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With the housing market in such disarray, many people, who otherwise would have been looking to move, are instead taking on remodeling and or renovation jobs within their current home.

The most important factor is it increases the value of the home. When the recession ends and the market rights itself, homeowners can expect to see a healthy return, if not a refund of their investment.

"The actual clients are more budget conscious at this point, but we are just as busy as we have been any other year. In regards to sprucing something up as opposed to a full rip-out, there is a lot of that coming in. Replacing a counter top as opposed to doing cabinets, tops and floors,” said Jessica Soto, interior designer.

However, Soto says there are some key aspects homeowners need to keep in mind before making renovations.

"In the kitchen, what kind of mechanisms, what kind of function? How much storage do you have now? How much would you like to have? What do you like about your existing kitchen or bathroom? What do you dislike about it? The average kitchen runs anywhere from 10 percent to 15 percent of your house's value," said Soto.

Homeowners that have some liquid funds, should consider improving the status of their home. Kitchens and bathrooms are some of the major sellers in homes.