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Do Remodel Projects When Builders are Idle

The news certainly keeps us informed about the housing markets, and it hasn't been a bed of roses.  New home construction is down, and home prices are stagnant in most areas.  But, if you already own your home, now is a great time to consider getting those long-considered remodel projects done.

Builders use sub-contractors for much of the work in building a home.  When new home construction volume is weak, a whole lot of subcontractors are out of work.  Many will be quite happy to take on a smaller project at a really great price to keep the cash flow moving in their businesses.

While this gets you a discount on the labor, don't forget that the home builder supply stores are hurting as well.  So, materials are being sold at lower prices, and either you or your contractor can make some great bargain purchases right now.

If you have the cash, it's a great time to do that new kitchen you've been talking about.  But, if you need a loan, things are getting better as well.  So long as you have equity, there are still refinancing loans, second mortgages, and home improvement loans available.  Sure, they're harder to get, but the interest rates are at historical lows.

Homes will appreciate in value again.  If yours needs modernization, new kitchen or baths, now is a great time to get the work done at very low cost.  Not only will you enjoy that new kitchen or whirlpool tub, they'll bring you more money when you're ready to sell.

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