Purchase a Deck in a Down Economy?
Although some politicians aren’t willing to admit it, we are in what most would consider a recession. Our instincts tell us to tighten up our spending habits and only purchase the necessary things to survive through the hard times because you never know how long they’re going to last. That philosophy makes perfect sense if you’re on a tight budget with no extra money set aside for home improvements or other major purchases. However, some are fortunate enough to have been able to save some money and are wondering if now’s a good time to buy a new deck, screened porch, pergola or other home addition. The answer is definitely yes and the reasons are simple.
The most glaring reason is price. With the economic strain on deck builders, retail stores, distributorships and even lumber mills, the purchase price of a deck or other outdoor living area is considerably lower than in a healthy economy. This can be good or bad depending on the deck builder you hire. You should always make sure to do proper background checks and qualification research when hiring any contractor at anytime. This is even more important in a poor economy.
Desperate times call for desperate measures. When times get tough, those who face financial peril will do almost anything to earn a buck and survive. With work more scarce, tradesmen expand the scope of work they’re willing to do. This means you have painters, landscapers, masons, and many more unqualified persons attempting to build decks, pergolas and even screened porches. These inexperienced persons are unfamiliar with today’s constantly changing building codes and the sometimes complex interpretation of them.
They also have little or no experience costing and bidding such projects. They tend to quote well below market value in order to win a job. You might be saying, “Great, I’m getting a steal by taking advantage of our down economy.” Be very leery of any deck builder’s price that is significantly lower than its competitors. You should always get at least three bids before hiring a deck contractor. Let’s say you receive three bids. Two are somewhat close in price and the third is far lower than the other two. Odds are the third is too good to be true. Don’t ever choose a deck builder for their price versus credentials, references and photos of work.
About once or twice a week, we get a call from a homeowner wanting us to come and evaluate the work another deck builder has started. It’s for good reason the homeowner is suspicious of the craftsmanship and construction methods being performed. It’s usually not positive feedback we have to give. Someone who’s never worked with composite decking, tropical hardwoods or aluminum railing systems can do more harm than good. Most of the time, we end up tearing out all of the previous deck builder’s work and starting from scratch. This costs the customer more for labor. The materials can rarely be salvaged. As the saying goes, “You can’t put lipstick on a pig.”
However, If you do the proper research (see “Hiring a Deck Contractor” – http://dwdecks.com/blog/?p=93), you should be able to get a high quality deck at a very fair price. Even the best deck builders in Kansas City and other areas have an overhead, employees, and their own families to feed. Therefore, they will adapt and adjust to what the market permits. However, they may able to discount your deck, screened porch or pergola by using their industry weight to leverage vendors out of discount pricing, loyalty incentive programs and bulk purchasing agreements. The amateur deck builder has no such options available because they have little or no relationship history within the deck industry.
There’s a reason why they’re the two most commonly used clichés in the consumer marketplace:
“You get what you pay for.”
And
“If it seems too good to be true, it probably is.”
A deck has the highest return value of any home improvement project. (see “A Kansas City Deck is a Wise Investment” – http://dwdecks.com/blog/?cat=255)
Believe it or not, the housing market and overall U.S. economy will both begin to recover in the near future. As the value of your house rises, so will the value of your deck since it is considered a part of the house. Therefore, the deck purchased in a bear market produces a return on investment when a bull market arrives. Most people know to buy stocks when they’re low and sell when they’re high. The same concept holds true with real estate, a house and in turn, a deck.
Hope this helps,
Dan Milford (DW Elite Decks - Kansas City deck builder)
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Not only will you get better deals in a down economy, you will recoupe 75+ percent of what you spend when you go to sell your house. This is one of the 3-4 things homeowners can do to increase the value of their home.
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