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Homeowners beware of the low price!
I'm seeing a disturbing trend out there in the home improvement/repair industry: competition is skyrocketing and price for the work is dropping.
Bruce Case, President of Case Institute of Remodeling, recently said that "...levels in competition have gone way up, frankly through the roof, which is unique among most industries, because most industries when there's challenging times you see less competition..."
Translation: General Contractors that built houses are now doing repairs and remodels, those already doing remodels are now doing repairs, those doing repairs are still doing repairs, and those laid off have gotten their tool belt and gone out on their own to do repairs. Competition is tremendous right now!
This is great for the homeowner, as the pool of available home improvement contractors is way up, but the pool of available work is flat at best and more likely down in the economy. That means that prices are getting cut to get the work. Cut to the bone in many cases!
But it's also not great for the homeowner. How do they choose who to hire? Getting 5 quotes has become standard in some cases. And then price becomes the biggest (only?) factor considered by the customer. And that's ... more
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