Whether you’re looking to add some new features to your home, remodel a room or fix up the exterior, the home improvement industry is booming. It’s a business that is projected to increase to $510 billion by 2024. The industry consists of companies that provide renovation, maintenance and repair services, as well as sale of building materials and appliances.
According to the Axiom Home Improvement survey, consumers are planning to tackle a wide range of home improvement projects in the coming year. A full 40 percent of respondents plan to do their first project in March, while 24 percent will start in the first two months of the year. Most homeowners are planning to hire a professional for some work, while others will do it themselves.
The Axiom survey also found that most homeowners have completed a home improvement project or two in the past year, and 90 percent plan to do more in 2021. The most popular project was the outdoor area, according to the survey. Many homeowners are planning to replace old roofs or install new windows and doors. Other projects include repairing a deck or patio.
When it comes to home improvement, a number of new players have entered the fray, including private labels, aggregators and DIY home improvement products. Aside from providing service offers, aggregators also act as intermediaries between consumers and service providers.
The Axiom home improvement survey also found that a number of new products have hit the market. One example is the Weatherization Assistance Program, which helps homeowners improve the energy efficiency of their homes. This program provides free weatherization services to qualified homeowners. Another is a home improvement credit card that offers rewards for purchases. It’s also possible to borrow money from the government to pay for home improvement projects. However, this is not a replacement for a personal loan. It may be more expensive than a personal loan, and it may take longer to process a home improvement loan.
While there are many home improvement businesses, a handful of them are truly special. Greg Home Improvement, for instance, has a 27-year history of delivering quality service to customers and a clean record with the Better Business Bureau. The company’s president, Greg Estevez, is the most experienced contractor and is responsible for conducting the estimates on the company’s projects. In addition, Greg has an insured business and has been a member of several reputable associations.
The home improvement industry has also been impacted by the housing market. Prices for homes have risen 20 percent over the past year, according to the Harvard Joint Center for Housing Studies. This is in part due to a pandemic that boosted home improvement projects. Another reason for the surge is that millennials are buying homes, according to Angi, a house renovation site.
The Axiom home improvements survey was conducted by a Minneapolis marketing firm. It asked consumers to answer a variety of questions related to home improvement projects, such as how often they did the most significant home improvement project, and which home improvement was the best of the three.