Home Economics: Shopping tips from the real estate pros

June 17, 2011|By Alan J. Heavens
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  • "The Internet has driven down the prices of just about everything, so there is little variation" when shopping for products, one developer says.
  • "The Internet has driven down the prices of just about everything, so there is little variation" when shopping for products, one developer says.
  • FRED MATAMOROSTacoma News Tribune

The situation: You want to make some improvements to your house, but don't want to spend money you don't have. Nor do you want to waste the money you do have by buying something inappropriate for your needs.

A tall order, for sure, and a situation many homeowners find themselves in as the economy totters toward a recovery that always seems just shy of a sure thing.

The Internet has made finding the best price for a product easier than it was 10 years ago, said developer Carl Dranoff, who has written the checks for more than a few renovations at his buildings over the years.

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"The Internet has driven down the prices of just about everything," he said, "so there is little variation" from, for example, one manufacturer's refrigerator to the next.

Need replacement windows? A modest federal tax credit - up to $1,500 - is available until Dec. 31.

Energy-efficient windows will cut utility bills 7 percent to 15 percent, government data show. But the cost of complete window replacement for the average home is $7,500 to $10,000, according to the folks at the Environmental Protection Agency's Energy Star program.

They advise this: When you're interviewing contractors, ask them to break down the price quote by labor and materials, keeping in mind that although energy-efficient windows cost more, the labor costs for installation should be the same for all kinds of windows.

In general, experienced buyers recommend that you shop carefully, and know exactly what you want before you hand over your credit card or write a check to a supplier.

"A dozen years ago, you might have to go to specialty stores to find the really groovy items," said Center City real estate agent Mark Wade, who also buys and renovates condos for resale. "Today, it is as simple as hitting Lowe's, Target, or Home Depot."

Stores don't stock everything they offer, though. "Go online and see their entire product line," he suggested.

Durability is what developer Liz Solms looks for when she shops for products.

Solms is using sustainable or "green" materials to renovate apartments at Touraine in Center City, one of the buildings she co-owns around the country. She said she measured the value of these products by how long they would last.

"Time is money, right?" she said.

Jay Cipriani, president of Cipriani Builders, a Woodbury remodeling contractor, thinks so.

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