Homeowner spending indicates greater opportunity for contractors
This is a press release from our sponsor Quikrete on home improvement spending. Normally when homeowners indicate that they are interested in spending more on home improvements it is a bellwether for contractors.
Following a severe winter across most of the country, many homeowners are prepared to increase outdoor home improvement spending with a greater emphasis on building projects this year. A recent survey of 507 homeowners by the Home Projects Council (HPC) revealed that 45 percent of homeowners plan to spend $1,000 or more on outdoor do-it-yourself (DIY) home improvement projects in 2015 compared to only 37 percent of homeowners that spent at that level in 2014. In addition, building projects are forecast to increase at a greater rate than landscaping, repair and maintenance projects year-over-year according to the survey.
Outdoor Home Improvement Spending Survey Forecast
Outdoor DIY Home Improvement Spending 2015 2014
More than $5,000 11% 9%
$1,000 to $5,000 34% 28%
$500 to $1,000 27% 25%
$100 to $500 25% 33%
Less than $100 3% 5%
As is traditionally the case, landscaping, gardening and maintenance projects are the most popular outdoor DIY home improvement spending projects in 2015. However, the greatest increase between projects completed in 2015 and projects planned in 2014 involve building.
Biggest Increase in Outdoor DIY Home Improvement Spending Projects from 2014 to 2015
Build a shed or storage building 88%
Pour a concrete patio, steps or sidewalk 80%
Install a garden pond or bird bath 59%
Build a deck or porch 50%
Build a patio or walkwak 43%
“While home maintenance projects remain a priority, homeowners are becoming more comfortable and confident with more involved and complex home improvement projects, which allows them to maximize their budget for upgrades across an entire house,” said Frank Owens, vice president marketing for The QUIKRETE® Companies and HPC member.
Home Improvement Spending Increases as Home Market Improves
“To get top dollar for their home, sellers need to get it in the best possible condition they can,” said Stacey Moncrieff, vice president of business-to-business communications for National Association of Realtors and HPC member. “If it’s feasible, real estate professionals say exterior improvements often bring the greatest return. From adding fresh plants to repairing walkways to adding a deck, enhancing curb appeal is a great way to turn lookers into buyers.”
The survey also found that the biggest factor preventing homeowners from attempting or completing an outdoor DIY home improvement project was the expense (37 percent) followed closely by the amount of time required (36 percent). For more insights from the Home Project Council and its members, visit Facebook.
Home Improvement Spending Survey Demographic
Conducted in March 2015
- 507 respondents – 46% male, 54% female
- Ages 25 to 64
- DIY skill level – 39% beginner, 43% intermediate, 18% expert
- Household incomes $250,000 or less
- Homeowners who completed at least one DIY home improvement project in 2014 and are planning at least one DIY home improvement project in 2015
BTP NOTE: While this survey focused on DIY’ers and their home improvement spending on self run projects, more often than not, homeowners run into complications and oversights that prompt the need for bringing in a pro to do the work.