________________________________________________________________________________________________________________________
▼ Before
have sharply decreased over the past year . Inflation and supply chain issues have also affected the cost of new materials and labor for new construction , preventing homeowners from moving .”
As a result , homeowners are deciding instead to put on an addition or take on major renovations to upgrade the layout or finishes of their property . However , where the process of buying and selling a home is well-defined and standardized , the process of home renovation is a bit more like a Choose Your Own Adventure
book ; the options range from hiring a contractor to implement the remodel , to selecting a design-build firm that will do it all .
As an industry , there is wide variation in the way builders operate , from the level and types of services they provide , the pricing structure and markups they utilize , to the tools for project management and communication channels they employ . This leaves homeowners with a heavy load to manage even before their project begins , and necessitates the need to research and interview several companies and consult with friends who have done similar projects .
Choosing a team
A person ’ s home is often their largest asset . To entrust it to a person or company to literally rip it apart and put it back together is quite frankly , terrifying . Every project will have surprises , making it critical to find a partner with a commitment to mutual trust and
respect to navigate these uncertainties with fairness and grace under pressure .
Furthermore , just a few years ago , construction loans were a go-to solution for homeowners looking to renovate , rolling the upfront costs of construction into a long-term end mortgage . More and more , we are seeing rates so high that our clients are choosing to self-fund their improvements . Because of budget restrictions , it is important to identify a company that puts time into estimating your project up front so that you can plan and make informed choices . If a contractor or design-build ’ s prices seem too good to be true , they probably are .
20