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Started By
Message
Home Remodels over the next few years
Posted on 10/4/22 at 4:21 pm
Posted on 10/4/22 at 4:21 pm
With interest rates sky rocketing and a possible mini recession ahead…do you see the costs to renovate a home coming down? My wife and I are saving with hopes of doing this in the next several years.
7
Posted on 10/4/22 at 4:23 pm to bgbam07
I think that is highly unlikely.
Posted on 10/4/22 at 4:41 pm to bgbam07
I don’t know. We are about to drop some money to remodel our bar. 
Posted on 10/4/22 at 6:46 pm to bgbam07
I don’t think so. Congratulations to anyone that renovated before Covid. We just had estimates to do a partial remodel of our kitchen and living room, and to build a covered porch off the back of the house, and they were absolutely outrageous.
Posted on 10/4/22 at 9:12 pm to bgbam07
Yes.
Contractors will be hungry for work if they are not tied up with new construction. Materials will also be more readily available.
20+ years in the construction industry.
Contractors will be hungry for work if they are not tied up with new construction. Materials will also be more readily available.
20+ years in the construction industry.
Posted on 10/5/22 at 11:13 am to bgbam07
just don't take out a HELOC to do it if it is not absolutely necessary
interest rate environment is too volatile and you'll want to keep some hard earned equity assuming you have it
interest rate environment is too volatile and you'll want to keep some hard earned equity assuming you have it
Posted on 10/5/22 at 4:28 pm to bgbam07
We’re all gonna be living in mud huts in a few years assuming you’re not in the fema camp or the mass grave
Posted on 10/7/22 at 4:58 pm to bgbam07
The real question you should be asking yourself is how much sweat equity you’re going to put into it.
That is the biggest determining factor in whether you make money or lose it IMO. I don’t think you should take on renovation projects until you have done experience with them from a hands on perspective.
Materials costs will probably decline somewhat, which will help you if you’re doing a significant portion of the work.
That is the biggest determining factor in whether you make money or lose it IMO. I don’t think you should take on renovation projects until you have done experience with them from a hands on perspective.
Materials costs will probably decline somewhat, which will help you if you’re doing a significant portion of the work.
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