When you think of summertime, what images come to mind? The beach? A tall glass of lemonade? Sitting poolside? For companies like yours, summer brings a host of other ideas to mind: specifically, a busy sales season. There are multiple reasons why summer is an excellent time for your customers to research and plan home improvements and renovations, such as:
The ease and popularity of staycations
Time to think and pursue the repairs or improvements they need to make
Jumping on board the hot “smart homes” trend
No matter the reason: now is the perfect time to make home improvements, and many businesses are feeling the summer crunch.
Customers staying put instead of moving – they need home improvement services now more than ever
Did you know that 2018 was one of the most significant years ever for home remodeling and renovation? Moreover, according to the Home Improvement Research Institute, 2018’s home improvement sales numbers will be superseded by 2019’s success by as much as 5%.
Simply put, many Americans are “staying put” and making their homes better, rather than purchasing new homes. This is evidenced by the rapid growth of existing housing maintenance and sales reports from some of the big box chains.
Here are three trends influencing today’s homeowners to renovate:
1. The popularity of staycations and real estate opportunities
It’s no secret that the idea of a “staycation” has become increasingly popular in the U.S. Many people view going out of town on vacations, especially during the summer, as a hassle. It’s easier and oftentimes cheaper to stay home and enjoy local sights, renovate and entertain, all from the comforts of your own house. As a result, homeowners want to make sure their home is as comfortable as possible.
Summer is also when the real estate market ramps up. If families are looking to move, this is when they put their homes up for sale, so they can be settled somewhere new before the start of the new school year.
2. Time to think about on and off-season planning
Whether it’s ensuring their air conditioning unit is functioning correctly or daydreaming of sitting poolside in their own backyard, homeowners have the time and capacity during summer months to deal with things they need for their homes now. They may even be planning for off-season needs, such as total HVAC replacement, heating or roofing.
No matter the reason, your customers are thinking about home improvements and additions that will make their home more comfortable and add value. It’s the perfect opportunity for customers to call you, and you want to be ready to offer them your services as well as the financing they need to get the job done.
3. Homeowners want smarter homes
One thing today’s homeowner wants more of? Smart home technologies – they are the hot home improvements for 2019. The ability to manage a house from the palm of your hand is incredibly appealing. In fact, 70% of homeowners, who own even one smart device, plan to purchase additional smart devices or products for their homes.
Whatever renovations your customers are researching, you can bet that financing their home improvement or repair project is at the top of that list and on the top of their minds. While some homeowners want the professionalism and the experience of a service provider, others may simply see the job as “too big” for them to handle on their own. Either way, homeowners have increased their spending on home improvement projects by as much as 20% from 2016-2018 (HIRI), and this is the peak season for pursuing those projects.
Financing a home improvement project can be tricky and challenging for consumers, but the desire to improve their living spaces this summer is there. One way to differentiate your business and assist your customers or prospects with their project is through offering easing financing solutions with Alabama Power’s Smart Financing app. Our Smart Financing app can provide your customers with the financing they need to get the project done.
Follow the trends and equip yourself with the tools needed to not only perform the work, but finance the work
Contact us today with any questions and become one of our Smart Financing allies before the rush of the busy season is upon you. We would love to work with your business!