Interest Rates Are High, But A Home Renovation On Watkinsville / Oconee County Home May Still Be The Right Choice
By now we’re probably all aware of how high interest rates are these days on mortgages and Home Equity Lines of Credit (HELOCs). Nevertheless, renovating your home in Oconee County, GA might still be a smart move for several reasons. For starters, cash is king. If you have the funds, you don’t need to borrow. Or you may be able to borrow for less than you can earn on the market. (Full disclosure, we’re a home renovation contractor in Oconee, not financial advisers! So of course always check with your financial planners before making big decisions.)
Watkinsville / Oconee County Continues to Grow
Secondly, the county has experienced average positive growth since 2010, with a 2.06% growth in population in 2023, and has increased in population fully 35.63% since 2010 according to WorldPopulationReview.com. This suggests that the community is thriving, and property may continue to increase since housing inventory remains low which can prop up pricing.
Overall, Oconee County is currently considered a neutral housing market based on data collected by RocketHomes, with homes selling slightly above last year and staying on the market for an average amount of time. This means home renovations could help homeowners secure a competitive edge in the market should they decide to sell.
Data Source: WorldPopulationReview.com
A Home Remodel Can Help You Get More Than Asking Price
Furthermore, the slight increase in home prices indicates a steady appreciation in property values. Renovating now could lead to significant returns in the future. In our experience, the first things buyers look for are luxury, modern kitchens and updated master bathrooms. Given stable demand and an increasing population, the reduction in housing supply, a renovated home could sell quickly and potentially above the asking price.
Ultimately, Living In Your Dream Home Is About More Than Economics
Granted, this article tends to look at the economic benefits of remodeling homes in Oconee County, GA. Ultimately, the decision to remodel the family home is about much more than dollars and cents. It’s about spending time with the people you love in an environment you cherish. The great news is that in Oconne, home remodeling can be both a strategic economic decision AND something you do to live comfortable in the home of your dreams.
Fortunately, building and remodeling dream homes is what we do at Cecil Jennings Construction. If you’re considering a full whole-home gut job, a kitchen and bath remodel, an addition, or something even more creative- SEND US A MESSAGE and let’s schedule a free consult!