already performed the cost to benefit analysis.
The homeowner (you… yeah you reading this article!) should consider the fact that active licensed builders benefit from volume savings as a result of purchasing the quantities of various building materials that they do. This is how the larger contractors are able to build for less than some of the smaller contractors. These savings can be passed on to the homeowner if the purchases are made through the contractor.
If construction is not your day job then please consult an active and licensed contractor to discuss the costs and process of your desired improvements. Once you have established a good rapport with your contractor then please take our advice and leave it in the hands of your contractor.
How much are you going to benefit from the trend and what is happening in your neighborhood?