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Is your home in WA, OR, CO, or ID in need of some updating? If so, should you consider remodeling it during the COVID-19 pandemic? This article will list some of the pros and cons of doing so.
Nearly everyone has been impacted by the COVID-19 pandemic in some way. While many people are getting tired of being cooped up in their homes, the home improvement industry has actually been able to stay afloat. In fact, it is actually thriving.
Because many people are trapped in their homes during the COVID-19 pandemic – even though things are gradually opening up as we go further into 2021 – many people are thinking about carrying out a home remodeling project. For those who are wondering about the prospects of such an undertaking, it is important to weigh the pros and cons.
There are a few benefits that people should note about remodeling during this time including the following.
Right now may be a great time to plan out the project. Many people are home these days because of the pandemic forcing workers to physically distance, so there are plenty of people who are working from home or are collecting unemployment as a result of being temporarily laid off.
Remodeling can be very time-consuming, so having some extra time can be very helpful when upgrading your home in Washington or Colorado. With extra time, people can compare costs, take virtual tours of showrooms, and even check out some of the latest designs.
While many businesses have shut down temporarily as a result of government regulations surrounding the handling of the coronavirus pandemic, some brick and mortar showrooms are still open. And, many that were once closed are starting to open up again. While many people are nervous about venturing out during the COVID-19 pandemic, these showrooms are still maintaining proper social distancing measures to keep their staff and customers safe.
You can take advantage of the fact that these places are still in operation to get all the tools and materials that you need to remodel your home. Plus, the social distancing measures will make these stores far less busy than they normally would be, allowing more freedom to peruse these places to find what you’re looking for.
Finally, there are also a handful of discounts available to those who are remodeling during this time. Because they are eager for business, renovation companies that are operational throughout the pandemic are often willing to slash the prices for their services.
Many businesses took a major financial hit because of the current health crisis, and many are just starting to get back on their feet. They’ll appreciate your business to revamp your Idaho or Oregon home and may be more open to offering you a better price for their services.
That said, the economy has been steadily improving, and businesses continue to open back up. As such, the discounts of today may not be as widely available as they were last year. The sooner you take advantage of any discounts available, the better.
These are some of the biggest benefits for people to note; however, there are also a few drawbacks as well.
Some of the disadvantages of trying to start a home remodeling project during this time include the following.
Because of businesses shutting down and manufacturers halting all operations for a while, there may be the chance of a shortage of materials available to carry out the project. Manufacturers have not been working nearly as much as they normally would have, even though they are gradually returning back to pre-COVID schedules, so material availability may be down. It might take time for companies to restock their inventory, delaying the start of the project.
Thanks to more limited supply, demand may be up. And when there is an imbalance of supply and demand, prices can go up. While some items and materials that you may need for your remodeling project may be cheaper, others are more expensive because the supply has dried up. As such, you may have to adjust your budget accordingly.
For those who might be in a challenging financial situation during the pandemic, there is a risk of spending too much money as the project gets going. If you don’t account for expenses that may creep up throughout the project, you could find yourself going way over budget and spending a lot more than you need to when fixing up your home in Seattle, Portland, Boise, or Denver.
For these reasons, it is important for everyone to carefully weigh the pros and cons of starting a home remodeling project during this time. While there are some attractive offers, everyone’s individual situation is different. People need to think about what is right for them.
If you’re in need of a mortgage, Sammamish Mortgage is here to help. We are a mortgage company serving the Pacific Northwest region including Washington, Idaho, Colorado, and Oregon. We have been providing mortgage programs with flexible qualification criteria to borrowers since 1992. Please contact us if you have any questions or are ready to apply for a home loan.
Whether you’re buying a home or ready to refinance, our professionals can help.
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No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.