The positive side of the big slump: Finding contractors is a snap

January 30, 2008 by Dan  
Filed under Investing

There’s a positive side to everything, right? Sara Lin, a writer for the The Wall Street Journal’s online edition, found something good about the current housing slump: It’s easier, and cheaper, to find contractors to either build a house or renovate one.

You can read Lin’s story here. Basically, she writes that the housing slump has pushed down prices on lumber, drywall, labor and design fees. Carpenters, landscapers and general contractors are no longer busy, and are looking for work. Architects are agreeing to small projects that they would never have considered during the height of the residential housing boom.

Lin writes that some people in the building industry are even advertising their services on construction sites.

It’s a far cry from just two years ago. I remember trying to find a contractor willing to renovate a bathroom in our previous home. Talk about Mission Impossible! It wasn’t a big enough project for most contractors to touch. Those that were slightly interested told me I’d have to wait six to nine months before they’d be available.

We finally did find someone, after several weeks of phone calls, and he did a great job. Today, though, I could probably find a contractor willing to take on a bathroom renovation in just two to three phone calls.

Oh, how times have changed.


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