That additional business has long tail impacts to the community, such as adding jobs and building up its economic health. For an individual contractor and their business, there are huge positive impacts as well.

For the homeowner, it can add to the value of the home and their investment in the home. The return on investment is different depending on the project according to the National Association of Realtors, but it all adds to the home equity, valued at $35 trillion in the United States. Some projects that commonly appear in Buildxact that have high returns are listed below, and the payback is based on the association’s calculation of the estimated cost recovery at resale: 

• Basement conversion to living area: 71%
• Attic conversion to living area: 67%
• Complete kitchen renovation: 60%
• Minor kitchen upgrade: 60%
• Bathroom addition: 56%
• New primary suite: 54%
• Bathroom renovation: 50%

 Buildxact’s technology was designed to deflect the negative impacts of the changing market. The platform can continue to drive healthy contractor returns by offering real-time pricing that allows the pro to stay on top of material cost fluctuations from the first estimate through job completion. Plus, technology allows the pro to streamline estimates by using common remodel estimate templates with built-in material, equipment and labor pricing.

Buildxact also allows users to speed up estimates with an AI-powered assembly builder that fast tracks the quick-to-quote process based on thousands of previous builds to help estimate in minutes. The AI-powered assembly builder can generate complete and accurate estimate costings and bids based solely on project specs. That means that Buildxact pros can compete better in a competitive environment—being the first to bid for a client increases the chance of winning the job. 

A recent Harvard Joint Center for Housing Studies report stated that small-to-medium sized residential home builders, remodelers, and contractors, are challenged daily to stay profitable while managing jobs efficiently. According to the report, contractors are challenged by “manual takeoffs, outdated spreadsheets, and disconnected processes that lead to underbidding, project delays, double-handling and cash flow issues.”

 Buildxact’s estimating and job management platform was designed to eliminate guesswork, streamline operations, and help small to medium sized pros win more of the right jobs for them.

 The report from the Harvard Joint Center for Housing Studies identified other market changes, such as remodeling growth from the aging of homes and households, plus the growing needs for energy efficiency and disaster resilience. Spending on disaster repairs increased to $49 billion in 2022–2023, from $16 billion in 2002–2003. In 2023, homeowners spent $139 billion on improvements impacting home energy use, nearly four times the amount in 2003.  With a median age of 44 years in 2023, the housing stock is older than ever, and critical improvements are needed to replace aging components. 

 Additional challenges include the fragmentation of the industry, self-employed contractors, high costs of building materials and labor shortages. 

 “Builders are worried about pricing going up from tariffs and don’t want to quote jobs wrong and lose money,” said Liam Fraser, chief revenue officer at Buildxact. “They want to be able to compete with other builders but are so cautious in today’s market and fear that everything will cost more and damage their business. Buildxact is removing those barriers with real time and preferred pricing from connected suppliers, plus accurate estimates so builders can bid on jobs with confidence, knowing they won't lose money.”