How Do Difficult Economic Times Affect My Remodeling Project?

The economy fluctuates from year to year due to many different factors: weather, national instability, international relations, large-scale illness, shortages, and other issues. 

In 2023, we face difficult economic times, affecting many aspects of our lives. Due to financial constraints, you may be rethinking your remodeling and building goals this year. However, 2023 might be the perfect time to complete your Nashville home remodeling project! Keep reading for more information.

Should I Remodel My Nashville Home During A Recession? 

The answer may surprise you!

Historically speaking, seasons of recession can be relatively good times to make home renovations because:

  • There is often less competition for contractors and materials 
  • You will be stimulating the economy
  • Depending on the improvements you’re having done, you can add significant value to your home when it’s time to sell. 

What Are Some Cost-Effective Ways To Manage My Renovation Plans During An Economic Downturn?

If you do choose to move ahead with your building or remodeling project, there are some cost-effective ways you can manage your plans during a challenging economic period:

  • Unless you’ve got loads of skill and time to spend on your project, handle your demolition on the front end or do some of the finish work yourself on the back end. 
  • Use manufacturers’ off–the–shelf dimensions from the start, and you will save on expensive custom fabrications.
  • If you can reorganize and equip your space for maximum utility, you may not need to tear out the walls to gain square footage. Replace shelving with cabinet-height pullout drawers that contain racks for canned goods, hygiene items, and other items.

At Ascension General Contractors, we want to be your “go-to” renovation and repair partners! We pride ourselves on our work’s quality and communication through your claim, repair, or remodel process.

Contact us at Ascension General Contractors to discuss how we can help you complete your Nashville home renovation project. Our team can guide you through your residential and commercial improvements to make educated decisions that best fit your needs.

You can learn more about our projects and what our previous clients say about us by visiting our website.

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