PORTLAND, Ore., Oct. 7, 2019 /PRNewswire/ -- With talk of recession looming, homeowners are re-evaluating home renovation projects in light of an uncertain economy.
While homeowners tend to pull back on luxury upgrades when times get tougher, improvements that fall into the "must-do" category with a longer-term return on the investment are more recession-resistant, according to the Metal Roofing Alliance (MRA), an industry trade group that tracks consumer metal roofing demand trends.
"When news of a downturn hits, homeowners start prioritizing value and those home improvements that have maximum impact over the long haul," said Renee Ramey, MRA executive director.
To help weather economic uncertainty, MRA offers three recession-resistant home improvement practices to keep in mind:
1) Up the ante on efficiency
Better efficiency equals big-time savings over the long run. Keep in mind that if you need a new roof, research indicates homeowners can save up to 40 percent on annual energy costs, simply by choosing quality material and ensuring proper installation practices.
"For big projects like re-roofing, spending a little extra initially to increase efficiency is a smart investment that will make a real difference over time," said Ramey.
2) Think long-term
While tempting, selecting the cheapest bid can be more expensive long-term. For example, choosing a 15-year asphalt roof, instead of a metal roof designed to last 50-plus years, could mean having to replace it three times instead of just once.
Maintenance costs should factor in when budgeting for any large-scale project. Select materials that reduce maintenance costs or even allow for DIY maintenance vs. having to hire a professional can also help save on ongoing expenses.
3) Guard against threats to shield investments
According to U.S. News & World Report, in 2016-2017, spending on disaster repairs exceeded $27 billion in the U.S., as compared to $14 billion in 1996-1997. In some areas, insurance coverage for specific natural disasters also is rising in costs, if it's even available at all. The best defense is a good offense. Make informed decisions about home improvement projects that can help guard against potential regional threats before they strike.
"A home's roof can play a significant role in whether a home survives relatively unscathed during a natural disaster," said Ramey. "Protect yourself and your investment by installing the best quality roof you can afford."
For more information, visit www.metalroofing.com
SOURCE Metal Roofing Alliance