Modernize Home Services released a preview of its quarterly homeowner insights analysis, resulting from a recent survey where more than 6,500 homeowners shared their plans for upcoming home improvement projects.
The Fall 2021 Homeowner Survey Results show that nearly two out of five are pursuing projects to save money in the short- and long term.
The survey covers homeowner behaviors, future project planning, budgets and financing, preferences, and more.
Modernize surveys thousands of homeowners every quarter to provide insight into what drives them to start home improvement projects.
These results offer contractors a look into the latest homeowner trends and behaviors.
Key Homeowner Insights:
- 39% of homeowners plan to pursue additional home improvement projects over the next year;
- While the majority of homeowners are repairing damage, 37% are pursuing projects to save money on monthly electricity and utility bills, and 19% are looking to increase the value of their home;
- 72% plan to budget $5,000 or less on their upcoming projects;
- If financing were available, 34% of surveyed homeowners would finance their entire home improvement project.
- Roofing: More than 50% of homeowners plan to install gutters or gutter guards during their roofing project.
- If financing were available, 36% of homeowners would seek to finance the entire roofing project.
- Solar: 58% of homeowners pursuing projects are not aware of the current 2021 federal residential solar energy credit.
- 22% of homeowners plan to spend more than $10,000 on their solar project.
- Approximately 83% are installing solar to save money on utility and electric bills.
- Windows: 67% of homeowners wish to finance some or all of their upcoming projects.
- 84% plan to spend $5,000 or less.
The survey was conducted on the Modernize Home Services website from Sept. 20, 2021, until Oct. 11, 2021, with 6,589 respondents in the United States.