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What Is Involved In a Buyer’s Market

 


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Bill Lutz is an electrician with Generation 3 Electric in Philadelphia. Here he says that the market for home repair and improvement is grinding to a halt with the recession. As a customer, your importance has risen dramatically.

It is a buyer’s market for home repair and improvement. Business owners are scrambling to find the best offers that they give to their customers. Are you fortunate enough to have one of those recession-proof jobs or a reserve of savings? Now is the perfect time to realize your dream kitchen, build an addition or update your house wiring. You can feel good because your home project could help keep someone else employed and it can put food on someone’s table.

New dangers for homeowners

But be aware that new dangers are out there for homeowners. With a lot of layoffs that are occurring, there have been an influx of new contracting companies. Some business cards are made and you have a new electrician, plumber or contractor. But many of these businesses are started by people who should not be running a business.

Hiring a new contractor can lead to disastrous results. Who will honor a guarantee after the job is done? Chances are this new business will not be around next year. The price may be cheap but that is because you are dealing with a company that is not properly insured ( if someone gets hurt and the contractor doesn’t have insurance, the lawyer will go after you). What if some new electricians do something that causes a fire? Will you be able to find them? Not if they went out of business.

Price is not the only factor

Don’t just look at their price when you deal with a contracting company. I think homeowners can do better if they ask for a little extra instead of just trying to cut prices. While you have the electrician changing your 100 amp service, ask him if he minds cleaning the gutters. After all, most companies have workers who don’t want to be jobless. If you understand the motivation of a professional company, you can definitely get more bang for your buck. ?

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