Balancing Cost and Value for Homeowners

The perfect home is difficult to find, which is why homeowners often do renovations to make their dreams a reality. As a contractor, you’ve probably walked through a home and listened to your customers’ dream projects. However, when they hear the estimate, reality sets in, and the objections start. What can you do in this situation to resolve these concerns and close the deal? Here are some things to consider to help shift the focus from the project’s cost to the long-term value.

A Home is an Investment

A home may be the most significant investment a person makes in their lifetime. Growing that investment often includes proper renovations and repairs over time, for both safety and aesthetics. When it comes to safety, homeowners need to upkeep things like the roof. But when homeowners invest in the aesthetic with projects like updated bathrooms or kitchens, it can increase the home’s overall value. Spending the money now can improve the resale value later and help avoid additional problems down the road.

Lean into your Experience

It’s very normal for customers to have additional questions and concerns when they hear the price of a home improvement project. However, their concerns can be common amongst many homeowners. Understanding these common concerns can help you have an honest and complete answer prepared for them. Preparing for difficult questions or objections can help you sound confident, experienced, and trustworthy. This simple preparation can help you as a contractor explain to a homeowner the value of their dream home improvement.

Offer Financing Early and Often

Don’t hesitate to bring up financing options. With financing becoming common practice, homeowners will expect financing options for their home improvement project. Mentioning this early and often can put your customers’ minds at ease right from the start. Working with a trusted lender like Medallion Bank can help you overcome early objections and shift the focus from cost to long-term value. We offer a wide array of financing options to ensure your customers have the convenience, flexibility, and support they need to create the home of their dreams.