The pandemic has wreaked havoc on a plethora of areas, one of which answers the question: to remodel or not remodel? If you’re thinking about remodeling before you list your property, the answer is a resounding NO! The pandemic set off a surge in home-improvement projects at the worst possible time and many companies are still struggling to keep up with backlogs of projects.
Time Delays
Almost half of all home improvement plans in the US have been delayed due to supply shortages and skyrocketing material costs, according to data from market research firm, Cardify.ai, a company that uses transactional data to generate reports on consumer spending.
Steve Cunningham the CEO of Cunningham Contracting and the chair of the National Association of Home Builders’ (NAHB) Remodelers Council said his projects are being delayed by months due to the limited availability of materials, as well as laborers. Data from the NAHB Remodeling Market Index indicates that, on average, home improvement projects are facing 1-2 months of delays.
Government Delays
Many builders and remodeling companies are facing delays from the very beginning of a project. Why? Government agencies have been slow to give out the necessary home-building permits, adding weeks to the waiting process.
The delays are attributes of the large number of permits governing agencies must approve. Most, if not all, cities and towns have seen increased trouble getting projects approved.
Supply Delays
Supply shortages have been unpredictable in recent months. A run of the mill kitchen remodel, for example, can be held up when the appliances don’t arrive. Contractors currently expect to wait an extra month, minimum, for appliances to be delivered due to shipping delays and the global computer chip shortage
Kitchen appliances aren’t the only things impacted; paint and siding have been heavily impacted while skyrocketing lumber prices are one of the biggest hurdles home-building and improvement companies are struggling to overcome.
In Conclusion
The Lowcountry continues to be in-demand with many homes fetching above list price and going under contract hours, not days. If you’re thinking of selling, let the location, not a new kitchen, increase your ROI.
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FAQs.
Is Hilton Head a wealthy area?
The per capita income in Hilton Head Island in 2018 was $56,942, which is wealthy relative to South Carolina and the nation. This equates to an annual income of $227,768 for a family of four. However, Hilton Head Island contains both very wealthy and poor people as well.
Is Hilton Head a good place to retire?
No question Hilton Head is one of the best places to retire, with gated communities, beachfront villas, and luxury homes to choose from, but it’s far more than a retirement community beneath a beautifully-preserved tree canopy. It’s also a world-class golf destination, a biker’s paradise, and a beach comber’s dream. Apr 30, 2020
Is Hilton Head an expensive place to live?
Hilton Head’s cost of living is the highest in state, according to the annual cost-of-living index developed by the Council for Community and Economic Research and compiled by the S.C. Department of Commerce
How much does it cost to live in Hilton Head Plantation?
Nearly 4,000 acres of fantastic homes, recreational opportunities and amenities, and ample opportunity to find a place to call home is why Hilton Head Plantation may be the best place for you and your family.
One-time transfer fee: 1/4 of 1% of sale price (capped at $6288.40)
Improved: $1,276 / year
Unimproved: $766 / year
What is Hilton Head Island known for?
Hilton Head Island is justifiably famous for its incredible beaches and its world-class golf courses. It’s regularly voted one of the best vacation destinations in the world.
Is it better to live in Hilton Head or Bluffton?
Is Bluffton SC a good place to live?
How far is Bluffton SC from the ocean?
Is Bluffton a good place to retire?
What is it like to live in Bluffton?
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Hilton Head Island, SC
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Bluffton, SC
