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Tuesday, January 11, 2011

WHY IS IT A GREAT TIME TO IMPROVE YOUR HOME? NOW!

ACCORDING TO MONEY MAGAZINE’S - AMANDA GENGLER, THIS IS A PARTICULAR GOOD TIME TO DO HOME RENOVATIONS EVEN PESIMISTIC STATISTICS MAY SAY OTHERWISE.

CONSIDER THE FOLLOWING:
-THE COST OF MOVING UP VS FIXING UP
-INTEREST RATES TODAY: HOME EQUITY LINES OF CREDIT- IT COULD BE AS LOW AS 3%. HOWEVER 4% TO 5% IS STILL FAVORABLE. COMPARED TO 2008 WHEN RATES HIT HIGHER THAN 8.25% (ACCORDING TO HSH.COM)
-CONSIDER WHAT THE MONEY YOU WOULD INVEST IN FIXING UP YOUR HOME WOULD DO IN A TYPICAL BANK ACCOUNT AND MONEY FUND PAYING A LOT LESS THAN 1%.
  • ALSO CONSIDER ALSO THE FOLLOWING, BUT DON’T EXPECT SOMETHING FOR NOTHING OR IF IT’S TOO GOOD TO BE TRUE IT PROBABLY IS. (THIS IS NOT AMANDA’S OPINION, THIS IS MINE)
  • IT’S TRUE THAT THE CONSTRUCTION INDUSTRY IS STILL SLOW, IT’S TRUE THAT DUE TO HOME BUILDING INDUSTRY BEING AT ALMOST A STAND STILL THERE ARE MORE PEOPLE COMPETING TO BID ON YOUR PROJECT. BUT BE AWARE THAT; THIS INDUSTRY COLLAPSE HAS ALSO PUT MORE PEOPLE OUT THERE WANTING/OR THINKING THAT SINCE THEY BUILT A SHED THEY CAN ALSO REMODEL YOUR KITCHEN OR BUILD YOUR ADDITION.
  • NOT SO, A LOT OF BUILDERS, FOREMEN AND HIGHLY PAID INDIVIDUALS HAVE RESULTED TO DOING REMODELING OUT OF THE BACK OF THEIR TRUCKS TO SURVIVE. WHAT DOES THIS MEAN TO YOU? WELL, FOR ONE YOU GET WHAT YOU PAY FOR. IF THEIR PRICE IS A LOT CHEAPER THAN ALL YOUR OTHER QUOTES, THERE MAY BE A PROBLEM

-IN THIS ARTICLE AMANDA ESTIMATES THAT A DIFFERENCE IN “10% TO 20 % BELOW WHAT YOU WOULD HAVE PAID WHEN REAL ESTATE WAS GOING GANGBUSTERS” AFTER BEING IN THIS INDUSTRYHANDS-ON FOR OVER 15 YEARS, MY HUMBLE OPINIO IS THAT IF THE PRICE DIFFERENCE IS ABOVE 10%, THEN THE DIFFERENCE WILL BE MADE UP LATER ON DURING THE PROJECT.
  • IT COULD BE BY SACRIFICING THE QUALITY OF PRODUCTS/MATERIALS
  • IT COULD BE BY GOING WITH LOWEST BIDDER-FOR YOUR PLUMBING, HVAC OR ELECTRICAL WORK.
  • IT COULD BE IN THE FORM OF CHANGE ORDERS…BE SURE TO OBTAIN A DETAILED SCOPE OF WHAT IS INCLUDED AND WHAT IS NOT.

http://www.cbsnews.com/stories/2011/01/11/

TUNE IN LATER TO LEARN MORE ABOUT THIS TOPIC
            THE HOTTEST COLOR OF 2011 AND WHY IT WAS CHOSEN
            AS WELL AS UPCOMING EVENTS, PRODUCTS AND IDEAS
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