Last year’s shelter-in-place orders proved to be an unintended boon for the residential construction market, driving a 40% jump in kitchen and bath remodels in the summer of 2020. A less-anticipated trend — home extensions and additions — jumped 52% last summer, leaving many residential contractors rushing to catch up with client demand.
Looking beyond the pandemic, accessory structures and dwellings promise broad-reaching opportunity for affordable housing supply, extended family accommodations and rental income potential. Here are four things you should know to take advantage of this emerging trend.