For years, British homeowners chose to undertake various DIY projects to improve the look and feel of their homes; in the hope that this more ‘cost effective’ option would help to increase the overall perceived value of their property.
In recent years, there’s been a clear shift in home renovation methods, with homeowners preferring to employ professionals to complete their tasks, as opposed to taking on their own DIY projects.
This comes as little surprise, as one in ten homeowners’ DIY projects went wrong in 2016, and subsequently nearly doubled their costs*, according to recent Lloyds research. With these statistics coming to light, now is the perfect time for trade professionals to make valuable connections with customers, and offer their skills to help successfully complete their renovation projects.
Recent figures have revealed that throughout 2016, renovations were said to cost on average £3,404**, with 29% of homeowners believing that significant home renovations will add between £12,500 and £25,000 to the value of their home*. With this in mind, merchants should be aware of the high level of investment homeowners are willing to make on their homes, and therefore think about stocking a wide range of popular product lines to maximise on the move from DIY to ‘Do It For Me’.
*Lloyds Bank 2017
**American Express 2016
Josh Burbidge is business development director at Richard Burbidge.