Bargain-basement prices on home renovations are the silver lining of today’s horrible real estate market. According to the National Association of Home Builders, contractors’ bids are coming in at 10 percent to 40 percent below what they were during the housing boom. And smart consumers have apparently taken notice.
An American Express survey found 62 percent of homeowners planned a home improvement project for 2010. They focused on do-it-yourself, or DIY, projects, like indoor cosmetic work, and planned to spend an average of $6,200.