Home building has seen an upturn in recent years due to the economy’s slow ascent out of the Recession. Financing options and potential buyers made home construction a viable income source for contractors, but 2014 has a downturn in the forecast. As finance charges and interest rates rise, home building is slowly tapering off. This prospect should encourage you to look at other means of income, including remodeling.
Visit Previous Clients
Homes you built several years ago may need some basic updates, such as faucet replacements or even a room addition. For example, a small family of three may have bought a two bedroom home years ago, but they are now expecting twins. Keeping in contact with previous clients allows you to go over new projects when they are sorely needed. Because you already have a strong relationship with the family, they are more inclined to hire you as a contractor.
Check on your past protects, they could be great leads for contractors to start new remodel jobs.
More people live into their 90s in this modern world, but homes may not fit elderly needs. Concentrate on remodeling homes to fit elderly lifestyles, such as a ramp on the front porch. Quote a downstairs bathroom retrofit so that loved ones do not need to climb the stairs. Your quote should include all the important bathroom accessories, such as grab bars and taller toilet pedestals. Suggest a permanent stair lift if a bathroom retrofit is not possible. Because you are offering safety for an elderly loved one, friends and family may pitch in to cover the costs to ensure a quality installation. Catering to unique needs keeps your business profitable.
Those abandoned homes need extensive work before they can be sold by the bank. Use your connections at the local bank to talk to home loan professionals. If they have a potential buyer, for example, you can be the first contractor they contact for a major overhaul. From paint to new appliances, banks want the home to look inviting to remove the asset from their books. Banks lose hundreds of dollars when properties remain empty.
Major appliances and structural items, such as windows, need periodic replacement. Customers can continue to fix their 20 year old air conditioning system, but it takes a lot of energy to run on hot days. Suggest a new, energy efficient model instead of a repair. Customers see the benefit of new appliances, but fear the initial price. The key is the energy savings over time. Double pane windows reduce heating and cooling costs while a solar panel installation saves extensive electricity money. Even the government offers financial incentives to encourage energy efficient appliance purchases. Tax incentives and deep discounts make remodeling choices easier for the customer.
A business downturn in the home building sector is not cause for panic. Look over your clientele and turn your attention to remodeling jobs. Because some jobs are relatively fast, you can conceivably handle more clients compared to a full building construction project. Encouraging diversity in your business keeps you afloat and profitable for many years.
Even though a slight downturn is expected, you don’t have to worry. Home Improvement Leads can keep your business on track. We send Home Improvement Leads to you daily to help grow your business. Contact us today!