The Impact of Remodeling: What Homeowners Think After the Project Is Done
by Amy Lindholm, March 15, 2018
Remodeling involves a good deal of stress and considerable expense, but when the dust settles, will it be worth it? According to the latest research, homeowners agree the results really are worth the stress and investment. The 2017 Remodeling Impact Report, co-authored by the National Association of the Remodeling Industry (NARI) and the National Association of REALTORS®, reveals some interesting insights about why homeowners remodel, redesign and restructure their home, and how they feel about their project once it is complete.
Why Homeowners Remodel
Americans spent $340 billion on remodeling and home maintenance projects in 2015 alone. The 2017 Remodeling Impact Report surveyed more than 2,000 homeowners about the most recent remodeling project they undertook. When asked about their reasons for remodeling, the responses included:
- 35 percent of consumers remodeled to upgrade worn-out surfaces, finishes and materials.
- 16 percent of consumers wanted to add features and improve livability.
- 13 percent of consumers remodeled because they felt it was time for a change.
The Positive Impact of Remodeling
According to the report, increased home equity and higher resale value weren’t the only positive outcomes of renovation. Homeowners who took on remodeling projects also reported emotional benefits from completing their projects.
- 75 percent of owners have a greater desire to be in their home after remodeling.
- 65 percent enjoy their home more.
- 56 percent feel happy and 39 percent feel satisfied when they see their completed project
- 77 percent feel a major sense of accomplishment when they think of their completed project.
Ways Contractors Can Ease Homeowner Reluctance
Despite the increase in home value and day-to-day enjoyment, the fact remains that remodeling can seem overwhelming to some. Let your prospective customers know that working with a professional, qualified remodeler can make a big difference in the ease and success of a project. Share your required experience and training to let them know you are a contractor they can trust. Siding contractors can enroll in the LP® BuildSmart™ Preferred Contractor program for education on how to provide quality installation of LP® SmartSide® products.
Learn more about the benefits that LP SmartSide siding brings to your business. If you are a professional who would like more information about the LP BuildSmart Preferred Contractor Program, visit www.LPBuildSmart.com or call (866) 389-4657.