Modernize Home Services has released its quarterly homeowner insights analysis, resulting from a recent survey where more than 6,500 homeowners shared their plans for upcoming home improvement projects. The Fall 2021 Homeowner Survey shows that nearly two out of five are pursuing projects to save money in the short- and long-term. The extensive survey covers homeowner behaviors, future project planning, budgets and financing, preferences and more.
Modernize surveys thousands of homeowners every quarter to provide insight into what drives them to start home improvement projects. These results offer contractors an exclusive and competitive look into the latest homeowner trends and behaviors, which can be leveraged to help them understand their customers and grow their businesses.
Key Homeowner Insights
- 39% of homeowners plan to pursue additional home improvement projects over the next year
- While the majority of homeowners are repairing damage, 37% are pursuing projects to save money on monthly electricity and utility bills, and 19% are looking to increase the value of their home
- 72% plan to budget $5,000 or less on their upcoming projects
- If financing were available, 34% of surveyed homeowners would finance their entire home improvement project
Trade-Specific Highlights
Roofing
- More than 50% of homeowners plan to install gutters or gutter guards during their roofing project
- If financing were available, 36% of homeowners would seek to finance the entire roofing project
Solar
- 58% of homeowners pursuing projects are not aware of the current 2021 federal residential solar energy credit
- 22% of homeowners plan to spend more than $10,000 on their solar project
- Approximately 83% are installing solar to save money on utility and electric bills
Windows
- 67% of homeowners wish to finance some or all of their upcoming project
- o 84% plan to spend $5,000 or less
HVAC
- More than half of homeowners pursuing HVAC projects are turning to Modernize to compare HVAC contractor quotes to find the best price
- 65% of homeowners are budgeting between $2,501 and $10,000 for their HVAC project
The survey was conducted on the Modernize Home Services website from September 20, 2021 until October 11, 2021, with 6,589 respondents in the United States. A demographic snapshot of the participants:
| Modernize homeowner’s age, across trades | Modernize homeowners, across trades |
| 18-24 years old: 1% | 32% are first-time homeowners |
| 25-30 years old: 2% | 26% are second-time homeowners |
| 31-40 years old: 6% | 9% of homeowners own multiple homes |
| 41-50 years old: 12% | 33% live in their forever home |
| 51-60 years old: 36% | |
| 60+ years old: 43% |
