NOW is a great time to build
What makes the current economy such a good time to build or remodel? Indeed, is there any time that is better than another? I say yes, and I also say that now IS a great time to be looking at those building and remodelling projects that you haven't gotten round to. Those ones you've said, "One day I'' get around to it." So here's your very own "round tuit". Yeah, yeah, I know it's an old joke, and a pretty bad one. But the truth is, we all have things which we're going to get round to, but put off for various reasons. And the bigger the job, the more we tend to procrastinate - especially because of funds. But now you have your round tuit, let's look at 3 reasons why right now is a great time to build or remodel.
Interest rates are down
Money is cheaper now than for a long time, and there's lots of it. True, it's harder to get, and the house price crash has eroded equity many people had built up, but, if you can get finance (or have some tucked away), now is a good time from a finance point of view. And the great thing about putting money into an asset like a home is that it will bring a good return. Again, it's true that every homeowner has experienced a loss unless they have just recently purchased, but everything goes in cycles. From 1963 to 2004, the median house price rose over 1200%. Although this doesn't take into account inflation (a negative on this figure), it also doesn't take into account the benefit of not needing to pay rent (a positive factor).
Contractors are hungry for work
The construction industry is tough, there's no getting round that! General contractors, plumbers, electricians, and, yes, designers too, are all out there looking for work, so pricing has gotten sharp. Right now you can get good deals on your project. I recommend getting 3 quotes. Any more and you're wasting people's time, any less and you can't be sure you are getting a fair price. However, a word of warning. You may have to work hard to get quotes which you can really compare. In my experience, building contractors produce some of the worst quotes of any industry.
Suppliers are hungry for sales
Just like contractors, suppliers too are hungry to sell you their products. Shop around, especially on the Internet, and you can save yourself thousands. If you feel confident, become your own contractor and buy your own product ad save even more money. But do your homework, and know what you need, what you want, and what you're getting. Your neck is on the line if you buy the wrong product.
If you are looking at remodelling, rebuilding or building, then now is a great time to build. You can not only save money, but you can probably get a contractor to start pretty quickly. And it gives you good ability to shop around.
One final comment. When hiring contractors, ask for references, check the Contractors State Licencing Board, BBB, and other review sites. It's time well spent.
