Homeowners are ready to jump back into remodeling projects and home repairs this year according to a new survey of Angie’s List members.
Angie’s List members say they plan to invest an average of $17,500 on home improvements. Specifically:
- 59 percent want to update or improve their home
- 22 percent plan to make repairs
- 9 percent are looking to increase the resale value of their homes
offered big discounts in 2009 and in 2010, but many homeowners held back for economic reasons. But now members say they’re ready to spend.
- 90% of homeowners surveyed say they plan to spend, on average, 5 percent of their homes’ value making improvements and repairs.
- More than 50% of contractors who offer discounts said they would discount up to 10 percent, but nearly a quarter of others would cut up to 20 percent.
Take advantage now though. As demand increases, contractors are going to pull back on discounts. If you plan to remodel this year, don’t put it off. Not only are you risking your discount opportunity, you might find the best contractors in town are too busy to get to you.
You should never hire on price alone, but it’s definitely a factor in the hiring decision.