The biggest remodeling bang for the buck these days is not remodeling projects per se, but getting caught up on deferred maintenance. During this economic downturn, many homeowners have put off needed maintenance tasks.
Leaks are bad for your wallet
If you have a slow leak anywhere, the sooner you fix it, the less you spend. We have seen horrendous damage caused by small amounts of water over long periods of time.
See below. Your deferring it to later ALWAYS costs more, often significantly more. We’ve seen situations where a $20,000 repair now could have been prevented with a $500 fix three years ago.
Which remodeling projects make sense if you are selling your home
If you are planning to sell your home now, you will not recoup the cost of a new kitchen or bathroom, but if you list your home while it needs $10,000 of repairs, current buyers will demand a $15,000 credit to move the purchase forward. If something is in need of repair, fixing it before you list will save you money.
How you work with contractors to determine pricing for home repair
For larger projects, you want a fixed price bid. For smaller projects, although this may seem counter intuitive, you are better served by time and material pricing.
Contractors who provide fixed price bids for small projects feel the need to protect themselves against the costs of fixing hidden or unseen damage they may (but may not) encounter. When you pay for smaller jobs on a time and materials basis, you avoid this.
You must also make sure you know exactly what their material markup is, and no contractor should ever resist showing you their receipts for all material they bought.
When you need help with repairs or improvements on your home, you’ll be well served to contact us and use one of the excellent contractors in our network.