Home remodeling becomes larger in scope during pandemic
At first, it was converting a bedroom into a home office, perhaps improving the “backdrop” for Zoom calls within a given room. Or perhaps a quarantined family set up a “home schooling” station in a den for their kids. While home remodeling has surged since the pandemic began, many of the projects initially were smaller in scope, according to Realtor Magazine, who says that now homeowners are going bigger with their renovation plans, beyond the DIY projects that dominated during the early stages of the COVID-19 outbreak.
This includes expanding and rearranging entire floor plans to suit their needs and functionality, according to the Q4 2020 Kitchen & Bath Market Index, released by the National Kitchen & Bath Association and John Burns Real Estate Consulting, who adds, “The NKBA projects a 10.7% sales growth for the remodeling industry in 2021.The rising desire for large-scale projects is prompting homeowners to move away from DIY jobs and hiring professionals to do more robust renovations.” Anyone trying to hire a contractor right now will find out soon enough, as they are all nearly several months out from accepting new work.
“We’re seeing an incomparable surge in homeowners looking to rearrange floor plans, tear out complete kitchens, baths, and other rooms to make space for increased activity within the home, and generally create a space that better suits their evolving needs,” says Bill Darcy, the NKBA’s CEO. “Our industry’s greatest challenge will be operational, as our members aim to meet growing demand from homeowners with an unmatched appetite for remodeling.”
The rising cost of materials and supply-chain disruptions don’t helzwith the high demand for everything from cabinetry to appliances and skilled labor is hard to find, as more than 56% of remodeling contractors surveyed by the NKBA say that COVID-19 has worsened the already tight labor shortage due to the uptick in consumer demand. This results in longer to wait times for professionals to take on their remodeling projects.
Source: Realtor.com | TBWS
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