FOSTER CITY, Calif.,
May 20, 2021 /PRNewswire/
-- Modernize, a leader in the home improvement and home
services industry, announces today the results of their
latest homeowner survey related to home improvement project
plans and preferences. Survey results show that high demand for
contractor services is likely to continue through June of this
year, with 41% of homeowners currently in the process of completing
a home improvement project already making plans to begin an
additional project before July.
Modernize's homeowner sentiment survey is an ongoing, long-term
study of how homeowners research and tackle home improvement
projects, such as implementing solar power, replacing windows,
installing new roofing, and upgrading heating and air conditioning
systems. The survey explores how homeowners budget for their
improvement projects, find and select a preferred contractor or
remodeler, and plan to pay for their projects.
"Homeowners are increasingly and more thoroughly doing their
homework when searching for contractors," notes Gregg Hicks, Modernize vice president.
"Fifty-six percent (56%) of our homeowners report spending between
one and five hours researching their home improvement project,
which is up from 53% of respondents in 2020."
Webinar
In addition to the downloadable eBook,
Modernize will offer a free webinar reviewing the most pertinent
survey results and their implications for window replacement,
roofing, HVAC, and solar industries— as well as interior trades.
Details are below.
Date: Tuesday, May 25,
2021
Time: 2:00 pm, Eastern
Time
Register and download the eBook:
https://modernize.com/contractor-resources/modernize-homeowner-sentiment-report-webinar
Homeowner survey finding highlights
Modernize's
report, available in a downloadable eBook, shows home improvement
and home service plans from more than 20,000 consumer and
trade surveys completed between January and May 2021.
Notable findings include:
- Seventeen percent (17%) of homeowners expect to spend more than
$10,000 on upcoming interior
projects, while, 71% of respondents plan to spend $5,000 or less on interior work.
- After price, online ratings and reviews are the most important
factor when choosing an interior remodeler. While 26% of
respondents value online ratings and reviews, 22% are heavily
swayed by references. This is even more important for homeowners
seeking contractors, with 37% impressed by online ratings and
reviews.
- A majority of homeowners (56%), across trades, spend 1-5 hours
researching their project before requesting a quote. However, 20%
of homeowners claim to spend no time researching. Prior to the
pandemic, 30% of homeowners confessed to doing no research before
lead submission.
- This year, 31% of homeowners plan to finance about half of
their project. This is an increase from 20% of respondents in
2020.
Poor communication could cost contractors business. Twenty-three
percent (23%) indicate that a lack of communication would be the
leading reason why they would not hire a given home improvement
contractor.
The webinar will be hosted by Chris
Pallatroni, of Modernize along with Gregg Hicks, vice president of Modernize.
About Modernize.com
For more than 15 years, Modernize
has been a leader in the home improvement and services industry,
connecting homeowners with contractors and other home services
professionals. Modernize operates in more than 15 high-value,
high-consideration home segments, including new and replacement
windows, solar installation, roofing, heating and air conditioning,
siding, bathrooms and kitchens, new and replacement gutters, home
security, and others. The business brings a network of more than
1,000 contractors and professionals across all segments, offering
broad geographical coverage and choice for homeowners.
Modernize is owned and operated by QuinStreet, Inc. (Nasdaq:
QNST), a leader in providing performance marketplace technologies
and services to the financial services and home services
industries. QuinStreet is a pioneer in delivering online
marketplace solutions to match searchers with brands in digital
media. The company is committed to providing consumers with the
information and tools they need to research, find and select the
products and brands that meet their needs. Modernize is a member of
QuinStreet's expert research and publishing division.
Twitter: https://twitter.com/ModernizePros
Facebook: https://www.facebook.com/modernizepros
Media Contact
Jacqueline
Leppla
Senior Director of Public Relations
QuinStreet, Inc.
Direct +1 775 321 3608
Email jleppla@quinstreet.com
LinkedIn
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SOURCE Modernize.com