It’s no secret that in 2022, it’s a seller’s market and new home owners are fighting to get their foot in the door. Getting into a new home may seem harder than ever for the younger generation. Meanwhile, current and existing owners are choosing to remain and reinvest in their current homes. Home improvement projects saw a dramatic increase during the peak of Covid-19. Others, who were able to, saved with the intent of a purchase down the road. If you’re one of the lucky few who has resolved to purchase a new home, congratulations. This is a big step and for that reason, we would like to supply with information that will be valuable no matter what contractor you go with.
Timing and Project Duration
The first thing you might wonder about any work getting done on your home is how long it will take. Although we can’t tell you exactly how long each project might take, we can provide some estimates. On average, you can expect a roofing job to take 1-2 weeks to begin and 1-2 days to complete. A siding job will take about 4-6 weeks for the material to come in and another 5-6 days to install. Windows will take the longest on average to get the supplies at 16 weeks (or 4 months) but only 1-2 days to install.
Materials and Supply Shortage
There are many industries currently impacted by the supply chain shortage. Construction and remodeling are two such industries and chances are that you’ve heard things like the cost of plywood increasing dramatically. The shortage will affect your project to some extent, but not as badly as you may fear. The biggest drawback is the lack of color options. For example, before you may have been able to choose between 15 color options for your siding where as now you may only be able to choose between 8. Now, if you are interested in one of these unavailable color options, you may choose to wait until they become available. This will not cost more, but you will have to wait longer for your project to begin. Otherwise, you should not see any other hold ups or price hikes within your project.
Project Cost and Financing Options
Cost is a difficult subject to approach because there are so many variables at play. The size of your home, the product, style, and color you choose all determine the project’s end price. On average: a roof will cost around $14k, siding will be around $22k, and windows will be between $13-14k. These are prices that you can use as a baseline understanding as you shop around for contractors.
Regardless, these are all high ticket items and as such, may be an intimidating purchase. Luckily, 0% financing options are available to all new home owners on almost every job. The only thing you will have to do is pass a credit check to qualify.
Energy Efficient Solutions
Purchasing a home is an investment designed to accumulate value over time. You can build on that value with renovation projects, but there are technology driven investments within those projects that you may wish to consider. Having an eco-friendly home has its own rewards, which can include a monetary incentive in addition to moral incentive.
One such example would be Provia Siding with a foam fit insulation. This uses a layer of foam to insulate your home as well as seal off possible leaks. You can see this at play in the winter time when cold air would normally be able to slip in through tiny crevices like door frames, light switches, or power outlets. Thus requiring you to turn the heat higher to warm your home appropriately.
Another example of an energy efficient renovation would be soffit and a ridge vent installed with your roof. Soffits allow for airflow on the ridge of your roof that funnels upward, while the ridge vent (installed at the peak of the roof’s slope) allows this hot air to escape from the highest point of your home. This drastically cools your attic, and by extent, the upper levels of your home. With less hot air built up, your AC unit puts in much less work to cool your home.
Becoming new home owners can be an intimidating experience. Maybe you spent more on a prebuilt house, or maybe like many other people you bought a fixer-upper at a reasonable price. Either way, it is important to educate yourself on these subjects before going headfirst into another purchasing decision.
If you have any questions or would like to speak to one of our certified experts, contact us today!
