R&A Magazine - Winter 2021 - 55

T H E B I A CORNER

The pandemic transformed the way we live, work and spend money. If
you've purchased interior paint for your home, new flooring or worked
with a remodeler recently, you're not alone. Homeowners have shifted
their spending from entertainment and travel to home improvement
projects, according to HomeAdvisor's latest " State of Home Spending "
survey.
HomeAdvisor conducts a survey every year of homeowners across the
U.S. who have completed projects within the last 12 months. The survey revealed that homeowners spent an average of $13,138 on homeimprovement projects in 2020, compared to $9,081 in 2019. Rising
costs for material and labor are contributing factors to the increase
in spending. Increased home buying is also a factor, primarily driven
by millennials, the oldest of whom are now at or close to the median
age of first-time home buyers, according to the National Association of
Home Builders.
Home maintenance projects, such as cleaning and landscaping,
saw the biggest year-over-year increase, rising from $1,105 in 2019
to $3,192 in 2020. Contributing factors include people using their
homes more, resulting in more wear and tear, and spending more
time at home, making problems more noticeable.
The top home improvement projects included interior painting projects, bathroom remodels and new flooring installations. Respondents
to HomeAdvisor's survey indicated that interior painting projects would
remain the top project leading into 2021 - a departure from prior
years, in which room remodels generally held the top spot. According
to the report, " painting was one of the most popular projects across
nearly all age groups, because it is relatively affordable and offers a
lot of visual value in terms of the look and feel of a room. "
The report also examined the way that homeowners are using their
homes in the wake of COVID-19. Seven in 10 respondents indicated
that COVID-19 had increased their need for home cooking, 50 percent
were working from home and 40 percent were incorporating more
home entertaining.
For more information, contact the BIA of Lancaster County at
lancasterbuilders.org.
R&A

introducing...

Steve Cook

2021 President

Building Industry
Association of
Lancaster County

the BIA corner

Home Improvement Projects Grow in Popularity


http://www.lancasterbuilders.org

R&A Magazine - Winter 2021

Table of Contents for the Digital Edition of R&A Magazine - Winter 2021

Contents
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https://www.nxtbook.com/ramagazine/ramag/Winter2021
https://www.nxtbook.com/ramagazine/ramag/Fall2020
https://www.nxtbook.com/ramagazine/ramag/Summer2020
https://www.nxtbook.com/nxtbooks/ramag/winter2020
https://www.nxtbookmedia.com