Home remodeling during Covid-19—'expect it to cost 50% more and take 50% longer,' says finance expert

  • 📰 CNBC
  • ⏱ Reading Time:
  • 63 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 72%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Home remodeling during Covid-19—'expect it to cost 50% more and take 50% longer,' says finance expert. (via CNBCMakeIt)

renovation. You've been stuck indoors since the pandemic — and you plan to be for a while longer. So why not put some money into making it look nicer?. I've been through four projects, and none of them were pleasant. But, after the first two, I finally wisened up to the game that some general contractors play to extract as much money from homeowners as possible.1. It will cost more than expected.

Don't rush into anything. Do your research, get multiple bids, and be willing to walk away. Be as detailed as possible when drawing up the contract regarding costs, time, materials and work.Two classic lines you may hear from your contractor if they're lagging on time: "This project is costing me money." "I'm practically working for free."

Let's say you just bought your dream home. "We love it so much, and it's in the perfect location," you tell your contractor. You also let it slip that you overbid by $65,000. That's a lot. In such a scenario, your contractor might think:Keep things strictly business and leave your emotions at the door.A few years ago, my wife and I downsized to a less expensive home that needed some work.to choose, and at what price range.

The final elements are timing and purpose. If economic conditions are right, the best time to list your property is as soon renovations are compete. That's when your home will look and smell the best.6. Beware of pricing discrimination by neighborhood. A house priced at $1,500 per square feet, for example, has a much higher renovation buffer than a house that sells for $500 per square feet.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

MakeIt Why ?

MakeIt finally some practical bi-partisan tweet from Keep it up or stay classy!

MakeIt The supply chains for materials are jacked. Impossible to get some components.

MakeIt firejimcramer

MakeIt Um..it already is and has been..wood and sheet rock prices have gone up 30-60% because of close downs in manufacturing and shipping.

MakeIt Idk why u guys gotta lie about stupid stuff

MakeIt 'finance expert'

MakeIt False. I did a complete kitchen remodel and no the cost and the time wasn’t 50% longer.

MakeIt Expect people to do more DIY to avoid these costs.

MakeIt Probably a better time to be simplifying our lives, instead of building them.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker