Americans are expected to spend about $350 billion on home improvements in 2019, according to the Joint Center for Housing Studies of Harvard University. Taking on a renovation project requires planning, budgeting and hiring contractors. Online marketplaces can provide assistance with those tasks.
Remodelmate, a District-based real estate tech company in business since 2016, offers online quotes for homeowners for contractor services. Homeowners enter basic information for their project and receive quotes from contractors who have been vetted with customer reviews and background checks by Remodelmate.
In recent months, Remodelmate has partnered with other online services for additional customer support. Customers can now apply for financing directly on the Remodelmate site with SoFi, a national financial services company, to pay for their home renovation. SoFi offers personal loans for home improvements up to $100,000.
In addition, Remodelmate partners with Havenly, an online interior design service, to provide kitchen renovation design to homeowners in the Washington region. Customers can pick the design. The rest of the project, such as ordering materials, logistics, permits, installation and payment, can be handled through the Remodelmate site.
The licensed and insured contractors on Remodelmate list pre-negotiated labor rates for renovation projects such as kitchens, bathrooms, roofing, siding, doors, floors and windows.
Remodelmate charges 20 percent of the project cost to contractors for using the service. The service is free for consumers if they self-manage their project. In addition, consumers can opt for Remodelmate’s concierge service and be matched with a contractor and work with a project manager for the entire project for a fee of 10 percent of the total cost of the project.