How do you know when it is the right time to revamp your home with some renovations? If you have a limitless budget and an open deadline, you could technically do it anytime. But, if you are like most homeowners, you have to pick your time wisely. Whether you want to do a complete overhaul of your home, want to expand your living space, or add some finishing touches and small upgrades, timing is critical.
As home construction specialists with over 25 years of experience, we’ve learned this firsthand at Ziegler Remodeling. If you are considering a home remodel, but think you might wait--don’t. Now is an opportune time for home renovation projects. Here are five of the top reasons why.
1. IT’S EASIER THAN EVER TO HIRE A CONTRACTOR AND YOU CAN EXPECT A FASTER TURNAROUND.
Thanks to advances in technology, it is easier than ever to find and connect with local contractors. A few years ago, it could be as much as a six month wait time to get a call back from a top company. Now, you might get a call and consultation in a few days and be ready to start up your project in a matter of weeks or less, depending on the scope and other details.
Of course, not all the companies you find on the Internet are going to be great. Luckily, it is easier to research and gain insight into the level of service and quality of work with review sites, social media and testimonials. You get an even better idea of what to expect from a construction or remodeling company through a consultation. At Ziegler Remodeling, we like to meet with our clients and offer free in-home consultations for select projects like kitchen remodels.
2. IT IS CHEAPER AND EASIER TO MAKE YOUR HOUSE ENERGY EFFICIENT.
Green, energy efficient technologies for the home have come a long way in the last few years. Not only are their capabilities more impressive, but they are more affordable than ever. Before, making your home energy efficient seemed like a lifestyle choice for a narrow segment of the population.
Now, everybody is doing it, and not just because it is good for the planet and your health. It’s also good for your wallet. In the long-term, energy-saving home technologies will save you money on heating and cooling and electricity costs. Heating and cooling are the largest utility expense in homes. It makes up almost half (48%) of the energy consumption in the average home in the U.S., so investing in energy-saving renovations can actually save you money. Plus, if you decide to put your home on the market later on, all those energy-efficient features can increase the value and could be attractive selling points for potential buyers.
If you are considering making your home more green, there are a wide-range of options out there. The most basic are upgrading the insulation and windows, but there are a whole slew of possibilities.
3. THE TOP CONTRACTORS ARE STILL AROUND.
In the PwC annual report on real estate trends, the third biggest trend is the scarcity of skilled construction labor. The dip in skilled workers happened after the market took a dive during the Global Financial Crisis around 2008, causing some to leave the industry for other work. The number of skilled workers has risen, but not to pre-recession levels. Although, in some cities, this could mean that the cost of constructing a home could be higher than previous years, there is a silver lining.
The best of the best and most in-demand construction companies are the ones that stuck around and made it through the tough economic times. You could say that time has “thinned out the herd”, and the current industry leaders are well-trained, highly-skilled professionals. Again, this doesn’t mean that there aren’t a few bad apples out there. This is why it is important to know the right questions to ask when meeting with a potential contractor.
4. IT’S A PRIME TIME FOR BUYING MATERIALS.
The good news is that although labor may be on an uptick, the cost of many materials has gone down. Last year, some of the main building materials, including lumber and concrete decreased notably in price. Since then, the prices have started to increase again, but are still more affordable than they have been in the past. Other materials for kitchen and bathroom remodels, such as sinks, plumbing and cabinetry can also be found at a value price.
Not only are most building materials less expensive right now, they will likely increase in 2022, as they generally do every year. Take advantage of the low-cost materials now, because they will cost more in the future. Plus, starting a project now could mean getting the materials more quickly than usual.
5. THE UPDATES YOU MAKE NOW WILL HAVE A LONGER-LASTING VALUE.
Housing has improved slightly since recession times, but it is not what it used to be. If you’ve taken a look at any real estate reports and forecasts, now is not a great time to be selling your home. Unless you live in a real estate hotspot like San Francisco, then you are better off waiting a few years or until the market is right.
In the meantime, making upgrades to your home will not only increase your comfort, but it can increase the overall value if you decide to sell. Doing so now, instead of waiting just before you put your house on the market, can save you thousands of dollars and the stress of meeting construction deadlines to have the house move-in ready for new homeowners.
One of the most common reasons why people put off their home remodeling projects is because they are worried about the costs. They think putting it off a few years could help with the affordability. In reality, the more you wait, often the more money it will take to complete a renovation. The costs of building materials rise and the availability of skilled construction workers slims. If you are considering a home renovation, don’t wait. Reach out to Ziegler Remodeling, and we will work with you to meet your home needs and vision in a deadline and budget that works for you.
