Remodeling Is Costing Less These Days

By
Real Estate Sales Representative with Castles Unlimited®

Now is a great time to remodel your home or even have one built.  Because of the housing slump, the cost of almost everything used to remodel or build a house has gone down in price.  You can also get things done much faster than during the heyday of the housing boom. Not only are materials less expensive, such as lumber and drywall, but labor and design fees are less.  According to an article in todays Wall Street Journal (The Upside to to the Downturn by Sara Lin) framing lumber is down 24% in price, drywall is down 35% in price and oriented strand board (a plywood substitute that is used for walls and roof sheathing) is down 40% in price. So now is a great time to have that remodeling job done or better yet, do it yourself. 

One of the things to watch out for in this time of homebuilders and contractors being in bad financial condition or even going bankrupt is to make sure to have any work done by contractors in decent financial condition.  The last thing you want is for them to go bankrupt in the middle of the job,  thus leaving you in the lurch and losing money.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
remodeling
lower remodeling costs

Spam prevention
Show All Comments
Rainer
214,041
Doreen McPherson
Homesmart ~ Scottsdale ~ Tempe - Tempe, AZ
Phoenix Arizona Real Estate ~

What a timely post for me.  I am getting ready to do some serious remodel/repair work here in my home.  Thanks for sharing. 

 

Nov 24, 2007 01:44 AM #1
Rainer
56,558
Chul KIM McGuire
CorpusTV.com - Corpus Christi, TX

James,

How can that be? I can't believe the cost of housing materials and supplies have gone down like what Wall Street Journal's Sara Lin says. I'm curious as to where Sara Lin got her data.

Nearly all goods is reflective of the fuel prices: the cost to ship from A to Z. When fuel prices goes up, then many items - particularly housing materials and supplies usually go up too.

I haven't seen prices drop like the 24% and 40%. I sell real estate and do home remodeling and repairs for customers.

Cheers, Mr. C. KIM McGuire.  N. Padre Island, TX.  Where people still head to the beaches during winter!

Nov 24, 2007 01:47 AM #2
Rainer
130,565
Al Maxwell
Keller Williams - Marietta, GA
Real Estate Agent
We are also having some issues with remodelers and contractors being in financial troubles.
Nov 24, 2007 01:56 AM #3
Rainmaker
575,658
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re
We all have struggles with the prices adjustments of housing and the re-modelers will have to find ways to compete in the market we have to live with. Thanks for your post.
Nov 24, 2007 02:18 AM #4
Rainer
104,204
Rosario Lewis
DDR Realty - Newburgh, NY
GRI, SRES - DDR Realty - Orange County, NY
I too am considering having remodeling done this winter. i will take your advice about making sure the contractor is solvent. 
Nov 24, 2007 02:26 AM #5
Rainmaker
662,352
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

In the seacoast NH area tha tI live in lots of home owners are remodeling and not moving. I think this is good to do.

Patricia Aulson,Seacoast NH,ME,MA

Nov 24, 2007 02:35 AM #6
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
507,965

James Lowenstern

Castles Unlimited. Newton MA Real Estate
Ask me a question
*
*
*
*

Additional Information