It's springtime and that means it's home renovation time. While the economy's bad, you may think you can't afford to fix up your home. But because of the bad economy, contractors and home improvement stores are cutting deals.
Since the housing market slowed down, more contractors are looking for projects... and cutting deals. Said Tom Dillard with Dillard-Jones Builders, "Builders and sub-contractors are more hungry for work, so we're willing to be competitive and work harder for your job."
Contractors say you could save 10% to 20% percent on home improvement projects right now. Wood and materials are a cheaper and loan interest rates are low. Said Dillard, "Most people can get an interest rate below 4.5%."
Dillard says more people are staying in their homes, rather than trying to sell, and investing in renovations instead. "The biggest things that impact resale value are outdoor living is huge, kitchens, bathrooms."
"Right here the ladies will get a demonstration of how to lay your walkway," Lisa Renna of Home Depot showed us along a pathway of pavers. Renna says more customers are becoming do-it-yourself-ers to save money. "They can come in and do laminate installations, the ceramic installations."
She says you'll find deals on the materials you'll need. "We're currently offering 20% off select decking materials and if a customer came in and wanted to know how to design a deck, we have a system here."
Whether you fix up your home yourself, or hire a professional, experts say you can save some money now and collect more money later when you sell the home.
Stores like Home Depot and Lowes offer how-to clinics on a variety of projects.
Here is some advice on how to choose a reputable contractor:
check their license with the State Department of Labor, Licensing, and Regulation,
check the Better Business Bureau and the Department of Consumer Affairs for customer complaints,
and ask for references and to see similar projects they've done.
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