When it comes to marketing, you need to be aware of current trends. This post will explore some of the hottest 2022 trends in the home remodeling / home improvement industry.
You can use this information to help pinpoint your targeting and construct your messaging.
Home Remodeling Searches Have Doubled
First, take a look at what home owners are looking for. Search trends revealed that searches for remodeling, kitchen remodeling, and general contractors for home improvement have more than doubled since 2020. Also, home appliance searches have increased by 26% in the last 12 months.
That means home owners are looking on line to find remodeling and home improvement businesses. Who are they seeing when they search? Is it your company? Your competition?
The big question here is – are you planning to wait for them to find you? Or, are you going to reach out to them?
Small Home Projects are On the Rise
According to the numbers, small home remodeling projects costing less than $8,500, like painting and fixture installation, are expected to grow by at least 8% in 2021. At the same time, the home improvement industry is projected to grow by at least 5%.
Homeowners are looking to fix up and improve their homes. If you handle smaller projects, your services are in big demand.
Kitchens are Still the Most Renovated Room in the Home
More than 50% of US homes were built before 1980. Many homes have outdated kitchens. As a result, the desire for modernized kitchens has become increasingly important to homeowners. In the past years, kitchens remain the most renovated room in the home.
In a recent survey by Porch, homeowners reported that they would be willing to spend $4,500 over budget on a new home with a newly renovated kitchen.
Like kitchens, bathrooms become outdated fast as well. Bathrooms are the second most renovated room in the home.
Smart Home Technology Surge
One of the top home remodeling trends is smart homes. Smart home technology features are becoming increasingly popular, especially among the new wave of millennial homeowners.
Research shows that investments in smart home technology have increased 20% every year since 2016. Of these investments, home security, climate control systems, lighting fixtures, and entertainment add-ons are the most popular upgrades.
By 2024, the smart home market is expected to grow from $76.6 billion in 2018 to $151.4 billion by 2024.
Additionally, household penetration of smart homes was 33.2% in 2019. It is projected to hit 53.9% by 2023. I guess this means we’ll be able to ask Alexa to turn on our lights in every room.
New homeowners are the top buyers of smart home technology. Because of this, many companies are marketing to this group on a weekly basis, selecting New Homeowners with high value single family homes.
DIY Home Improvement is Increasing
DIY home improvement is expected to rise by 4.2% by the end of 2022.
The data reveals that functionality, aesthetics, damage, ROI, and generational differences are a few of the driving forces behind the DIY surge.
In addition, as many as 73% of millennials are working on DIY home improvement projects. The other 27% are hiring professionals.
This makes sense. That’s because he millennial generation actively uses YouTube and other online channels, where DIY projects have become popular content to consume. In terms of the other 27% of millennials who hire professionals, businesses need to consider different types of marketing channels that reach millennial households. Direct mail is considered a top channel to reach this cohort.
Thank you to Porch, for a lot of this research information and statistics.