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What a boom in home improvements means for you

If you have moved recently or are considering buying a new home, you may have noticed that the real estate market is presenting some serious challenges for buyers these days. Between the low inventories and high number of people looking to buy, there is a lot of competition out there and buyers aren't guaranteed to walk away with a deal.

Because of all these factors, many homeowners are opting to stay put and improve their own home rather than take their chances out in the market. This is creating a so-called boom in home improvement, and according to some estimates, there could be a whopping $300 billion spent on home remodeling and repairs in 2016.

This boom in spending on home improvement can mean a few different things for homeowners in terms of construction projects and potential hiccups.

  1. Increased demand for construction work could make it difficult to find and retain the services of a qualified construction company with a good reputation. This is especially true if you are on a tight timeline or if you have a very strict, specific budget. Do your research before hiring a contractor or construction company.
  2. With more work comes tighter timelines for contractors. Unfortunately, those who are unable to meet deadlines or manage schedules properly may find it all too easy to cut corners by using improper materials or simply skipping important steps in a project.
  3. Homeowners may be tackling bigger projects that require more subcontractors and suppliers. As the number of people involved in a project grows, so too does the possibility that miscommunication could jeopardize that project.

With all this in mind, it will be critical for homeowners across Florida to use caution when it comes to remodeling a home. Review contracts closely, make sure you know you are getting what you are paying for and consult an attorney as soon as possible if a dispute does arise. 

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Tannenbaum Scro, P.L.
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