As the most recent round of stimulus checks hit bank accounts, how are homeowners planning to use the extra money? There is good news for home improvement contractors: a recent survey shows that more than half of homeowners’ plan to use their stimulus money on home improvement projects.
Survey Results: Home Improvement Costs Are a Priority
In the past month, we surveyed over 1,200 homeowners to see what people intend to do with their existing and upcoming stimulus payments.
The survey results show that the home improvement industry will continue to stay strong as many homeowners are prioritizing their home improvement and repair projects:
- 51.7 percent of homeowners will use all or part of their stimulus checks on home projects
- 37.7 percent of homeowners are using all the money on home improvement
- 19.4 percent of homeowners are putting a portion of their checks into home projects
The boost of cash is a great way to cover the extra costs of home improvement or home repair projects. Offsetting a construction project’s price with several thousand dollars from the family stimulus money will dramatically reduce the out-of-pocket spending needed to cover the rest of the bill.
Why Are Homeowners Spending Money on Renovation Projects?
Over the last year, many Americans have spent more time at home than ever before. As families are staying home to protect themselves from the virus, they focus more on their current quality of living conditions.
While some homeowners used the extra time for DIY projects, many others decided to invest in professional services. Since construction and home improvement fall in the category of “essential” services, these businesses have been able to stay open during this time.
Regardless of each homeowner’s motivations for home renovations, there is no question that plenty of opportunities are available for contractors in the home improvement industry. Have you noticed an uptick in your business over the past year? By the trends, it looks like things will continue to stay strong for a while.
Are You Ready To Serve These Homeowners?
With more homeowners showing interest in home improvement projects, make sure you are proactive with marketing and lead generation. People are looking for providers like you – now is the time to position yourself in a way that drives more homeowner connections for your sales team.
The fastest way to connect with interested homeowners is by working with a lead generation company. Since the stimulus checks are already in distribution, you have a short window of time to connect with people ready for your services.
Modernize is here to simplify your lead generation process, providing your company with high–quality leads in your local area. Contact us to learn more about how your contracting business will benefit from vetted homeowner leads.