Do You Know How Much It Costs To Postpone Your Home Addition Project, Hoping The Prices Go Down?
Delaying your home addition and hoping the prices go down never happens. In construction, on the contrary, material and labor costs tend to increase over time. Here are a few potential complete remodel costs to consider:
- Opportunity cost: Delaying the project could result in lost cash or productivity gains if the plan is to rent or use the addition as a home office.
- Disruption of Daily Life: Because it prolongs the period of inconvenience and disturbance.
- Inflation and interest rates: Higher borrowing costs if interest rates rise, and inflation can reduce the purchasing power of your money over time.
Does this make sense to you?