My column from the March edition of the Angie's List Magazine.
Last May, Scott Szala could hardly
find a contractor to return his phone calls. The ones who did show up didn’t seem interested in taking the job. But times have changed.
“Now I get a phone call back the same day, and they’re out at the job site the next day wanting to bid it out,” says Szala, who’s taking advantage of the slow economy to score great deals on the
remodel of his 1926 bungalow.
The Tampa, Fla., resident isn’t alone. In a recent nationwide poll of Angie’s List members, more than 50 percent agreed now is a good time to invest in home improvements. The downturn in the economy has created a good situation for consumers who are positioned to spend, and a lot of great contractors are looking for work, so they’re willing to negotiate.
Szala estimates he’ll save $10,000 to $15,000 by getting four to five bids for each project and using those to negotiate a lower price. And he’s very transparent about the process.
“I tell them straight up what I’m doing, and when I decide which contractor I like best, I say, ‘I’d like to work with you if you can meet me on price.’ None of the contractors I’ve worked with have been put off.”
According to the poll, more than 60 percent of members are planning a home improvement project this year, with additions, remodeling, painting, repairs and landscaping among the most popular.
Last year, members reported spending an average of $15,020 on their projects. This year, they plan to spend more than $23,450. Of those, 61 percent said they’ll pay cash for the project, while 14 percent said they’ll get a loan or pay on credit.
Although there really are some great deals to be found on labor and materials, be careful not to hire on price alone. Just as there are good contractors looking for work, there are plenty of unqualified ones scouting for your business, too.
Szala says he never hires solely on price. “I think there are a lot of fly-by-night contractors trying to find jobs outside their trade,” he says. “I don’t like hiring people who don’t know what they’re doing, and I’ve had to deal with a couple of those.”