Since the pandemic induced lockdown, there’s been a dramatic change in the behavior of homeowners. Many homeowners have tilted towards making proactive improvements and repairs in their homes. Data from homeowners shows that 71% made improvements and repairs to their homes recently. They also affirmed that these improvements/repairs would be a continuous project, done periodically over time.
What Has Led to This Proactiveness Among Homeowners?
The reason for these dramatic changes makes sense when you consider that the lockdown made people spend more time at home. During this time at home, many people began to realize that they should give more care to their house. No one knew how long the pandemic was going to last. If they were going to be home for longer periods, then their homes had to be in the best shape. Many homeowners made repairs and improvements to increase the appeal and aesthetics of their house.
Surviving the lockdown wasn’t a small feat for some homeowners. If improving their homes was going to help their mental health, it was worth it. Changing the furnishings, aesthetics, and interior decor of the house can be very therapeutic. Of course, this doesn’t represent the predominant thought of several homeowners. Some homeowners made these improvements and repairs because of remote work. They had to work from home, so there was a need to make improvements and repairs to create a workspace in their homes. This also meant they bought lots of office equipment.
Statistics Related to Home Repairs and Improvements During COVID-19
Surveys revealed that 52% of homeowners bought office equipment and 35% of them spent money on living room décor during COVID-19. More than 65% of homeowners spent more than $1,000 on their home improvements and repairs. The backyard was where the most money was spent, followed by the kitchen, home offices, and home gyms. These stats only point to one thing, and that’s the fact that the pandemic made people see their homes as a place to relax, spend quality time, and work remotely from home.
There’s a rise in the number of homeowners who spent more than $10,000 in the past year also. This percentage doubled in the last year and surpassed the average of previous years. Millennials are taking the lead in improvements and repairs. They have made the most improvements and repairs to their homes for reasons other than remote work. A number of them make these improvements for the sake of hobbies, with 70% making these improvements and repairs to take their hobbies to the next level.
The odds are high that homeowners would keep up with the improvements and repairs of their homes, considering how they have found them to be rewarding in the long term. In addition to making improvements and repairs to your home, make sure to have adequate home insurance coverage to protect yourself from unanticipated future events. To learn more about homeowners insurance and different coverage options, contact our experts at ISU-Wissink Agency today!