Home Improvement Articles

Discover what 4 Home Improvement Categories will be most Popular in 2023
Given the current economic situation, what part of their homes will your neighbors most likely investing money on, in 2023? Can you guess what they'll be? Do you agree with our assessment?
Sunday, January 1, 2023
Predictions regarding market forces in 2023

There is still a lot of fear in the marketplace. Consumer confidence has dropped far off its previous highs. The S&P 500 was down in 2022. Where homeowners in Unionville, PA may have previously taken a tax advantaged, low interest rate loan against their portfolio to pay for a $140,000-$170,000 kitchen and $400,000 additions, we aren't expecting to see much of that this year.
The federal reserve has indicated that they will continue to increase interest rates. This means a couple of things for financing home improvements.  If you own a home in West Grove, PA or Lincoln University, a HELOC will be more expensive, as will floating projects in Kennett Square on a credit card, save for those with low interest introductory rates. This is going to tamp down activity on the $60,000 to $80,000 kitchen market and the $38,000 to $75,000 modest bathrooms for everyone from Landenberg to Chadds Ford.

But the alternative of "house-shopping" is also going to take a hit, regardless of whether you are trying to get into, or out of, the Avon Grove School District.  The housing market will continue to soften, and home builders will cautiously slow their growth in the new year, knowing that families who are looking to upgrade are unlikely to trade in a 3% mortgage while staring down the barrel of a 7% mortgage on a new house. They may start dumping inventory in Q1 or Q2 like a fire sale, depending how quickly the new home sales numbers shrink.

This means that Homeowners will be staying put in their Avondale or Cochranville, or Parkesburg or Downingtown Home... but what projects are going to be the most likely areas your neighbors will be investing money on, in 2023 when it comes to maintaining and improving their Chester County home?


Based on recent phone calls,
... we see 4 trends forming

(1) Additions and added living space:

 This could be a deck, a screened-in covered porch, or an extra bonus room or office. Bedrooms are less likely to be included in additions this year as they tend to get hung up at the septic evaluation and permitting which can eat up a large portion of the budget. Here are some photos of 2 screened in decks Cope Construction completed last year in Lincoln University and West Grove PA, which is a very cost effective way to provide your family additional living space, useful for entertaining family and friends, without blowing the budget.

(2) Finished Basements & Open Concepts:

The cost of finishing an existing space, or knocking down some walls to make the main floor more conducive to busy family life can be a very budget friendly way to LOVE your home again. "If it weren't for that one wall!" "If I could just see the kids in the next room." "If the basement was nice enough for them to burn off some energy." "If I just had a quiet place to work." What IF ONLY can we solve for you?  Here's a link to an entertaining 11 episode mini-series on what goes into a properly completed finished basement project from a project CopeBUILT completed in West Grove, PA. 

(3) Roof Replacement:

We are receiving a record breaking number of inbound calls around Kennett Square asking how soon we can replace leaking roofs as damage is already occurring, including one where water and drywall were falling on their child's bed, staining everything. If you have an old 3-tab shingle roof on your home, or if its covered in embarrassing algae and mold, 2023 is a great year to Protect your Investment in your largest & most expensive asset, by putting a new roof on it. Modern roofing practices protect and preserve your home, and we can take this opportunity to evaluate your attic ventilation system, and attic insulation to look for further ways to make your home more efficient. Roofing tends to run in the $18,000 to $45,000 range depending on size, shape & access, making it a lower cost option for improving your home in 2023 without breaking the bank. Our team goes the extra mile to make sure your yard is completely clean when we're finished so there's no worries about Kids, Pets, or Car Tires getting hurt on the nails your roofer left behind. This video playlist will share with you everything you need to know, to make the right decisions about your roof. Lets talk before you have to add costly drywall repairs and painting on top of your the investment in your new roof.

(4) Exterior Makeovers:

Those who have a little more to invest in protecting their home and making it more energy efficient, and who are happy with the interior, are calling about an exterior makeover, like this family from New London, PA.  Whether we're removing old stucco or simple vinyl siding, our expert craftsmen go the extra mile to protect your home as we install new Vinyl siding or Cement Board along with new energy efficient windows and doors, finished off with new gutters, and possibly a stone facade foundation covering.  These projects can easily run $90,000 to $145,000 depending on the size of your home, number of windows, and how energy efficient you want to be.  Our Cope Construction and Renovation YouTube channel does an outstanding job of educating homeowners on everything they need to know to ensure a successful exterior renovation.

(5) Bonus Tip:

As the housing market is slowing, and interest rates are rising, perspective buyers are once again looking at homes that need a little TLC and sweat equity, but young home buyers today lack the experience to create the HGTV transformations they've seen on television. We frequently get calls from realtors asking us to meet with their clients to discuss the costs of projects for homes they haven't even purchased yet. This is a dramatic change from 2020 and 2021 when buyers were looking for move-in-ready homes, to start their new families.  If you are a realtor, we're also ready for your call weekdays, 9:30 AM to 2 PM at 484-748-7708, ext 2. 


2023 is going to be interesting, no matter how you slice it!

With the economy shrinking, and money getting tight for many families across our south eastern Pennsylvania, you can't afford to pay hard earned money to do a job twice.  Watch out for fly-by-night Chuck-in-a-truck, Stan-in-a-van, "looks good from my house" charlatans, and the con-artist with a toolbelt and a cardboard sign at Home Depot looking for a 50% cash deposit up front.  Instead, hire a reputable, local, family owned, registered and insured home improvement contractor who you can trust to the job right, the first time.   High Cope Construction and Renovation!   When we're finished with it, you'll be proud to say, "it's not just done... it was #CopeBUILT!"  Here are the Four Questions you should alway ask before hiring any contractor.

What do you think of our predictions.

Do agree or disagree with them? Are there other projects that you think will make the list of popular home improvements in 2023?