Pandemic Brings DIY Surge
According to the updated NKBA 2020 Market Outlook, the second quarter saw 18% of all remodels performed by family/friends, vs. just 6% in Q1.
By Robert Isler
NKBA’s September update of its 2020 Market Outlook revealed that homeowners were giving K&B remodeling a second look, although there was a shift in the price points and methods used to get there. Nearly 1 in 5 (18%) of remodels relied solely on family members or friends to get the job done, compared to a scant 6% in Q1. An additional 35% made exclusive use of DIY, well above the 25% for Q1 projects.
Combined, more than half the active Q2 K&B projects avoided an outside professional entirely, well above the 3-in-10 jobs for the previous quarter. The reasons behind the shift were not all that surprising. Homeowners remained skittish about having workers in their homes during a pandemic, economic uncertainties made the less expensive DIY route more palatable, and, in many markets there simply was no other choice due to the shortage of available professional remodelers.
A sampling of comments by survey respondents about their decision to go the DIY route confirmed the new covid-era dynamics: “I don’t want strangers in my home during the virus,” “I was originally going to hire a contractor, but decided it was smart to save $5,000 right now,” “Labor costs were over $15,000!! We decided to rely on YouTube to DIY,” and “Remodelers are too busy right now and we needed to get a bathroom done for the kids.”
The good news was that 36% of homeowners were actively working on K&B projects during Q2, substantially higher than the 19% in Q1.
The good news was that 36% of homeowners were actively working on K&B projects during Q2, substantially higher than the 19% in Q1. More discouraging, however, was that because of the uptick in DIY-related projects, the average project spend dropped to just $6,000, nowhere near the cost of a full remodel, and less than half the $12,500 average of the previous quarter.
Among those who were actively planning a remodel when the pandemic hit, survey statements that resonated most regarding impact included “Budgets became more limited” (24%), “Project materials were not available” (21%), “I became more involved in project design/planning” (19%), and “We had more time to pursue DIY work” (18%).
Among homeowners who had cancelled projects or put them on hold, however, the outlook was decidedly optimistic. Only 18% had no plans to restart or couldn’t pin down future project timing.