There are a lot of folks who are happy 2010 is over and are looking forward to a better 2011. For many homeowners who struggled to make mortgage payments and get bills paid, 2010 was a year of putting off big home purchases, like furniture and appliances, and big home-improvement projects, like recarpeting and repainting.
According to ServiceMagic’s Q3 Home Remodeling and Repair Index, Americans have switched their focus from adding on and doing major remodeling projects to completing “high cost” projects deemed “necessary.”
But you can’t put off an important home repair forever, even if it is expensive.
According to Craig Smith, ServiceMagic CEO, “Homeowners have started investing in large-scale improvement and repair projects, like windows, roofing, heating and air-conditioning, and septic tanks and wells. Many homeowners told us that they have been putting these projects off for a year or more but could no longer wait to replace these major items. As homeowners decide to stay put, they are continuing to invest in their homes.”
If you have decided to start a major home repair project, there are many things to consider before you sign an agreement with the first contractor to walk across your doorstep. For a checklist of what to do before starting a major project, check out my full blog post at http://real-estate.equifax.com/2010/12/best-time-of-year-to-start-big-home.html.
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investor
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