Contrary to popular belief, now is not only the best time to buy and sell homes, but it’s also the best time to do home improvements and repairs. The cost of building and remodelling materials and even contractor’s fees are dropping along with the prices of homes.

Since consumers are more wary of spending, they hold off major home improvements and repairs until they feel more confident about the economy.Home improvement spending has gone down by 12% this year, Meaning contractors and suppliers are hungry for business.This works to the advantage of homeowners – they can haggle for lower prices on materials and even services plus they a much wider selection of highly skilled, available contractors to choose from.

Homeowners can expect a minimum savings of 10% on renovations. Building and materials such as asphalt, lumber, and insulation are expected to continue going down in the coming months, meaning it’s also the best time to do repairs and replacements not just inside the home but outside as well. It would be a great idea to start replacing your roof or make some improvements on the driveway, or even enlarge your deck.

Consumers can choose projects with above average returns which can give them extra profits in the long run. For instance you could have new windows installed for $10,000-$20,000 with a 75%-80% return on investment. On top of that, the new windows could make your home energy-efficient, meaning extra savings on your heating and cooling bill.