The Right Contractor Gets Your Job Done

We have all heard horror stories about what can happen when people hire the wrong contractor. “It took three times as long as it should have!” “They wound up charging me half again what they said it would cost!” “They never even called me back!”

Those kinds of tales can be enough to keep you from even considering starting any of the home improvement projects you may have been thinking about for this summer. But that doesn’t need to happen – and it shouldn’t happen: protecting and improving your real estate investment is too important to your financial future. Sometimes the difference between a successful outcome and a disappointment is as simple as getting started the right way. Just three simple steps (combined with your own good common sense) will get your own real estate improvement project off on the right foot:

1. Get Recommendations

Most important is the first step: get recommendations. Trusted real estate agents usually know some of the most reliable local contractors (I always have a few recommendations or know where to point you to get them.) Take enough time to collect as many names as possible. Friends, family, neighbors, co-workers – even the local hardware store proprietor -- can offer names and first-hand experiences. Then check reputations: use the Better Business Bureau for their accreditation, and see what people on the Internet have to offer (though I always take Web gossip with a grain of salt!). Usually the best recommendations come from people you know who relay their own experiences, good or bad.

2. Meet Each Contractor

You are looking for a licensed professional who does excellent work on time and on budget. After creating a short list of contractors, take the time to meet each of them at your house. The contractor can then give you a written estimate of how much the work will cost you and how long it will take.

3. Double-Check

After you have settled on a final candidate or two, don’t be shy about asking to speak to a couple of recent clients about their experiences. It’s not unreasonable to ask; after all, if your job gets done on time and on budget, won’t you be willing to answer a phone call or two?

If you want a stress-reducing way to protect and improve your real estate investment, hiring a great contractor is the vital first step. As your Evansville real estate professional, I will be happy to steer you in the right direction when it comes time to work on your home – don’t hesitate to call! You can reach me on my cell phone 812-499-9234.

Home Remodeling Activity Picks Up

Construction spending in April posted its biggest gain in six months — getting a boost by spending on home remodeling.

While overall construction spending increased only slightly by 0.4 percent in April, the increase in spending on home improvements helped offset some drops in single-family homes and apartment construction, the Commerce Department reported Wednesday.

Construction spending for residential homes increased 3.1 percent in April mostly due to the uptick in home remodeling, the Commerce Department noted. Instead of buying a new home, more people seem to be opting to remodel their existing home. The National Association of Home Builders recently reported that the home remodeling industry saw some of its biggest gains in more than four years. NAHB’s remodeling index recently reached its highest level since the fourth quarter of 2006.

Meanwhile, construction of single-family homes dropped 1 percent in April, the Commerce Department noted. On the other hand, nonresidential construction increased slightly by 0.4 percent for the month, with the increase mostly attributed to a rise in spending on health care, schools, and power plants.

Overall spending on construction projects in April remains far below the $1.5 trillion annual amount that economists consider healthy for the sector. In April, construction projects totaled a seasonally adjusted annual rate of $765 billion — only slightly above the 11-year low reached in February of $761 billion.

"The overall story here is that housing is hugely depressed, but it has probably hit bottom," says Ian Shepherdson, chief U.S. economist at High Frequency Economics.

Source: “Builders Began More Remodeling Projects in April, But Construction Spending Near 11-Year Low,” Associated Press (June 1, 2011) and “Renovations Lift U.S. April Construction Spending,” Reuters