The number of homeowners who are planning a home improvement project in the next 12 months is up, and most are looking to hire professional contractors. This growth in homeowners planning a home improvement project is expected to continue through 2021, according to a new survey.
Homeowners have been planning a variety of home improvement projects. One-third of them are in the process of renovating or upgrading their homes. However, another 6 percent aren’t sure what their plans are.
The Axiom survey asked consumers about their home improvement plans for the year. Most of the respondents plan to make improvements in the exterior area of their homes. About 25 percent plan to fix up their decks, and another 20 percent plan to add a patio.
The most popular types of home improvements include: electrical, plumbing, and heating and air conditioning systems. Landscaping ranks third.
Among those who are planning a home improvement project in 2020, nearly one-third are currently in the process of making changes. Those plans are expected to increase, but some are holding back due to the economy, shortages of materials, and other non-urgent projects.
The survey also found that 91 percent of homeowners plan to hire a professional to do their renovations. While some homeowners will do their own work, the majority will hire a contractor or a tradesperson.
As with any home improvement project, homeowners should consider the value of their investment. The most expensive upgrades are not always the most beneficial investments. Instead, it is important to choose upgrades that will appeal to a wide range of people.