Is home remodeling a good career?
Let’s face it; we’ve all seen those house flipping shows. Some people may feel so inspired by the programs that they consider turning home remodeling into a full-time career. After all, it’s a surefire way to make a lot of money, right?
Well, not exactly. While remodeling and flipping houses can be an extremely lucrative career, there’s a lot that goes into it. In this article, we’ll dive deep into what it takes to have a successful career in home remodeling so that you can determine if it will be a viable – and profitable – career option for you.
Understanding the legal requirements
Before you think about reaching for your power tools and paint buckets, you’ll need to understand the proper licensing you need to renovate residential properties.
The type of license you’ll need is a home improvement contractor’s license. Each state has its requirements for getting licensed. For example, if you live in Missouri, you’ll need to research the eligibility requirements for a Missouri contractor’s license.
Your state may also require you to have a specific type of insurance and worker’s compensation contract before you start working and hiring subcontractors.
Once you get your license, you can start working on residential properties. Having your license will also give you more credibility when trying to obtain your first few clients.
What does the job demand?
While the idea of remodeling a house may seem exciting, it’s no walk in the park. The job demands a wide variety of skills that can be both mentally and physically draining. That said, it’s paradise if you’re someone who likes to get hands-on with your work.
In short, the job requires someone who can:
- Install kitchen cabinets
- Replace windows/doors
- Create structures from wood
- Repair/replace roofs
- Coordinate staff and laborers
- Do safe demolition work
Of course, if you act as the general contractor, you won’t have to do all the manual labor. In that case, you’ll need connections in the construction, plumbing, and electrical fields and know how to make the right call and collect bids.
Dealing with clients
Another side of the business is dealing with your clients. For some, this may be easy if you’re good with people and know how to communicate. However, clients may be a bit on edge since you’re working on their homes. Considering the average cost of a remodeling project starts at $15,000, it’s justifiable.
So, you’ll need to ensure you handle the customer service side of your business with extreme care.
Having clear communication is always best when remodeling someone’s home. Nobody likes to be out of the loop, so you’ll need to practice active listening and respond to queries right away.
If you aren’t the best at dealing with people and customer service, perhaps it would be a good idea to partner with someone who is.
Hidden costs are unavoidable
Before each project, your clients will give you a budget, and chances are they won’t be too happy if you need more money. However, budgets tend to be extremely difficult to maintain. Remodeling projects almost always have hidden costs that require more money, time, and resources.
Whether it’s more materials, dealing with asbestos, on-site mistakes, or poor logistics, something will arise requiring a budget increase. In that case, you’ll need to inform clients of these variables prior. Otherwise, they won’t be too happy.
Could home remodeling be a good career for you?
No doubt, remodeling houses can be an exciting and lucrative career path. However, it’s vital you understand everything that goes into the job before making a complete transition. Once you master your first few houses, you’ll have the experience and mental toughness the job requires.