FOSTER CITY, Calif. — Modernize Home Services released a preview of its quarterly homeowner insights analysis, showing homeowners are interested in gutter products along with their roofs and would seek financing for roofing projects if available.
The information is from Modernize's Fall 2021 Homeowner Survey, where more than 6,500 homeowners shared their plans for upcoming home improvement projects. Results show that nearly two out of five are pursuing projects to save money in the short- and long-term. The extensive 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 an exclusive and competitive look into the latest homeowner trends and behaviors, which can be leveraged to help them understand their customers and grow their businesses.
Key insights include that more than 50% of homeowners plan to install gutters or gutter guards during their roofing project. Additionally, if financing were made available to them, 36% of homeowners would seek to finance the entire roofing project.
Roofing contractors in the solar business looking for sales opportunities should brush up on what credits are available, as 58% of homeowners pursuing projects are not aware of the current 2021 federal residential solar energy credit. A total of 22% of homeowners plan to spend more than $10,000 on their solar project, with approximately 83% installing solar to save money on utility and electric bills.
On a broader scale, 33% 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, while 19% are looking to increase the value of their home. The survey shows 72% plan to budget $5,000 or less on their upcoming projects.
The Modernize team is hosting a free webinar on Tuesday, Oct. 26, to offer registrants an inside look into the latest homeowner trends, and what motivates them to begin home improvement projects. The Fall 2021 proprietary findings will be revealed; attendees will learn homeowners' future project plans, budgets, financing needs, and demographics. Industry experts will also advise how contractors can implement strategies for connecting with customers at different levels of homeownership. Participants are encouraged to register in advance and will receive the exclusive Fall 2021 Modernize Homeowner Survey Results eBook for free following the event.
Cassie Morien, lead homeowner analyst for Modernize Home Services, will host the webinar with special guest speaker Patrick O'Toole, editorial director for Qualified Remodeler.