Home improvement projects: Who wants them and why?
The more a contractor knows about what motivates their customers, the better. On the pages below are excerpts from a recent study completed by the Home Improvement Research Institute (HIRI). The study polls recent home buyers and asks them about which home improvement project they are considering and why. The study also compares the differences between buyers of new homes and buyers of existing homes and looks at how homeowners go about finding a contractor. This is all good information to know and could help a contractor tailor proposals to the specific desires of potential customers.
Home Project Reasons
New home buyers and existing home buyers have many reasons (to varying degrees) for their improvement projects. Obviously, some of the top reasons given by existing home buyers, such as the need to replace old materials and the need to cleanup, aren’t usually applicable to newly built homes.
Surprisingly, over one-half of those who purchased a newly built home have made some kind of improvement to it – mainly outdoor work, such as deck/patio, fencing, and landscaping improvements.
Home Professional Locators
Both groups looked for pros in similar ways. Arrangement by a retailer was particularly popular for buyers of newly built homes, compared to buyers of existing homes.
Home Professional Usage Reasons
Existing home buyers were more likely than new home buyers to use a professional due to feeling uncomfortable or overwhelmed by their improvement project(s).