Tight housing markets are giving way to sky-rocketing remodeling projects. Residential renovations are expected to exceed $380 billion by the middle of next year— up nearly 10% from 2021.
Many who originally wanted to find a new home have decided to stay put and renovate. Here’s why:
- Fewer homes to buy. Low housing inventory has become frustrating for those looking to purchase or relocate, and they are looking to fall in love with their home again.
- Rising prices. Housing prices aren’t the only thing increasing. Mortgage rates are at their highest level since 2009, recently hitting 5.5%, up more than two percentage points since the first of the year.
- More equity available. The upside of increased housing prices is higher equity available to many homeowners. Many are choosing to pull cash out of their home and spend it on a renovation.
There are a few challenges for today’s renovation projects; thanks to labor shortages and supply chain disruptions you are likely to experience long lead times and delays.
Another problem is storage. During renovations, especially those that last longer than anticipated, homeowners need affordable, convenient storage solutions. Personal items and furnishings need to be packed up to provide ample space for the work to be done, and to avoid construction dust and potential damage to belongings.
UNITS Moving and Portable Storage has seen an increase in homeowners who are renovating and looking for portable storage containers to keep right on their property, where it can stay for weeks or months depending on the length of the renovation project.
“Our customers appreciate the convenience of having their belongings safely and securely packed away right on site, in their driveway or backyard,” said Wade Malloch, UNITS Operations Manager. “This way, if the renovation goes a bit longer than anticipated, they have easy access to get to their things when they need them. Plus, when the renovation is complete, homeowners have the flexibility to move their belongings in at their pace, on their timeline.”
UNITS has a number of important packing tips for their customers to maximize space and minimize damage or breakage.
- Don’t overpack a box to the point where you can’t lift it.
- Use the same size boxes to equalize space.
- When packing a kitchen, pack horizontally instead of vertically to avoid breakage.
- Disassemble your furniture to avoid scratches and damage.
- Pack next-season items closer to the front for easier access.
Renovations are also a great opportunity to clean out junk drawers and discard items you no longer need.
ABOUT UNITS® Moving and Portable Storage
Established in 2004, UNITS® Moving and Portable Storage was founded by Michael McAlhany during the emergence of the moving and portable storage industry. The company's mission was to provide personal customer service and supply the most innovative and highest quality equipment. Nationwide UNITS Moving and Portable Storage are locally owned and operated and familiar with the communities they serve. UNITS Moving and Portable Storage offers high-quality constructed containers featuring barn-style doors and all-steel construction. The UNITS Moving and Portable Storage container is clean, weather-resistant, spacious, and available in 12-ft and 16-ft. lengths. The UNITS Moving and Portable Storage ROBO Delivery System is the most technologically advanced in the industry, virtually eliminating any shift in contents when lifting containers on and off transport vehicles and placing them in tight areas where competitors cannot. The container may be placed in a UNITS Moving and Portable Storage service center or at the customer’s desired location, always at ground level for easy access. The national network of UNITS Moving and Portable Storage and Service Centers currently services over 3,000 cities in over 30 states throughout North America and continues to grow.