The Latest Home Renovation Trends
According to recent study from DEWALT, home improvement demand is hot, hot, hot and like the temperatures in Knoxville this August, not likely to cool for some time.
This is likely tied to the tight housing market. In fact, more than half (52%) of U.S. homeowners are considering renovations as an alternative to buying a new home.
More than seven in 10 homeowners are already planning on or considering home renovation projects for the next six months.
Most homeowners (84%) are planning on or considering using a professional home contractor for their upcoming project, but of those who have been in contact with a contractor, more than half (56%) must wait at least three months for work to start.
Most Common Home Renovation Projects
The most common home renovation projects being considered include bathroom remodels (42%) and kitchen remodels (40%), followed by bedroom remodels (28%), porch/patio/deck makeovers (21%), and landscaping projects (20%).
Contractors are needed most for electrical work (44%), flooring (41%), plumbing (40%), windows (40%) and structural work (39%) – all skills that are required for most of the top projects.
When it comes to selecting a contractor, homeowners prioritize price (62%), followed by being licensed (52%) and professionalism (49%). Most homeowners (53%) rely on word of mouth to find their contractor, while 40% of homeowners use online search.
Tips to Navigate the Intense Demand
DEWALT has partnered with professional builder and YouTube star Kyle Stumpenhorst to share his top tips for homeowners on how to find the right contractor and navigate challenges in today’s market.
According to Kyle, homeowners should:
- Do the research: When selecting a contractor, it’s important to look at their internet presence, reviews and social media to gain insight into their working style. If a contractor is busy (which is a good sign), take a look at their active projects and come with ideas for paint, design, etc. to ensure a smooth process.
- Focus on quality over price: While it might feel tempting to choose the cheapest options, lower cost is not always better. Focusing solely on price could result in having to re-do projects.
- Don’t wait for material costs to go down: With demand for renovations so high, many homeowners have expressed hesitation to move forward with projects due to high lumber and material prices. But, waiting is not the answer. The wait time for contractors will only increase and material costs may not go back to pre-pandemic prices. Preparing your budget with the current pricing will allow for a better result.