News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
REMODELING / August 21, 2013
Top full-service remodelers and home improvement contractors expect $3.84 billion in sales
America’s biggest remodelers expect to see a 19.9% increase in revenue from 2012, while the nation’s largest home improvement contractors are looking for a 14.5% gain this year, the just-issued Remodeling 550 shows.
The top 300 full-service remodelers responding to this year’s survey said that they expect to take in $1.35 billion this year, according to the report in the August issue of REMODELING. That compares with $1.12 billion in 2012 collected on 47,278 jobs at an average valueRead More
Victoria Downing / Remodelers Advantage / July 1, 2013
I’ve been working in the remodeling industry for over 20 years – working with remodelers of all shapes and sizes, as well as with representatives of companies who sell products and service to remodelers. It’s sort of amazing that I keep running into these two issues;
- Some building product companies go after remodeling sales when new construction halts but STILL abandon these efforts at the first sign of any health in new homes. BIG Mistake!
- Those companies who believe that the remodeling segment represents a huge opportunity for increased revenue and long term sales often don’t understand
Alex Viega, Associated Press / Boston.com / August 15, 2013
Homeowners are opening their wallets. A rebound in the housing market has made them more willing to invest in renovations that could boost the value of their homes even more in a rising market.
Spending on home remodeling has picked up over the past 18 months and is expected to rise nearly 20 percent to $151 billion by the fourth quarter, according to a recent report by the Joint Center for Housing Studies at Harvard University.
Many homeowners decide to make upgrades with the idea that the bigger kitchen or finished basement will make their home more enjoyable. But those looking to sell should knowRead More
Jim Cory / REMODELING / July 31, 2013
What information do you need to evaluate the efficiency of a home improvement business?
When Scott Hayes, owner of New York Sash, gets to the company’s office in Rome, N.Y., in the morning, the first thing he looks at is the call reports filed the night before by the company’s four sales reps. “I look at the sale, the salesman, the amount, the product, and the financing status,” Hayes says.
Owners of home improvement companies — companies that sell jobs with a limited scope of work installed in a day or a few days — sometimes describe their businesses as marketing and sales machines whoseRead More
Nina Patel / REMODELING / July 17, 2013
The typical buyer spent $4,550 within three months of purchasing a home
Within three months of a home purchase, 53% of buyers undertook a home improvement project. According to the 2013 Profile of Buyers’ Home Feature Preferences by the National Association of Realtors, the typical buyer spent $4,550 on various projects. Logically, a higher percentage of buyers of previously-owned homes undertook remodeling projects within three months, compared with those who purchased new homes.
Enthusiastic first-time buyers spent more than repeat buyers on projects costing less than $5,000.Read More