Money spent on home remodeling and repairs is on track to break records. According to an article in the Wall Street Journal, more than $300 billion will be spent in the United States on home remodeling and repairs this year, beating the 2007 record of $285 billion. Unfortunately, with the rise of work also comes the increased risk of construction defects.
Why The Increase In Remodeling?
There are a variety of reasons for the rise in money spent on remodeling and repairs. First of all, purchasing a home is no simple process. There is a lot of work that needs to be done. To make matters more challenging, there are not many homes on the market right now. The lack in home inventory means bidding wars and other stresses.
Another reason for the increased spending on remodeling and repairs is the simple fact that U.S. homes are getting older. The article cites census data that states that 65% of the homes out there are at least 30 years old. As houses age, they are naturally going to require some repairs, and features that become outdated may need remodeling.
With so much work being called for, it may put a strain on contractors. The most trusted contractors are being booked months in advance, causing many homeowners to turn to less experienced contractors. Furthermore, there is a risk of contractors cutting corners or rushing work in order to move on to get to the next job in time. Will the rise in remodeling and repairs be accompanied by a rise in construction defect claims?
Fast Action Is Critical Upon Discovering A Construction Defect
If you discover a construction defect following a remodel or repair of your home, you have the right to seek a timely resolution. An experienced real estate and construction law attorney can help you pursue a construction defect claim in order to request that the defect be resolved or to be compensated for losses.
At the Nialis Law Group, we represent homeowners in remodel and repair construction defect claims involving leaks, structural issues and more.