1. Remodeling Market 2018 Profiler
Brought to you by Media Group Online, Inc.
Many Opportunities to Help Homeowners Enhance Their Properties and Lifestyle
© 2018 Media Group Online, Inc. All rights reserved.

2. Economically Confident Consumers Drive Remodeling Market
Economically Confident Consumers Drive Remodeling Market
The Leading Indicator of Remodeling Activity (LIRA) from the Joint Center for Housing Studies of Harvard University predicts 2018 homeowner spending on improvements and repairs will increase 7.5% to $340 billion, the largest increase since 2009.
The Joint Center attributes the increase to a stronger economy, higher home prices and continuing restoration efforts as a result of damage from natural disasters.
During February 2018, Metrostudy increased its big- ticket remodeling forecast from 4.7% to 5.2%, with the increase continuing through For 2018, it forecasted $171.1 billion in spending with at least million projects of $1,000 or more.

3. Aging-in-Place Baby Boomers Are Remodelers’ Favorites
Aging-in-Place Baby Boomers Are Remodelers’ Favorites
According to the National Association of Realtors, younger Baby Boomers are most likely to remodel (40%), followed by older Baby Boomers at 34%.
Baby Boomers’ remodeling projects include home officers, tech/media centers, wider doors and hallways, better lighting/bigger windows, 1st floor bedrooms and bathrooms and larger bedrooms and bathrooms with dual sinks and separate tub and shower.
Harvard University predicted that by 2025, one- third of all home improvement spending will be by homeowners age 65+, and more than half of all spending by those 55+.

4. Consumer Remodeling Insights
Consumer Remodeling Insights
A 2017 Home Improvement Survey from Empire Today, a national flooring company, found that the kitchen was the most commonly renovated room, at 54%; followed by bathrooms, 45%; bedrooms, 42%; living areas, 39%; and outdoor, 35%.
Painting was the most common type of improvement, at 56%, then flooring, 39%; outdoor, 38%; cabinets, 25%; plumbing, 24%; appliances, 23%; lighting, 23%; and windows, 21%.
Women were more likely to repaint and renovate outdoor areas and replace appliances, while men were more likely to replace cabinets, upgrade plumbing, replace windows and install new lighting. They were equally likely to replace flooring.

5. The Remodeling Projects That Return the Most for Their Investment
The Remodeling Projects That Return the Most for Their Investment
According to Remodeling’s 2018 Cost vs. Value Report, among all mid-range remodeling projects analyzed, manufactured stone veneer had the largest potential for recouping the total cost, at 97.1%; followed by a steel entry door replacement, at 91.3%.
For upscale remodeling projects, a garage door replacement has the potential to recoup 98.3% of the cost; followed by vinyl window replacement, 74.3%; wood window replacement, 69.5%; and fiberglass grand entrance, 67.6%.
Among mid-range and upscale remodeling projects, the two most costly for 2018 are the same: master suite addition, $123,420 and $256,229, respectively, and major kitchen remodel, $63,829 and $125,721, respectively.

6. Remodeling Business Facts
There are approximately 80,000 remodeling firms in the US that compete for jobs nationally The top 500 firms represent $8.97 billion in gross revenues for 1,147,911 projects during 2017, or approximately 2.8% of the total market.
The top 500 remodeling firms, as a group, have had a 10.4% compounded annual growth rate (CAGR) since 2013.
Among the top 500 remodeling firms, 21.2% considered higher volume of leads for new business their largest opportunity during while 35.8% said their largest challenge was finding and hiring qualified employees.

7. Homeowners Across the Country Focused on Bathroom and Kitchen Remodels
Homeowners Across the Country Focused on Bathroom and Kitchen Remodels
According to The Media Audit’s Winter 2018 survey, more women than men plan to remodel a bathroom during the next 12 months in Columbus, OH – 53.2% and 46.8%, respectively – and New Orleans, LA – 56.5% and 43.5%, respectively.
Not surprisingly, a higher percentage of women than men 18+ plan to remodel a kitchen during the next 12 months in these markets: Columbus, OH – 59.6% and 40.4%, respectively – and New Orleans, LA – 60.8% and 39.2%, respectively.
In the Seattle-Tacoma, WA market, however, slightly more men than women – 51.4% and 48.6%, respectively – plan to remodel a bathroom and they are almost the same for those planning to remodel a kitchen, 49.7% and 50.3%, respectively

8. Advertising Strategies
Advertising Strategies
In affluent older neighborhoods, offer customers a discount if they agree to display a sign in their yard with your company name and Website URL.
TV and direct mail are an excellent media mix for remodelers to maximize lead generation among Baby Boomers, as they represent the largest percentage of TV viewership and respond well to direct mail.
Target specific age groups according to remodeling projects with the most appeal: Baby Boomers, incorporating music, home automation and other lifestyle enhancements, and Millennials, entertainment areas, such as living rooms and outdoor areas.

9.
New Media Strategies
Although most remodeling remodelers are unconcerned about any competition from e-commerce, they must utilize and constantly update their listings on Google, Renovate America (free), Home Advisor and Houzz (a fee) and similar sites.
Experts predict a shift away from strictly in-home selling to a hybrid of in-home and online selling. Websites can be used to present a remodeler’s experience, expertise and portfolio and to interact with customers on product selection.
Video is an essential social media content format and excellent for before-and-after presentations of recent projects as well as the owner and/or crew members revealing their attention to detail and remodeling insights that enhance any project.

10. Title
Body copy