It wasn’t that long ago that million-dollar homes kept Michael Daniel and his company, Legacy Design Build Remodeling, fairly busy. However, the market for luxury home remodeling is slowing, and attitudes toward spending disposable income are changing. Still, that doesn’t mean the industry is disappearing.
For Legacy Design Build Remodeling, a company known for its million-dollar projects, the game has changed with significantly fewer high-end requests. Legacy Design Build Remodeling, however, has adapted its business model and is moving forward.
With the market more competitive than ever and trade suppliers reducing their prices to stay in business — in turn lowering the costs of remodeling projects — Legacy Design Build Remodeling is putting the budgets of its clients first and then adjusting the project accordingly.
“Two years ago, clients put more thought into what they wanted, figured out everything they wanted to do, and then figured out the cost,” says Daniel, president of Legacy Design Build Remodeling. “Now, the cost comes first. Clients won’t make the sacrifice, and we have to present a more basic, budget-minded, targeted project.”
Although there are fewer million-dollar remodeling projects, Legacy Design Build Remodeling continues to receive a growing number of requests for smaller, more budget-minded jobs, especially kitchens and bathrooms.
“Clients say, ‘Take what I have, and do what you can for less,’ ” Daniel says. “No one is nearly as willing to break down walls or make additions.”
But this doesn’t faze Daniel and his business. He takes pride in these smaller projects, some of which have won local and regional awards, including four National Association of the Remodeling Industry’s Contractor of the Year awards.
“We are more proud of the smaller projects because more creativity, design and thought goes behind them,” Daniel says. “… we want to emphasize that our projects range from $5,000 to million-dollar projects; we aren’t just a high-end company that will only take on the more expensive renovations.”
For more information about Legacy Design Build Remodeling, visit legacyaz.com or call (480) 991.1993.