Foster City, Calif.—A recent homeowner survey conducted in September and October by Modernize, a leader in the home improvement and home services industry, showed increased homeowner plans for renovation projects this winter.
“We see that interest in home improvement projects appears higher than usual heading into this winter,” said Cassie Morien, homeowner insights analyst for Modernize. “With limited travel planned amid the pandemic, homeowners appear to be shifting funds away from plane tickets and hotels and instead envision renovating their properties to make them more comfortable and energy efficient.”
Important homeowner survey findings
Modernize’s report, available in a downloadable eBook, reflects information from more than 5,000 consumers. Results show the following holiday and winter season plans:
- 76% of homeowners will not travel this holiday season
- 28% will conduct exterior home improvement projects
- 48% of survey respondents expect to spend between $1,000 and $10,000
- 11% of homeowners budget more than $10,000
- 39% of respondents are prepared to pay with cash
- Of those seeking financing, 96% will try to borrow 50% or more of expected project costs
Webinar
Modernize will offer a free webinar, Thursday, Oct. 29, at 1 p.m. CST to discuss the latest Modernize homeowner survey findings and its implications for contractors this winter. The webinar will be hosted by Jamie Smith, director of client acquisition services, along with home improvement expert, Gregg Hicks, vice president at Modernize.
Register for the webinar here.