Kitchens, baths and exterior projects add the most value to your house

Boom times

Despite a pandemic that has lasted for more than two years, the home remodeling industry has remained strong.

Even with labor and supply-chain shortages,  business is booming as more homeowners invest in properties where they plan to stay long-term or shop in a seller’s market, local remodeling experts say.

In 2021, the home improvement market reached $281 billion, according to Improving America’s Housing Report by the Joint Center for Housing Studies of Harvard University. That is expected to rise this year.

“The overall trend we’re seeing is that people are willing to invest more in their current home than in the past,” said Jeff Smith, director of sales at M&M Home Remodeling Services in Crete. Rather than inexpensive, quick fixes, Smith says, clients are choosing quality products and are willing to spend more to have renovations done right.

“With the country being short 5 million to 7 million homes, depending on what you read, and the Federal Reserve expected to raise interest rates multiple times in the near future, home prices have skyrocketed,” he said. “Because of this, many homeowners are opting to stay put and invest in their current home.”

That translates to a busy schedule for John Cancialosi, owner of Tinley Park Kitchen & Bath Shoppe.

“I haven’t experienced any slow-downs in my business,” he said. “We’re scheduled out on labor until October, and I have five crews that work in the field for me.”'