Your potential customers spend hours poring over magazines, books, and websites to plan their remodeling projects, so it’s only natural they’ll be influenced by what’s trending. Keeping up with those trends gives you an edge on your less savvy competitors.
Gaining Insight from Trending Home Features
Trends have a strong influence on the features your would-be customers decide to include in their remodels. Even trends in home features you don’t provide can give you clues on what those trend-following homeowners might buy from you. If there’s an increase in solar permits issued in a certain neighborhood, chances are those homeowners will be interested in other eco-friendly, energy-saving upgrades. They might be looking to install energy-efficient doors and windows, redesign their interior lighting or hire an insulation contractor.
In a neighborhood where swimming pool permits are on the rise, the homeowners there are likely good prospects for luxury home features. If you’re a general contractor, these are people who might hire you to create their gourmet kitchen or spa bathroom.
Paying attention to the top builders and contractors in your area can also guide you toward profitable markets. If several companies are having great success with remodeling attics and basements, you’ll know that’s a trend worth looking into.
Profiting from Local Style Trends
While the media can keep you up on what’s in style around the country, trends vary by locality. Reviewing the data from your region gives you a more accurate picture of what your prospects might want from you.
Maybe you sell countertops and cabinets, and notice most kitchen remodel permits are issued to homeowners in a wealthy area. You’ve just found a good market for high-end products. If it’s a middle-class area where most of the kitchen remodeling is going on, it makes more sense to focus on practical, budget-friendly options.
If you notice the kitchens successful local contractors have remodeled often include dark-toned cabinetry or cabinetry with hidden storage, you can get ready to supply the same.
For more insider info on current home remodeling trends, contact us at Construction Monitor.