PILLARS OF EXCELLENCE

Building Castle Construction will be the growing Contractor of residential choice for consumer buildings homes known as ‘‘Castles’’. Energy Savings will be our primary push for our northly climate. Building Castle buildings show cost–effective and sustainable building methods, we focus on conservation of fossil fuels, water and other natural resources, reducing solid waste, and improving indoor heating retention. 

A Team of Professionals

This driver measures private spending on home improvements, upgrades and repairs. It includes dwellings of all types, including singles, doubles, row houses and apartments. 

Outlook

The outlook for the residential renovation expenditures is positive and normalizing of the housing market is expected to preclude faster growth. Expenditures are forecast to grow 2.4% per year on average over the next five years.

Expenditures on home renovations include additions, alterations, upgrades and equipment installations made to homes in order to increase their value. One of the more significant factors impacting residential renovation expenditures has been government investment in the housing market. Recently, spending levels for residential renovation projects have grown steadily, at slower than other rates. As a result of the economic downturn, homeownership rates and home prices dramatically declined as the unemployment level rose. In 2009, the national unemployment rate increased from 6.1% to 8.3% of the population. In effect, numerous individuals cut back home renovation investments as homeowners became more cautious about their spending; many homeowners lost their jobs and went underwater on their existing mortgages, thus saturating the housing market with short sales and foreclosures.