Money talks. Right now, the talk isn’t good news. It’s true–we’ve all been affected by the economic downturn in some form or another. There’s no escaping it, particularly in the construction field. The real estate bubble burst last year, lending rules have tightened, cash flow has slowed, and new construction has come to a virtual halt. These are all clearly evident in our current economy, and it seems you can’t turn your TV on for five minutes without hearing about it. TARP, TARP II, the Housing and Economic Recovery Act, the Recovery and Reinvestment Act and other such programs are either in the process of becoming federal law, or have already been passed and we’re eagerly awaiting results. In any case, most Americans are at least somewhat nervous about their homes and nest eggs.
However, all doomsaying aside, we at Remodel Connect believe that within every problem lies an opportunity for those who are willing to find it. To us, the current financial situation is nothing more than a great opportunity to buy while prices are low. There are two sides to every coin, and an economic struggle is no different. Though it is true that more homeowners have decided to hold onto their money and “see what happens” before making any big investments, the flip side is that there is an abundance of very good contractors available for both building and remodeling.
Making an investment into your home is always a good idea–especially during a lull in the real estate market. For example, in 2008 and 2009, more and more homeowners have found that they couldn’t sell their home like they had planned. What this has meant for a majority of those homeowners is that they’re “stuck” in their current home for several years (perhaps five or more), which means that they’ll either have to live with their home as it is, or they’ll have to remodel it. Remodeling a home in this case, has four major benefits:
- It revitalizes your current home, gives it a fresh new feeling, and can solve problems that were nuisances before (i.e. a kitchen that was too small)
- Several contractors have begun closing their doors or have moved to different industries due to financial hardship and a lack of work–which generally means that only the strongest contractors will survive. These are the ones you want working on your home.
- These strong and reputable contractors are extremely eager for work, so they’re cutting their prices in order to be as competitive as possible. This means that you can have several contractors striving for your business. This is good for you!
- For the first time ever, tax-credits are being issued for remodeling projects (and not just exclusively new homes.) Now, if a homeowner chooses to remodel his or her home, he or she would have the option of taking several tax incentives, including windows, doors, solar panels, water heaters, furnaces and more. (To learn a little more about these tax credits, click HERE.)
Now is an excellent time to remodel your home. Sign up today to receive a quote on your project! We’ll give your information to the general contractor in our ContractorBase™ that we feel would be the best match for your location and project type. This service is FREE to you and provides you with a reliable quote from a licensed contractor who can help turn the home you live in into the home you love.