Recession Remodeling - Taking Advantage Of Contractors
I've never been the kind of person who's taken advantage
of someone else, but plenty of people have taken advantage of me. Is it
fair? No it isn't, but that's the way it is. When times are good, it's
hard to find a contractor and even if you do, they will usually charge
you a lot of money.
With that in mind, why wouldn't I want to take advantage of contractors during hard times? I'm a licensed building contractor and have seen the ups and downs in the construction industry. Every time a recession rolls around, it seems like I'm bidding more work and getting less jobs. The opposite is true during boom times, but during the tough times, everyone wants a bargain.
Most contractors are willing to work for less, when work becomes scarce. It happens every recession and it will happen with the next one. If you don't have any construction projects today, keep this in mind, during the next economic recession. I've seen prices cut almost 50% on some projects.
I'm not talking about large projects like bathroom and kitchen remodels or building a new home. I'm talking about smaller projects like painting, home repairs and landscaping. I have still seen bathroom remodeling prices drop between 20 and 30% and that's a lot of money on a $30,000 bathroom remodel.
If you need some work done on your home, there's no better time to do it, than during an economic recession. During these times, there's more workers than work and contractors need to keep their workers busy, in order for them to stay in business. It's simple economics, the law of supply and demand.
As a building contractor, I shouldn't be giving these secrets out, but there they are. If you really want to find low prices, keep calling as many contractors as you can, until you found the lowest price. Good luck and be careful, hiring the cheapest contractor, because they might not be providing you with the most value.