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Remodeling during a slow housing market gives you better value for your dollar.
-Lori Falk
By Lori Falk
Here’s why now is a great opportunity to remodel or build, despite the economy.
INVESTMENT
As we scramble to find investments that work in this economy, many are finding this to be the time to invest in your home. Remodeling, especially kitchens and baths, have very high returns on investment. Not only do you get to enjoy your newly designed space and all its benefits, by updating and upgrading your property you also increase its value and your net worth.
VALUE
When business is hot, finding professional and qualified businesses to work with is more difficult. There also tend to be longer timelines and increased pricing according to workload as a result. Because in today’s economy, however, people are being cautious, remodeling and building professionals need more work. Businesses are also hungry to keep their people working so they price projects more competitively.
TIMELINE
With people concentrating on fewer projects, they can devote more time to you, meaning projects move more quickly and efficiently. With greater availability of professionals to choose from, there is usually a smoother process with less downtime and timely completions.
QUALITY
When given the proper amount of time and sequence of scheduling, the professionals can deliver higher quality with less possibility of damage to work already completed. I have experienced more problems or lack of quality because people are working within too short a timeline or are trying to work on several projects simultaneously. This is especially so for artisans and craftsman because they need to get to the next project. Today’s lower demand means more time and attention for your project.
PRODUCT
Many manufacturers have held prices low, but as soon as the economy picks up prices will rise. With pricing being held the last few years, many manufacturers have absorbed cost increases to keep products moving and inventory low. Lower pricing means a higher return on your investment.
Lori Falk, ASID, CID, combines her love for travel, food, and wellness with over 25 years in design, personalizing