Case Study 105: Don't Be Late. It Is Better Now Than Never

Interior Designer Michael Thomas has been pondering and offers advice if you have been thinking about starting a remodeling project.  Check out this case study to see what Michael views thru his crystal ball of design. 
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Now is the time for all good folks to come to the realization that it may be more difficult to remodel if one waits very long to move forward to do a project.   

Now that concept may seem self-serving but as design professionals, we are seeing significant growth in the remodeling community. That makes us have a few concerns for our existing clients (and those who have yet to be our clients.)  

As a result I have concluded one thing : NOW time to get off the fence and start that project.  Why?  Here are 6 compelling reasons that it time to remodel and not wait any more. 

1. As the market bounces back, the waiting time for the design professional of your choice will increase. And that designer or architect or landscaper may very well be balancing more projects at one time to meet the needs of clients. 

2. Waiting longer also means the most talented builders and subs may not be available when you want them.  We've recently seen clients disappointed when a favorite cabinet man told them to find another shop or wait until summer.  They decided not to wait. 

3. And then consider that longer waiting times increase carrying costs on land (if  building new) and potentially higher lending costs (if self-funding the project).

4. Building material costs will inevitably go up with increased market demand.  And keep in mind manufacturers have closed plants and laid off skilled workers, severely reducing production capacity.  We just ordered hardware for a project that will deliver in 12 weeks.  

5. Keep in mind that waiting times for delivery of materials will increase because of shortages and backlogs at the plants. And that can increase project carrying costs and delay the timeline. Furthermore, many of my colleagues have the time to work with clients to create custom solutions. There will be less time available to do so as the market returns.

6. It is tax time.  And there are a number of items in the tax code that allow for tax breaks and credits. If you update for efficiency, you can get tax relief for new solar panels or certain hot water tanks. There are also deductions for home office improvements and medically necessary changes such as an entry ramp or an accessible bathroom. 

• Tick - tock.   Tick - tock.  So what are you waiting for?  

---