Do you spend time poring over the latest post on Pinterest, or those fun before-and-after photos posted all over Facebook? How about watching marathon showing of Love It or List It? If so, the Home Improvement Research Institute (HIRI) thinks you should pay attention to some key trends happening this spring. HIRI is a nonprofit trade association comprised of global building product manufacturers, national retail chains and allied organizations, so they know a little bit about what’s happening in the home improvement space.
Nearly a quarter of the U.S. population made home last year, and only 7% of them worked with a professional. Do-it-yourselfers spend more than 60 hours per week on TV and digital devices like their smartphone. And with so much technology and choices available, that makes DIY a realistic option for people drawing upon everything from design inspiration to DIY tutorials.
According to a recent study, more than a third of homeowners who completed a home improvement project in 2018 regretted not spending additional dollars. Surprisingly, this lack of spending resulted in disappointment for would-be home improves because instead of hiring a professional or budgeting for more material, DIYers fell victim to “over-inspiration.” In other words, they used a wide range of inspirational sources, especially television, magazines and social media to determine their purchases. That in turn often leads homeowners to purchase goods and services — but not necessarily the right goods and services – appropriate for the investment value of their property.
Remodeling Activity Isn’t Slowing Down Anytime Soon
The steady increase in remodeling activity will continue through 2021, HIRI experts predict. With home prices increasing, new construction harder to find in some areas of the country, and homeowners aging in place, people are staying put and remodeling.
Got the remodeling bug? Check out the Central Oklahoma Habitat for Humanity ReStores located throughout the Oklahoma City metro area. Our ReStores sell tons of home goods at discounted prices to keep your budget happy and in check during your project. You can find flooring, paint, tile and other various building materials at the ReStores.