Should I continue my home makeover in the midst of a pandemic?
March is a seasonable time for home makeovers, and spring is right around the corner. But now that the pandemic is damaging the stock market and potentially putting the whole globe at a recession, it’s fair to take multiple steps back and assess if a renovation project is what’s best at the moment.
So should you proceed?
It honestly depends on the variables you’re faced with.
Homeowners who are about to remodel their homes because of current living conditions or massive life events will have to push through regardless, but those who aren’t fire-bent with deadlines may want to re-calculate their timelines during quarantine season.
For this write-up, we’re jotting down the pros and cons of remodeling your home while COVID-19 developments are underway.
For those whose renovation plans are scheduled in the future
Let’s say you’re about to close a great home deal and you’re just about to begin the design and restructuring process of your renovation. Frankly, if your remodeling dates weren’t scheduled any time soon—and by that we mean until the next two months or more—there legitimately is no downside. You’re essentially sitting the pandemic out!
The influx of great deals
It goes without saying that property rates will plunge. We all know how it works, and as far as history is unraveling, the numbers are bound to plunge because we’re all losing money. Closing deals today may be best for many people money-wise. This could be the same for home remodeling companies. There’s a high chance that the team you choose to partner with will have more affordable rates, given today’s global situation. Whether the renovations involve window installations, cabinet repairs, painting services, or what have you, rates may generally be cheaper at a time like this until after imposed quarantine is lifted.
For anyone determined to buy property in the Texas area right now, Houston real estate is promising. Entrepreneurs and first-time homeowners alike can jump at the chance to use the low rate environment as a leeway to bolster their loan size when buying. Of course, this means refinancing mortgages should be more bearable at the moment, too.
And because liquid asset portfolios are presently spiraling, this is obviously also affecting how purchase opportunities are being navigated, as well as the extent of makeovers and remodeling activities people will be taking on.
Things will get better
You don’t need to be a life coach to believe that there is light at the end of the tunnel. If you’re currently at the design stage of your project—which can take about 4 months to half a year—take your time. COVID-19 is morbidly on the rise in the country today, but we’ve seen that many other nations are starting to recover. That said, it’s fair for anyone to believe that this whole pandemic will improve in the coming days. Use this extra time to re-evaluate what products best complement your vision for the long haul.
If you’re just about to start construction in the next weeks
If you’re one who’s spent months of designing and planning your home makeover and are just about ready to dive right into the project, you may want to look at a few angles of the picture you’re dealt with now.
Pro: Early project phases are always easier to maneuver
Good news, buddy! Because your project hasn’t actually started yet, you won’t have to stop a renovation mid-way or have to temporarily bid goodbye to a group of workers who’ve already begun work. In other words, the impact of a failed efficient renovation is low. Every contractor group knows that the initial stages of a project are much faster to harmonize and reconcile. That means if there’s a quarantine or lockdown in Houston, your project is basically just going to be delayed, and your project handler will have an ocean of time to kick-start your project once the skies clear. That being said, you won’t have to deal with the sore of seeing half-baked kitchen remodeling or unfinished patio cover installations. This is technically a positive thing because that means risk is less likely in this situation.
There’s a high chance you’ll have issues with backorder concerns
You spent a whole lot of time going over your furniture, fixtures, and equipment and working on your specs, and now you’re going to have to deal with backorder concerns. Thankfully, the home remodeling team you work with may provide alternatives, but this could mean more work for you.
Vendors and suppliers will have a jumbled availability of items and their selections will vary even more. A few items may take longer to re-stock and shortages now and then should be expected. What’s more, with the instability quarantine and lockdowns will carry, it will be challenging to guess what the next few months and weeks will be like. Your project could be in limbo if you don’t have all the supplies you need at the moment and you decide to push through.
Prices may increase
As a result of scarcity and delivery transportation challenges, your ordered furniture and other supplies may be more expensive because of high demand and fewer workforce.
If you’re in the middle of your project
If you’re either about to begin your renovation or about to finish your design stage, there’s a number of things you should consider before taking multiple drastic steps.
Your project could process much quickly
If you’ve literally started the renovation, chances are higher that the team you partner with will work even faster as the pandemic develops. Because leaving a project undone may be financially challenging to calculate wage-wise, it’s likely workers will double up on the energy to work faster and more efficiently to finish needed work. Architects, engineers, and construction teams will figure out quarantine workarounds and may even have to stay at the home being remodeled at the time being to finish the remodeling process much faster.
There’s a high chance you already have your fitting and fixtures
When you’re already in the middle of your home makeover, all the necessary items and supplies are likely within reach. That means you no longer have to deal with supply chain availability issues.
Your remodeling project will have to be paused
Depending on strict government updates, your renovation will have to wait to be finished, and you’ll have to deal with an unfinished project. Times are criminally unpredictable, and truthfully, we’re all at the mercy of how this pandemic is turning out by the day. That also means drastic government updates on stricter lockdowns could ensue.
And although there are opportunities to mobilize and demobilize a home makeover, these activities come with their own financial and logistical burdens.
You’ll have to pay a heftier price for sanitation and protection
Whether you’re working on a solo-apartment or a house for a family of five, you’ll have to include sanitation measures both for your workers and your home, and this could mean having to shell out more bucks. Depending on the contractor you work with, you’ll also have to factor in injuries and hospital bills of anyone on the team who gets infected or hurt.
Whatever path you choose for yourself, know that we’re going through this and your complete home makeover will see the light of day, regardless. For more questions, clarifications, and spirited conversations about installations, repairs, and major renovations in Houston, contact Home Remedy today!