Inside Houston Real Estate

Cash in your pocket and equity in your Houston home? If you’ve been thinking about making changes to your house but thought you couldn’t afford a remodel, it’s time to rethink the possibilities. The payback on renovations in cost versus higher home value, should you decide to sell your house later, can be better than you thought.

Reason #1: Lower bids from the contractors. The home renovation business is falling with the current housing market, leading to lower bids for the homeowner’s remodeling project. In addition, most contractors are willing to negotiate with you for a better price, leaving you with a beautiful remodel for an excellent price.

Reason #2: Higher number of contractors to choose from. Although homeowners are still making repairs and working on their houses, the number of bigger additions and fancy remodels is going down. More contractors are competing against each other for your project.

Reason #3: Lower financing costs. If you have good credit and a steady economic foundation, you can get lower financing costs. This, in turn, makes the project that much more affordable.

Reason #4: Lower cost of materials. Because the number of major remodels is dropping, the demand for materials (and thus the cost) is also dropping.

Reason #5: Less waiting time for a top-rated remodeling contractor. With a lower number of people wanting to remodel their home, even top-rated professionals have a shorter waiting list.

Reason #6: Better service. With more competition, contractors are definitely giving “service with a smile.” Calls are being returned faster; jobs are starting on time (or before!).

If you looked into remodeling your Houston home more than a year ago, now is definitely the time to do something about it. However, even in this sweet time for remodeling, be aware of shady companies and shoddy work. Do your research before accepting any contractor.

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Links:

1. Payback on renovations

http://cgi.money.cnn.com/tools/renovation/renovation.html

2. Home renovation

http://homerenovations.about.com/

3. Top-rated remodeling contractor: if you have a contractor to recommend link to that page on your site or to their website, otherwise, link to:

http://www.bestcontractors.com/