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Home renovation price shocker

Posted by Scott Van Voorhis February 14, 2014 10:23 AM

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Good luck to homeowners who still think they can renovate on the cheap.

Residential and commercial contractors across the country are now more likely to walk away from a job than give in to demands to slash prices, remodeling magazine reports.

Just a little over a quarter of contractors reported dropping prices in 2013 to win work, according to an L.E.K. Consulting survey cited by remodeling.

That's compared to 44 percent of contractors who back in 2010 reported giving on price in order to get work.

And instead of taking every job that comes along, contractors say they are getting pickier, holding out for a smaller number of better paid projects, the survey finds.

There's apparently more than enough work out there once again. And that "renewed optimism" is making contractors tougher when it comes time to haggling over price, according to L.E.K.

"They are becoming more aggressive during price negotiations and walking away from jobs that don't provide attractive margins," the firm found in its survey of 550 contractors across the country.

Are you renovating your home or thinking of fixing it up? What kind of prices are you being quoted? Any tough contractors in your life?

This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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