Home Remodeling Contractors Get Ready For A Busy Fall
As fall creeps up and temperatures cool, most homeowners usually start to think, “Why didn’t I renovate that ____ back in June when it was warmer out?”
Well one of the biggest reasons was, what seemed to be, the endless rain that hit a lot of the US from April through August of 2019.
Understanding these weather trends can really benefit home remodeling contractors as they look to build or supplement their business throughout 2019 and heading into the new year.
Weather Trends Postponed Home Improvement Projects
According to NOAA’s National Climate report, the United States average May 2019 precipitation total was 4.41 inches.
That’s 34%, or 1.50 inches, above the 20th-century average and only 0.03 inches shy of the US wettest month of all time, May 2015 at 4.4 inches.
Many homeowners weren’t prepared for the onslaught of this wet weather. Studies confirm just that.
Earlier in 2019 the Home Improvement Research Institute asked US homeowners how many and what type(s) of projects they were planning to accomplish throughout the year.
According to HIRI, the U.S. Northeast had planned the nation’s highest percentage of projects once spring rolled around in Q2 2019.
Many of those projects were never completed.
Why you ask?
Well, a rainy spring and hot summer across much of the US left many items on a “to-do list” postponed or unfinished - specifically outdoor projects.
Many of these projects still need to be finished before the winter, which should lead to a busy fall for contractors.
In many cases the onslaught of rain has the homeowner’s focus from upkeep to preservation.
Some of the more popular projects still in flux are implementing dry basement solutions, preventing water in crawl spaces, gutter cleaning, and gutter guard installation.
Unsurprisingly, waterproofing has become a huge focus in the northeast US and other parts of country.
As of July 31st, 2019, about 75% of homeowners are planning one or more projects this fall
As interest rates continue to maintain or drop, personal loans and HELOCs continue to fund larger projects
This is a huge positive for the building and remodeling industry as a whole as we get ready for 2020.
This is the highest project planning incidence since tracking began in 2012
The average homeowner plans to complete 4.3 projects in the next three months
This includes projects both small and large
Contributing to all of this late year project planning
A lack of new build homes readily available on the market is leading homeowners to improve their current home rather than buying and selling
Confidence in the stock market is helping homeowners continue to feel self-assured about investing in their homes
So… much…rain. There, we said it again
Outdoor projects are the most popular:
More than 30% of homeowners are planning to work on their lawns and gardens
15% of homeowners are planning to paint the exterior of their homes
Gutter and gutter guard projects are at the top of the list
Interior and exterior basement and crawl space waterproofing is also on many to-do lists
Most common projects people are planning include:
Simple repair
Replacement for failing or aging product
Routine maintenance
Larger projects include kitchen, windows, driveway, paint exterior and roof
Fewer kitchens, windows, roofs, and driveways are being planned due to the cost
(Source: HIRI Project Tracking Survey 1Q & 3Q 2019)