Anytime someone asks me when is the best time to take a remodeling project, my answer is almost always “right now.” There is no ideal “remodeling season” like there is for homeowners that live in areas where the ground stays frozen for part of the year or deal with months of rain or other extreme weather. In this current economic environment, there really is no busy or slow season.
As remodelers,the only thing that really affects us is our client’s availability. School, holidays, vacations, family changes, and work schedules are all parts of life that drive the timing for when clients decide to focus on remodeling their home.
With that in mind, I’ve put together a summary of common reasons why you should either move forward now with remodeling your home or wait until later:
Now
• Inflation – In the world of residential remodeling, inflation is real. Wages are increasing, codes are getting stricter, labor is getting scarce, and demand is high. Rising interest rates may cool things some, but it is safe to say that your remodeling project will cost more a year from now.
• Momentum – Do your research, gather your ideas, and talk to professionals. Once you get going, use that momentum for seeing it through to the end.
• You’re not getting any younger – Continuing to live in a space that you’re not happy with or comfortable in can take its toll on you and your family. Make those improvements now so that you can begin enjoying them sooner.
Later
• Family transitions – Taking on a remodeling project is disruptive to the entire household. If the kids will be moving off to college in a couple of years, or a family member is staying with you temporarily, wait until they’re out of the house.
• Funds – Yes, inflation is real, but if it takes another year or so to build up the funds to get the project you really want, do that rather than having to trim off scope or features that are important to you.
• Career opportunities – Investing in larger remodeling projects generally take time to pay for themselves in terms of increased home value and equity, so if a possible relocation means you may have to put your home on the market, hold off on any major improvements until you know for certain you aren’t planning to relocate anytime soon.
Brad Little is the president of Case Design/Remodeling of Charlotte and has been leading a team of award-winning designers and craftsmen since 2005. To view more of their projects and schedule a free consultation, visit www.casecharlotte.com or call 704-759-3920.