Homeowners delay buying, choose remodeling

DENVER - Jana and Jeff Sall take their time, pouring over swatches of carpet and tile. They want to make sure they pick the right type of flooring for their home. It's a home that they thought they'd be out of by now.

"We were thinking about building a home a few years ago. And last year, our dream kind of fell by the wayside because of the economy," Jana said.

Instead of building their dream home, the Salls decided to remodel the one they've lived in for years.

"Floors, kitchen counter tops and some minor remodeling in the bathroom," Jana said.

It's an option home remodelers say more homeowners are choosing, as they continue to be wary about the housing market.

That's what brought many homeowners out to the Denver Home Remodeling Show, at the Denver Merchandise Mart, on Sunday afternoon.

For Gwen and Jeff Stevens, the thought of buying a new home and trying to sell the one they've lived in for eight years is intimidating.

"Selling the current home is a concern right now. There's a lot of competition in the neighborhood," said Gwen.

The couple was planning to do about $2,000 worth of kitchen remodeling, instead.

"Right now, we want to be happy in our current home, so we're looking to do these updates now," she said.

Marypatricia Belongea, owner of Platte River Kitchens, has seen a lot of couples like the Stevens.

"There's plenty of business going on," she said. "A lot of people are remodeling."

However, she adds that budgets have decreased and homeowners are being very careful with their money.

"One lady is going to do a bathroom as soon as she knows what the stock market is going to do," Belongea said.

Real estate agents like Bill Fung also have an interest in the home remodeling market. His company, Keller Williams Realty, had a booth set up at the show.

"This is a perfect place for a real estate company," he said. "We have a lot of people in today's market buying fix-and-flips and foreclosures. And where else will they come, but to a remodel show, to find out how to fix it," Fung said.

His hope is that today's remodeling homeowner could become tomorrow's home seller.

"People who have decided they don't want to sell yet, but they want to remodel. And two or three years down the road (they may be) looking to sell," he said. "This offers us an opportunity to develop the relationship."

Instead of staying put, like other homeowners, Randy Lapp recently built a new home. But the economy forced him to make shortcuts, too.

"We didn't throw a lot into it. We've tried to hold back on nice countertops. We went with the standard stuff," he said, while browsing a granite countertop display at the show. "With the depressed economy, we're seeing if people want to wheel and deal."