There’s not really a wrong time to remodel a house—after all, who doesn’t want to improve the comfort and convenience of their daily life? Yet, the timing of the project can influence the budget, schedule, and outcome of the project in various ways.
With the novel coronavirus pandemic ongoing, many homeowners in the Twin Cities may be wondering if remodeling with a virus pulsing through the population is a prudent decision. With lifestyles changing drastically, however, and families spending more time at their homes in the Western Suburbs, now is exactly the right time to think about how your space could be improved to better suit your evolving needs.
When Should I Remodel?
Only you know your financial situation, along with your family’s daily routines and how your current living situation is working out for you. If you are hesitant about starting a remodel during COVID-19, here are a few reasons why now might actually be the best time to start a new home improvement project:
Family Lifestyles are Changing
Family life has gone through a real transformation this year, thanks to the public health crisis. One of the benefits of staying home during lockdown is that you no doubt got closer than ever with your space and how it functions. There’s nothing like being in the prolonged presence of your house to identify the parts of it that could be improved upon.
You may still be partially or primarily working remotely, which means you might want to renovate an existing space to turn it into a basement home office or build an addition for that type of use. Additionally, most school districts in Hennepin County are starting with a hybrid model that includes both online and on-site instruction. The expectation that your kids will at least partially be schooling from home for several months is one more reason to think about retrofitting various areas to serve new purposes.
Finally, from a broader perspective, multigenerational living continues to be on the rise in both rural and urban areas across the country because of the financial and emotional benefits. As the housing supply becomes more strained and an increasing number of young adults and seniors seek affordable situations, homeowners will look for ways to make their property more conducive to multigenerational living. If anything, COVID-19 has further illuminated the value of building a home addition or accessory dwelling unit (ADU) that is suitable for your family members and guests of various ages.
Interest Rates are Down
One way to figure out if now is a good time to remodel is to consider the financial aspect of the project. Remodeling your home in the Western Suburbs is going to be a substantial investment, no matter when you do it. However, there are certain variables that can alter your costs vs. benefits. For example, over the past several months, the Federal Reserve has taken several measures to protect and stabilize the economy in light of the COVID-19 pandemic. As a result, there’s a good chance you can find lower interest rates not only on mortgages but also home equity lines of credit (HELOC), which are a common way to finance a home improvement project.
If you’re interested in remodeling your home in the Western Suburbs of the Twin Cities, you might consider refinancing your home while the federal funds rate hovers near zero or establish a HELOC to get the job done.
Time is Less of an Issue
Whether we like it or not, most of us currently have more time on our hands. While that can be challenging in some ways, it also has its upsides. Now is your chance to do all the things you always said you would do if you had more time, and home improvement is likely on that list. Since families are scheduling fewer vacations and mostly laying low, there is little to stop them from taking on a long-overdue remodeling project.
If that’s you, then now is definitely the best time to remodel. Take advantage of your extra time and more flexible schedule to start planning your residential renovation and setting the wheels in motion. Looking back, you’ll feel relieved you got the project done while you could, freeing up your future for all the other things you’ve had to put on hold this year.
Remodelers Have Implemented Safety Protocols
Understandably, you may be worried about starting an interactive project that involves people coming into your home during a pandemic. Rest assured, however, that most remodeling companies and home builders are taking a variety of precautions to promote the health and safety of their crews and clients, from staging Zoom meetings instead of doing in-person consultations to increasing job-site protocols.
You can expect everyone—including your project manager, construction crew, and their trade partners—to be wearing masks while working at your house. Other safety measures that many remodelers are enacting include enforcing social-distancing guidelines when possible; limiting the number of crew members and subcontractors allowed on site one time; and blocking off the work areas as they’re able to.
This isn’t exactly a new challenge for general contractors in the Western Suburbs. They make it a habit to prioritize health and safety in the process of remodeling houses. The pandemic has simply required them to take a more rigorous approach to give you peace of mind. They understand homeowners may have a wide array of concerns, as well as general opinions about the virus. In response, they’ll do what they can to meet you where you’re at and help you feel comfortable with the process.
Is it a Good Time to Remodel Your Home in Minneapolis-St. Paul?
Although it’s a completely personal decision to remodel your home in the Western Suburbs of the Twin Cities, you shouldn’t let COVID-19 influence you to put off for tomorrow what you could get done today. Now just might be the time you’ve been looking for to slow down, take a good look at your home, determine how your needs have changed, and remodel your space to get you ready for the next phase of your life. At Black Dog Homes, we have a diverse team of skilled professionals to help you design a custom home renovation in the Twin Cities area and get it done from start to finish.
Sources
“Remodeling during COVID-19? Tips for keeping your home safe.” The Seattle Times. Accessed online at https://www.seattletimes.com/explore/at-home/remodeling-during-covid-19-tips-for-keeping-your-home-safe/
“Home remodeling projects continue during the pandemic, with a few key differences.” Star-Tribune. Accessed online https://www.startribune.com/home-remodeling-during-the-pandemic/569726312/
“What Coronavirus Means for Mortgage Rates and Your Home Loan.” NerdWallet. Accessed online at https://www.nerdwallet.com/blog/mortgages/what-coronavirus-means-for-your-home-loan-and-mortgage-rates/
