The Best Time to Remodel
If you've been
paying attention to media coverage of the current housing downturn and
overall economic recession, you may be questioning the value of
remodeling your home right now. Will the cost of your dream remodeling
project go down in the future?
You also might
expect a professional remodeling company to argue just the opposite,
that now is the best time, financially and otherwise, to improve your
home. Of course, a remodeler's business depends on people making that
investment, but there are some logical and compelling reasons to
ignore the naysayers and consider remodeling now.
For example,
you may have planned to sell your current home and find one that
better suits your household and lifestyle needs ... until the
recession drove housing values down and caused you to put those plans
on hold.
It's likely
the situation persists and your house doesn't satisfy your family's
current needs. A well thought through remodeling project may be able
to address those issues. No one can predict the bottom of the housing
market, but improving your home can go a long way toward boosting its
value in a recovering market and making it a more comfortable and
better fit for your family in the meantime.
In addition,
interest rates for financing home improvements are at historic lows.
As the country's recent economic improvement and growth continue, it's
fair to say that rates are likely to rise.
The investment
prospect for remodeling now is even greater because improvements can
update and upgrade systems, products, and finishes to contemporary
standards of efficiency and comfort. When it comes time to sell, those
homes will logically be more valuable than older ones that have not
been remodeled.
While
improving your home now buys you some time for an economic recovery,
it also affords you the opportunity to get more of what you want in
the design and finish of your home. You'll create something that is
more valuable to your personal enjoyment and lifestyle needs. In any
economy, that logic makes sense.
Something else
to consider: Professional remodelers who have survived the current
recession have honed their construction practices and costs. Their
streamlined operations have lowered overhead expenses and raised their
business acumen. This translates into a great value for your
remodeling investment.
In addition,
global demand from emerging markets (like China) is likely to
continue. This will drive up the cost of raw materials, and as the
cost of building materials goes up, so does the cost of any home
improvement project.
Finally, many
of our key construction trade partners have cut their costs and
margins in an effort to stay afloat during this economic storm. As
business picks up, so will their fees.
Making the
decision to improve your home now benefits those who can look past the
headlines and scare tactics and understand that, in these times, the
best time to remodel may be about to slip away.
Warm
regards,
Austin Schmitt, John Schmitt, Mark Jackson, and
Elizabeth Mitchel
Kingston Design Remodeling
11515 Suburban Place
Fairfax Station VA 22039
(703) 323-6527 - phone
kingstonbuilders@cox.net
www.kingstonbuilders.com
c.
2006 All
rights reserved.
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