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Home Improvement Spending On The Rise

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Homeowner spending indicates greater opportunity for contractors

Home improvement spending is on the rise for DIY'ers in 2015.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.

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6 comments on “Home Improvement Spending On The Rise

  1. Jon

    Interesting article. DIY work will probably continue to be popular as costs for life in general increases and homeowners have less extra cash to hire a pro. I’d say the internet plays a large role in this as well.

  2. John. L

    Great article !!
    There are more and more women who are taking on a lot of these DIY jobs . When I go to the big box stores I see more women than men these days .

  3. kathleen

    For me cleaning after home improvement is the biggest task, that really gives me a headache all the time.
    For the first time when we had had our kitchen renovation, then cleaning after it made me mad and I hired professional home cleaners and they done a good job. Now spending money for home renovation will become useless after many years.

  4. Paul

    I guess I fit right into the demographics of this survey, as well as the dollars spent. It has me pegged pretty much right on, having completed two major landscaping/gardening projects this year. Luckily I was able to get it done without the use of a contract to save that money for inside improvements.

  5. Austin

    As a contractor I have already seen a huge jump in the number of jobs being done this upcoming year. I do mostly interior remodels and we are booked almost through the year already!

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