Homeowners Choosing Popular Upgrades as the Economy Recovers
Posted by admin on Aug 01, 2014
In this current recovery, homeowners are becoming more confident, demonstrating pent-up demand for home and building products. The remodeling industry is experiencing a steady uptick, as the nation’s recovering economy encourages renewed homeowner investment. Following one of the most significant plunges in the U.S. real estate channel’s history, homeowners are now opting to consider their existing space for their residential upgrades.
“During past recessions we experienced mortgage applications declining while interest rates rose resulting in a drop of new homes being constructed,” explains Steven Kleber, president of the National Remodeling Foundation. “Remodeling permits by contrast during those cycles traditionally increased, as homeowners sought to capture equity in the rising values of their homes. However, during the most recent housing crisis, remodeling permits simultaneously decreased in concert with new home construction as foreclosures and declining home values combined negatively to shake homeowner confidence. The good news is we’re finally seeing evidence of that long anticipated turn around.”
In fact, The Conference Board this week reported that their July Consumer Confidence Index soared to 90.9, the highest level since October 2007 while they forecast that the trend was likely to continue.
Stainless Steel and the “Pro-sumer”
A new type of consumer – the “pro-sumer” – has emerged during this current wave of remodeling. These homeowners desire commercially proven, professional grade products that are fabricated and re-purposed for specific residential applications.
For example, the Feeney, Inc. LED Rail Light Kits for DesignRail® provide unique illumination for outdoor living environments for consumers looking no further than their own backyards for home space to improve. Originally designed for use on sea-faring vessels to resist nature’s destructive forces upon sails, Feeney’s stainless steel CableRail railing products are finding a new market among homeowners who desire attractive deck railing that won’t impede views of their landscape.
Stainless Steel Cabinetry is Popular
Similar in attributes, stainless steel cabinetry is gaining popularity in weather-sensitive, outdoor living applications. Consistently specified by restaurant designers for commercial kitchen surfaces where durability and easy-to-clean performance has been critical for food preparation areas, stainless steel now is being fabricated into cabinetry by Danver – made in America in Wallingford Connecticut. For many consumers, not just any plain silver grey finish will suffice and responding to that demand, Danver has introduced coated stainless steel doors in designer color finishes including wood grain patterns that now provide homeowners with outdoor kitchens that feature every convenience of traditional interior environments.
Social Cooking and Living Life Inside-Out
Recently the kitchen has become a room for communal activity, as food preparation and bartending bring people together in social gatherings and at parties. Today’s outdoor kitchen has followed suit, expanding far beyond the lone barbeque grill with appliances such as the Evo cooktop that connect multiple cooks and dining audiences to engage in social cooking experiences out-of-doors.
In an effort to enjoy outdoor living through all four seasons, homeowners are seeking greater year-round shelter from nature’s elements. Walpole Outdoors pergolas are an attractive choice among renovators and come in a variety of colors applied to easy-to-maintain cellular PVC available in convenient, ready to assemble kits and with retractable ceiling screens.
Sometimes Only Real Wood Will Do
When it comes to curb appeal, homeowners are making high impact home fashion trend statements with simple replacements of their front doors — increasing their homes’ energy efficiency, while setting architectural style highlights at their guests’ first point of contact when they visit.
While fiberglass and steel doors remain popular choices, some homeowners demand the authentic aesthetics that only real wood doors provide. Yet, wood doors traditionally have inherent maintenance costs that restrict greater audience acceptance. Not anymore. The collection of Masonite Torrefied doors are fabricated through a process that actually heats the door during manufacturing, increasing its resistance to natural rot, weather and termites. What’s more and as an added bonus, the doors take on an attractive toasty brown finish that accentuates natural graining patterns.
“Ultimately, consumers need to be aware of the industry’s leanings towards renovating and upgrading existing space,” states Kleber. “In coming years, smart homeowners will undoubtedly experience a significant return on investment for the improvements they’re making now.”
Kleber & Associates is an Atlanta-based integrated marketing communications agency serving the home and building products industry for 25 years. Visit the Kleber & Associates website for the latest news and information about marketing for home and building products for consumers, architects, builders, remodelers, designers and manufacturers. Through our marketing, advertising, public relations and digital marketing expertise — we build better brands that build a better home.