Remodeling Costs Drop With Housing Downturn
It may not be the best time to sell a house in much of the country; but increasingly, it’s a good time to build or renovate one. The housing slump has pushed down prices on everything from lumber and drywall to labor and architectural fees. Legions of carpenters, tile layers and landscapers are idle. Architects are taking on small renovation projects they once would have sniffed at and contractors are offering their services at a discount. Some people in the building trades are even posting fliers at construction sites to drum up business. Now, some homeowners are moving forward on renovation or building projects they’ve put off for years. Others are exacting substantial price cuts from contractors desperate for work.
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