Posted by Peter Martino on Wed, Feb 25, 2009 @ 06:37 PM
The news these days speaks mostly of recession, the suffering economy, struggling industries and individual businesses. Given the state of our country's economy one would expect that the Home Improvement Industry will also suffer. However, that may not be the case.
In New England and other parts of the country, new construction housing has all but come to a halt, and housing sales in general are down significantly from the first half of this decade. In the past most families occupied a residence for an average of 5-7 years. But in a difficult economy that number is rising. Many homeowners are choosing to sit tight in the house they currently reside. This is great news for the Home Improvement Industry.
This phenomenon should positively affect established and professional remodeling and replacement contractors in 2 significant ways. The first way is that essential systems that tend to break down over time such as roofing, furnaces, boilers, hot water heaters, windows, and appliances, still need to be replaced. In the past some homeowners may have passed the cost and duty of replacing these systems to the next owner. But in many cases that is no longer an option.
The second way home improvement companies in New England may reap some benefits is the "don't move improve" mentality. Instead of upgrading to a newer larger home many people are opting to add on or remodel their existing home to suit their families needs. These types of projects often include additions, finished basements and attics, low-maintenance siding upgrades, garages, and kitchen and bathroom remodels.
Homeowners still need to do their homework and consider carefully who they hire.
Although well established companies will survive this tough season, less professionally run businesses and "fly-by-night" contractors most likely will not. If you are interviewing a contractor and they seem desperate to have your business and do not have a list of recent references to provide, consider this; There's a high likelihood that contractor will not be around for the long run. Do you want someone handling a project for you that will not be able to honor any warranty or service any issues that might arise it the future? Furthermore, consider the low level of workmanship you will receive from someone who is barely making money, if any, on your project. They will cut any corner possible.
Posted by Peter Martino on Fri, Jan 30, 2009 @ 07:09 PM
For years real estate agents and property professionals have been telling sellers to put more money into their kitchens and baths because it would give them the biggest return on their investment. It may have been true in the past but what does today's data tell us? There is a chance you may not have even heard of this product yet thousands of your neighbors in New England are benefiting from it.
According to Realtor.org/Realtor Magazine, in 2008 Major Kitchen remodels did make the top ten list on their annual Cost vs. Value report but the number one improvement you can make to your house and receive the biggest return on your investment is upscale fiber cement siding. Homeowners nationally received a return of almost 87% on every dollar spent. This does not include the aesthetic value, and immeasurable value of having a low-maintenance exterior. You may be asking yourself, "What is Fiber Cement Siding?" Don't be embarrassed. If you are living in New England, you have not been exposed to this product as frequently as the rest of the nation. However, thousands of your neighbors locally are replacing their failing vinyl, aluminum and wood siding with fiber cement siding. The two most known manufacturers are James Hardie® and Certainteed® Weatherboards®.
Homeowners simply love this product! Here are just a few of the benefits of fiber cement siding when installed properly by a professionally trained and certified contractor:
- It does not rot
- The coating will not peel
- Termites cannot eat through it
- Woodpeckers won't peck at it
- You receive a 50-year product warranty
- It is an environmentally friendly green product made partially with recycled materials
With today's financial uncertainty, the best thing homeowners can do is make sure their homes are well kept and updated. Fiber cement siding replacement is a great way to improve the value of your house whether you are planning on selling or if you plan on holding on to the property for the next 30 years.