Renovations seem to go hand in hand with investment properties, whether the purchaser plans to update and resell the home immediately or create their own ideal living space. Either way, they may be wondering how COVID-19 is affecting the renovation business. The good news is that most contractors are continuing to work during this time because they provide an essential service.
Just because they are essential workers doesn’t mean that contractors don’t have to take additional safety precautions, however. Along with following very strict CDC guidelines to protect the health of both their clients and themselves, they are doing as many consultations and home walk-throughs via phone or video chat to avoid an unnecessary face-to-face contact.
For investors planning to live in their property while work is being done, perhaps they may want to question if the project is necessary at this time, or if it is a project that can wait since there are many extra steps everyone has to take inside the home to help lower the risk of infection. Even though homeowners are inside their own space, with workers there it must be treated as a public work area. Therefore, they should still wear a mask, wash their hands frequently, and regularly disinfect countertops, doorknobs, and other high-contact surfaces.
Additionally, just as a client wouldn’t want a sick worker to enter their home, if anyone who lives in their home is feeling ill or exhibiting an potential COVID-19 symptoms, it’s important to tell the contractors not to come into work. This may be frustrating because it could prolong the project, but it’s important to take every precaution necessary.
Whether a client is living in their home during renovating or not, another important thing they should is that they will most likely have to extend their project timelines. Between the extra health and safety precautions workers will have to take, potential sick workers needing time off to quarantine, and longer shipping times for necessary renovation materials, remaining flexible is key.
Currently, the projects that contractors are being hired to complete are COVID-19 related updates. Besides necessary repairs, many clients have been seeking to expand or remodel their home offices. Although a lot of employees will eventually return to an office setting, many businesses are switching to completely online models and a comfortable, useful office space at home is a necessity. Another renovation that has become more and more popular is creating a study room for children who are learning virtually this school year. Having a quiet, organized space where children can complete their homework assignments and store their school supplies is paramount for many parents. Not only does a dedicated school space help students to stay focused and organized, but it can help separate school time from leisure time.
Any investor ready to renovate their property should be prepared to follow strict health and safety guidelines, meet with their contractors virtually for walk-throughs and consultations, and keep a flexible timeline for the project. Then, they will have a more attractive, functional space to live in or sell for a profit.