Considering the Economic Outcome
For those that have the means, now is the perfect time to do some bath remodeling. Everyone is talking about the doom and gloom economy but just like when the stock market crashed in the early part of the nineteenth century, there were those that saw an opportunity and there were those that simply gave in and got left behind.
Yes it is true that just a few years ago back in 2006-2007 the home improvement market was at an all time high. Everyone was caught up in the hype of a booming economy and home owners were going crazy decking out their master washrooms with two of everything for him and her, accessories, fixtures, jetted tubs, bidets, and marble as far as the eye could see.
Contractors were swamped with work and could hardly keep pace with the demand therefore they could charge pretty much what ever they felt like it at the time. Then the housing market did a face dive and the home remodelling industry fell with it.
With the slowing down of the economy remodelling jobs got cancelled as homeowners began to tighten their belts in case of a rainy day. Credit problems, loss of job security and worries over investments brought back visions of the stock market crash and the depression.
But if you are like the visionaries of the early nineteenth century you too will see the long term benefits of taking advantage of this temporary down turn. There are plenty of good contractors out there, with less wait time, reduced prices and projects completed faster because of the skilled workforce.
And remember contractors are trying to get a deal too so they are shopping around for the bests prices which will be passed onto you because businesses are trying to survive and may be willing to cut a deal. Also remodelling contractors are more likely willing to take on smaller remodelling projects because subcontractors are charging less with lower markups.
Taking Advantage of a Slow down in Construction
Truth be known, contractors and renovators are hungry for work. Wise home owners are taking advantage of this production distress and are undertaking projects that will make their homes not just comfortable but ultimately castles of luxury to live in.
They are not just buying and selling houses for resale value, given the current economic situation, but are renovating for the long term habitability and functionality of their home sanctuary. Homes have basically gone from a salable commodity back to a safe and entertaining place to raise a family.
But remember while the market may be tight, don’t expect miracles, these individuals need to eat and feed their families as well. You can probably expect a twenty to thirty percent reduction in costs from just a year or two ago.
So plan carefully, you might even be able to save a few bucks if the contractors does most of the work her/himself instead of subcontracting it out.
And of course if you want to save even more then take on some of the work yourself; however you may want to reconsider if you place value on your time, learning curb and the possibility of having to hire someone anyway to correct your mistakes.