GERMANTOWN, Tenn., April 29, 2016 /PRNewswire/ -- A new study on how homeowners approach a home improvement project found something that wasn't expected. After the pounding home prices took during the Great Recession, it was anticipated that homeowners would be less likely to be focused on adding value to their homes when doing remodeling. It turns out that hypothesis was wrong. "The rating for importance of information on the 'impact on my home's value' actually went up marginally from before the recession to today. It appears that once trained to think about the impact on their home's value, US homeowners have made that a part of their long term thinking," said Fred Miller, President of Consumer Specialists, the firm that did this research.
While adding value held its own, there was statistically significant growth in the importance of getting ideas on styles/appearance. While it is hard to pinpoint the driver of this interest, the availability of ideas on the Internet and via television programming, certainly help fill this growing need. As it happens, our newly crowned largest generation, the Millennials, has the strongest interest in style/appearance. "For business whose products or services relate to style and appearance, this should be a call to action to meet the strong needs of Millennials in this area," commented Mr. Miller.
In recent years US homeowners have gone through a lot with the Great Recession and the continual growth of technology in every aspect of their lives. What has all of this done to change how homeowners approach their home improvement projects? Consumer Specialists was in a unique position to gain insight because it had done a major study in 2006, prior to the financial crisis. By contrasting the results of a new study to the original one, a lot has been learned.
The full results of the study are in a report titled, Changing Approaches To Home Improvement; The Profound Impacts of The Housing Bubble and Technology on US Homeowners. This survey covers a range of other subjects including sources that are used for research, methods for finding a contractor and perceptions of leading national home improvement service companies. More information on this study is available at www.Consumer Specialists.com or by contacting Fred Miller at email or via phone at 901.757.5865.
Consumer Specialists is a research and consulting firm specializing home related industries. The subject study is one of a number conducted by the firm in addition to its research that is proprietary to individual clients. With 30 years of experience in the industry, the firm brings a wealth of knowledge to help understand current conditions, changes that have happened and implications for the future.
Fred Miller, President Consumer Specialists
SOURCE Consumer Specialists