This is not the time for most to be considering remodeling their kitchen. However, while many of our lives are stalled and we are looking forward to better times. While the declining stock market can actually make remodeling a kitchen a good business decision, here are some things to think about.
Financial uncertainty, such as the declining stock market can lower the number of homeowners looking to renovate their kitchens. But these are the best times to be borrowing the money needed to do major renovations such as kitchen remodels.
Just as reacting quickly to health directives can flatten the outbreak curve and allow our healthcare system to deal with the pandemic, reacting quickly once the health crisis has subsided can make expensive kitchen renovations inexpensive or free.
Interest rates have plummeted due to the havoc created by the Coronavirus COVID-19 and falling oil prices. Refinancing a home at lower interest rates will allow many homeowners to reduce their monthly mortgage payment while also being able to withdraw enough money to pay for a kitchen renovation.
It is the uncertain times that create the opportunity to get such great financing. Sitting on the sidelines too long when you have a kitchen renovation you are contemplating would miss the opportunity.
Hoping our customers can stay safe during this stressful time, and once it IS safe, that they don’t miss an opportunity that happens only once every ten or so years.
Paul, Julie, Ed, Chris, Lauren, John, Tom and Stacia
Main Line Kitchen Design