Duane Duggan's Real Estate Blog

With favorable weather conditions and an easing up on the demands of everyday life, summer is a popular time for homeowners to embark on a renovation project. With the plethora of information available from do-it-yourself websites, television programs and magazines, you might even be tempted to take on a home improvement project yourself, depending on the scope of your plans.

Consider the following important tips from author and remodeling expert Dan Fritschen when considering a summer renovation project:

• Figure out if your project is worth it. It’s never a good idea to start a project—big or small—without having an accurate idea of how much it will cost. Especially in today’s economic environment, it’s crucial to consider where home values are right now. Will your proposed remodel add enough value to your property to offset the cost? Fortunately, thanks to technology, you can get remodel cost estimates instantly.

• Look for deals. While the economy is slowly getting better, it’s nowhere near the remodeling heyday of 2007, so contractors and retailers are working hard to win your business, says Fritschen. You may be able to find discounts of 10 percent or more on many materials and appliances for your remodel. Plus, even though summer is a busy season, many contractors are bidding their best prices in an attempt to get back to the business levels they had prior to the economic slow-down.

• Consider saving money and power. If you’ve been considering adding solar panels to your home, now’s the time. According to Fritschen, solar panels are currently available at great prices—as little as $1 per watt for 200-watt panels—so for $2,000 you can buy panels that can generate 2 kw of power during peak sunshine periods (like summer).

• Tackle a winter-centric project. Summer is the perfect time to take on a winter-oriented renovation, such as replacing a furnace, adding insulation, or installing more efficient windows or siding. Most homeowners aren’t focused on these types of projects during the summer, so you’ll have a better chance to get a good deal and to schedule the work at your preferred time.

• Consider the timing. If it turns out that this summer is not the best time to start your renovation project, you should still start preparing for it, says Fritschen. Keep an eye out for sales on the materials you need. If you start buying and storing bath and kitchen fixtures, windows, and tile now—that you bought on sale, for example—you can significantly cut down on the cost of the overall project.

Duane Duggan, duaneduggan@bolderco.com, 303.441.5611