Why Pent-up Demand will Lead to a Rise in Remodel Prices in 2014
I don’t have to give you a history lesson about the recent economic downturn. Suffice it to say that it walloped a whole host of industries, but few were as seriously impacted as the field of construction. Because folks held off on new building and remodeling, many who work in the industry left for more lucrative positions.
Fast forward to mid-2013. The job market is less dicey, the stock market is strong, and the real estate market has “seller friendly” written all over it. So, what does a homeowner who has a place that doesn’t quite fit their needs anymore do? Often, the answer would be, “Sell it and buy a house that works better,” but the severe deficit in houses for sale makes that nearly impossible. Today the answer is, “Stay in place, remodel your home, fix what you’ve put off and stay away from the real estate market!”
But wait. Remember when all of those professionals left the field of construction for other jobs? Well, many have yet to return – and much more simply won’t. That means businesses like mine, which are committed to only hiring the best, most experienced hands, will pay top dollar to lure the finest construction professionals back into the fold.
We have what some would call a perfect storm in the construction world: A major leap in demand because of pent-up need has lead to well-respected remodel and construction companies experiencing a significant uptick in jobs. At the same time, the remarkable reduction in very-qualified labor means that wage rates will continue to rise along with demand.
Let me share a little personal info with you: Before I invested decades of my life in this business, I majored in Economics in college. So, between my education background and my business background, I feel qualified to make a big prediction: The cost of remodels and construction will rise by up to 30 percent in 2014.
So what’s a homeowner who craves the convenience of a new kitchen (or bathroom, or…) do?
Call now and get on the schedule before your neighbors do! Demand is picking up the pace every day; the longer you wait, the more it will cost you. Don’t put your “home happiness” off one more minute!
Established in 1980, Randal G. Winter Construction Inc. is conveniently located at 28348 Constellation Road, Suite 810 in Santa Clarita. Reach them at 661-799-8089 or log on at www.RGWinter.com. CA License #395715