Special Sections

2021 MBA Spring Tour

Conley Publishing - Special Sections

Issue link: https://www.ifoldsflip.com/i/1344742

Contents of this Issue


Page 9 of 11

MBA SPRING TOUR 2021 10 How to Find and Hire a Remodeler Right for You By the Metropolitan Builders Association Are you tired of cooking in a dated kitchen or spending time in cramped living space you've outgrown? If you are a home owner ready to make upgrades to your home rather than selling and buying a new home, it may be time to remodel. If your remodel involves structural, electrical or plumbing work, you should strongly consider hiring a professional remod- eler. A professional remodeler works to ensure construction on your home is completed safely and meets high quality standards. Some projects take considerable time and money so it is important to select a contractor you can trust. Here are five pro-tips on how to find and hire a remodeler. Utilize a Professional Directory A general internet search of remodel- ers will generate dozens of names. How do you vet them all? The best place to start is by utilizing a directory of professional remodelers. The Metropolitan Builders Association (MBA) has a directory of local profes- sional remodelers dedicated to the highest professional and ethical standards in the home building indus- try. The MBA directory can help you find a remodeler with specialized training such as a Certified Aging-in- Place Specialist (CAPS) to help modi- fy your home to better suit you as you age, or a Certified Green Remodeler (CGP) to make your home more energy-efficient. Research Potential Remodelers A professional remodeler will likely have a website and/or social media accounts that showcase previous home renovation projects. Review sites such as Angie's List, Houzz or HomeAdvisor, which may also have photos of completed projects and reviews. Generally, online reviews can have a mix of positive and negative comments. It is important to focus on descriptions of experiences and qualities that are important to you as a customer. Reliable referrals can also come from family, friends and neighbors. Ask them about the type of remodeling work completed on comparable homes with similar schedules. Narrow Down Your List A good rule of thumb is to double check that your potential contractor has the appropriate license and a good track record. Your local or state office of consumer protection will like- ly have information about the contrac- tor you are researching. You should be able to verify that the remodeler has the appropriate licenses and registra- tions. Connect and Ask Questions A qualified remodeler will be forthright and answer any questions you may have about their professional experi- ence, knowledge of the homes in your area and details related to the residen- tial building permitting process. Ask about how long their business has been in the community and request references. You also want to make sure the contractor carries insurance that will protect you from claims arising from property damage or job site injuries. Explore Steps for Estimates and Contracts To make sure you and your contractor agree on the scope of the project, it is important be on the same page about the specifics. A qualified remodeler will provide a written estimate before beginning the work and provide a detailed contract. The contract should clearly spell out what work will and will not be performed and provide a payment schedule. Overall, your home remodeling project should be a positive experience if you work with a professional that fits your needs. Trust your instincts when hiring a remodeler. You will be spending a significant amount of time with your remodeler over the course of your project, so trust and regular communi- cation is key. For more information about finding, evaluating and working with a remod- eler, visit FindAnMBAMember.com. Home Buying Interest Increased Amid the Pandemic By the Metropolitan Builders Association The pandemic changed consumer purchasing habits this year, from more restaurant take out to fewer live, in-person entertainment ticket sales. How did the pandemic affect larger purchases like homes? According to the National Association of Home Builders' (NAHB) latest Housing Trends Report, survey responses show that home buying interest increased amid the pandemic in the third quarter of 2020. Home buying ramped up at the begin- ning of the second half of the year. Among the 13 percent of American adults considering a future home purchase in the third quarter of 2020, half (50 percent) have moved beyond planning and are actively trying to find one to buy – compared to less than half (44 percent) a year ago. The COVID-19 pandemic and record-low mortgage rates are likely contributors to this increased activity. The jump in interest primarily comes from a majority of millennials (58 percent), adults 24 to 39 years old, and Gen X (52 percent), adults 40 to 55 years old. Home buyer perceptions also changed in terms of the ease in searching for a home. More than one-in-four prospec- tive buyers (28 percent) in the third quarter of 2020 expect their search for a home to become easier in the months ahead, while a majority (61 percent) expect it will be harder or stay the same. By contrast, a year earlier, fewer buyers (21 percent) expected availability improvements and more (68 percent) thought it would be difficult to search for a home. Strong new and existing home sales in the summer of 2020 may have been a factor contributing to buyers' improved expectations for housing availability. As the number of active buyers searching for a home increases, the length of time spent searching contin- ues to grow. In the third quarter of 2020, 62 percent of buyers actively engaged in the purchasing process have spent three months or more looking for a home, compared to 58 percent a year earlier. Geographically, larger shares of prospective buyers in every region (Northeast, Midwest, South and West) are actively trying to find a home to buy compared to a year ago. In terms of the type of home prospective buyers are looking for, interest in a newly-built home rose to 31 percent in the third quarter of 2020, up from 18 percent a year earlier. For more information about home buying, visit MBAonline.org.

Articles in this issue

Links on this page

Archives of this issue

view archives of Special Sections - 2021 MBA Spring Tour