The general sentiment in this economic downturn is one of frugality and penny-pinching, but believe it or not, it may be a good time to invest in home improvement. The biggest benefits of remodeling are the same as they’ve always been: Remodeling increases the value of your home, and it makes your home more functional and beautiful. But if the cost of remodeling is of concern, wouldn’t it be better to wait until the economy picks up? Not necessarily and here’s why:
Materials and labor are more readily available. A slowdown in the construction industry makes it a good time to find the best quality materials and services you want and need at a lower price. It’s also more likely that you’ll be able to complete your project and enjoy the updates sooner. The construction companies that are still standing are probably ones that have more experience and are more professional. Just be sure to check that they’re licensed, bonded and insured.
Money is cheap. It’s true that banks are not lending as frivolously as they were a few years ago, but they’re eager to lend to the right candidate. If you have proof of income, good credit, and some equity in your home- you’re likely to get the money you need for your remodel at a low interest rate. Having the funds to properly complete your project is important, and a low interest rate means you’ll make a return on your investment sooner.
A chance to enjoy your remodel. Many homeowners wait to remodel until just right before they plan to sell, because their goal is to make the home more attractive to potential buyers. As a result, they never get to benefit from the new changes to their home for long. Now that people are staying in their homes longer- the improvements are not just for others. Your investment in the remodel is worth more because you’re not only increasing the value of your home; you’re also taking the time and enjoying it yourself.
Undertaking any remodeling project- big or small- requires a commitment of time, money, and energy. It’s important to know what you’re getting into and to have a professional contractor on your side to guide you. If you do decide that now is the time to embark in home improvement, be sure to research potential contractors. Request an interview and have a list of questions ready. Finding the right match is crucial for a smooth and enjoyable remodeling process! Advance Concept provides free estimates. Our project managers will meet with you to discuss your options. Located in Albuquerque, we also serve Rio Rancho, Bernalillo, Placitas, Los Lunas, and the East Moutains including Moriarty and Estancia.