Researchers tell us most homeowners think about their remodel for years before ever taking that first step in contacting a remodeling company. Which is fine. We honestly don't care how long it takes our clients to pull the trigger. However, if they knew what was at stake, they just might. There are two big downsides to feet dragging. CAN YOU GUESS WHAT THEY ARE?
The first one, and perhaps the most important impact on waiting IS THE COST. It's not going to go down. Sure there are minor fluctuations in some raw materials that rise and fall with demand and unforeseen effects of dramatic weather events. But even with current low inflation, your project could cost anywhere from 5% to 10% more from one year to the next. We just starting getting our notifications for 2017 on price increases from our strategic partners & suppliers. Labor rates can and will also rise from year to year compounding material price increases.
Fortunately, most of our trade partners/supplier will honor a price if you can get a preliminary order in or quote with some timeline attached, even if we don’t need it on site for a month or two. That's the smart move.
With the restrictions of a detailed building agreement with guaranteed pricing, the final project price will include any additional costs due to price increase until the agreement is signed. This might mean having to sacrifice either the scope of the project or the quality of materials to some degree—say goodbye to that gorgeous Cambria (BELOW) and hello to that adequate laminate.
Victor Kiam said that. Remember him? He's famous for a few things like the Remington TV ad tag line, "I loved the razor so much I bought the company!" He also bought the New England Patriots in 1988 for 84 million. He knew something about investing money and taking advantage of opportunities.
The second downside of waiting too long for a remodel is the simple loss of enjoyment—the time you could have spent enjoying your new space that you can't ever get back.
Our recent Remodelers Showcase homeowner commented to one of the tour attendees that she was so glad she did her basement remodel so her high school kids had a great space to enjoy and share with friends. If she had waited even a year or two that opportunity would have been gone.