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Are You Eager for That Home Remodel? Stephan Sardone Says You Need to Get in Line

  • June 21, 2022

That headline may sound rough, but it’s the reality. Stephan Sardone of Sardone | McLain broke it down for us recently and offered some sage advice for those of you contemplating a remodel this year.

What don’t people understand about the state of the remodeling industry right now?

Stephan Sardone: We did not just press pause when we went into lockdown. We stopped. The suppliers went home. The workers went home. Multiple businesses associated with just getting lumber to retail outlets like Home Depot faltered. That has resulted in things taking much longer than they used to and price increases across the board.

Homes have appreciated a lot since the start of the pandemic. Does that figure into the remodeling equation?

SS: Homes have appreciated, but it’s not realistic to do a remodel, regardless of equity, and expect to break even when the remodel is finished. You don’t remodel to sell because you won’t get your money back quickly. You remodel to enjoy your home.

Why are people so keen to remodel right now?

SS: All the usual reasons. There is very little real estate available, so people are staying put, and they want their homes to be more accommodating and have better floor plans. They like their neighborhoods, and they are locked into the schools. Even if they can find a house and move, they will still have to remodel, so they are staying put.

What are the biggest misconceptions about remodeling in 2022?

SS: The numbers are so much bigger than people think. They may have made a lot over the past two years, but now they have to spend a lot. However, I don’t advise waiting. It will only get more expensive. If you look at the market, this is a long-overdue correction. Pricing will

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