The Honey-Do List Is Coming Back

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Once upon a time home improvement was a major national pastime. Then the recession hit and many homeowners put a freeze on unnecessary spending. Research shows a thaw may be beginning.

The Remodeling Futures Program at Harvard University’s Joint Center for Housing Studies suggests that expenditures for home improvements is expected to increase 5% this year over last year.

Polling by American Express in late March found 62% of respondents plan to make some type of upgrade this year. 53% plan some type of interior remodeling. And 36% plan some type of cosmetic work.

Interestingly, while 1 in 5 say they are acting because the project can no longer be put off, almost half say they are making the change to improve their home’s appearance. Only 11% say they are doing it to increase their home’s value as most see the present economic environment hostile to home sellers.

This suggests that the biggest opportunity for brands targeting homeowners is to appeal to their desire to make investments in their home for the sake of its livability and enjoyment rather than its resale value.

Read more about the expectations for increased remodeling.

To talk to someone about helping your brand take advantage of the present economic environment, contact us today by e-mail or phone, 903-534-5220.