Nowadays, people have become more intentional about the kinds of spaces they'd like to live in and around. Because of this, the remodeling industry has seen quite a spike over the last couple of years. And this is only likely to increase. After all, more people are buying homes. And even those that don't want their rented spaces to feel like home. Here are some ways that prove the remodeling market is experiencing significant growth.
Increase in the DIY Craze
The do-it-yourself craze is likely here to stay. It used to be that if you wanted anything done at home, one would hire an expert. Today, more people have embraced the idea of customizing their spaces on their own. Being able to finish a renovation project creates self-confidence and increases dopamine levels.
Several DIY channels are up on YouTube. And more information is available on blogs. Due to how popular DIY projects have become, even renovation experts have joined the movement. Today, you'll find blogs and vlogs from experts teaching their audience DIY projects. For them, it's another way to show off their skill. It's also a different revenue model.
More Information Online
Increased information has also contributed to the growth in the remodeling market. There's been a surge of websites and vlogs online. Several of these are in the home improvement industry. As a result, people have begun to embrace the idea of change more. The home improvement industry is worth approximately $400 billion now. Projections show that by 2024 it will have reached $510 billion. Social media and the internet have a huge role to play in how fast this field has grown.
Better Technology
Enhancements in technology have made it easier for home improvement to thrive. A while ago, finding the right contractor was quite a hassle. But today, it is a lot easier for anybody looking for a remodeling expert to find someone that's fit for the project. There are all kinds of apps and websites that one can use to find a contractor near them quickly.
Technology has also made it easier for people to buy tools and equipment that they can use to work on projects. Today, people don't have to worry about going down to the store to learn what type of equipment is available. One can simply browse the web, order tools, and have them delivered to their doorstep.
Tech advancements like augmented reality have also made a difference in home improvement. Nowadays, people are able to see what their home will look like even before they spend a dollar to make any changes. From the color of your walls to the type of furniture in the home, this technology is making quite a difference. And the best part is that this technology still has much more potential.
Final Thoughts
The remodeling market is certainly not slowing down any time soon. Thanks to platforms like Instagram and YouTube, people are eager to show off their homes. This can only mean one thing for the industry--upward trajectory.
How the Remodeling Market Continues to Show Growth
- October 17, 2021
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