When the economy goes up and down, building permits and remodeling activity generally follow suit. So when the economy is at a lower point, like it is today, you can typically get a discount on many home remodeling projects. This is because builders and contractors have free time, which means the power is in your hands to negotiate a better price on house-related improvements.
Yes, the real estate market is showing signs of stabilizing — sales of new homes surged 27% in March1 and housing values have slowed their decline, even growing in some markets.2 But remodeling deals are still out there and you may want to act quickly because, once housing heats up again, building materials and labor costs will also go up.
By Todd Ballenger, Founder of the National Institute of Financial Education
With commentary from Sarah Susanka
Save $25 on Your Next Service Call
