The pandemic turned our lives upside down. When we should have been enjoying a summer vacation in the Bahamas, we got stuck in our houses with nothing better to do than try out our grandmother’s cherry pie recipe. Were you looking forward to celebrating birthdays and anniversaries? Forget about them. The pandemic made it impossible to socialize for the last 10 months. Socializing isn’t just the same virtually as it is in person.
But if there is a silver lining in this (if you can call it that), it’s that home remodeling is more practical now than it was before the pandemic. The housing and construction industries are booming industries before the pandemic. However, as states closed borders in April and May, construction activities became far and in between. Now that economic activities are in full swing again, the industry is facing a terrible choice: try to recoup the losses over the past 10 months by increasing the fees or offer discounts and reduce prices?
Competition Is Tough
It seems for many general contractors and their sub-contractors that the answer lies in reducing their prices. With competition fierce as ever, this meant that contractors have to come up with strategies to attract clients. One of the ways they can do that is to offer their services at reduced rates. Yes, homeowners are reaping the “rewards” of stiff competition in the construction industry today.
Transforming the House
A kitchen remodel is in the works in Hannah’s house. Hannah is a 34-year-old mother with two kids. As the pandemic hit the country, she has to think of ways to make their home more like the things her kids should’ve seen outside. One of the things that she focused on was remodeling the kitchen because she noticed how the whole family is spending more time there. They’re trying out recipes, waiting for her to finish the dishes, and even playing card games.
Hannah is not alone in that assessment. Jake, a 29-year-old real estate broker, began renovation in the basement and backyard of his home. If the pandemic will take away the outside world from his family, the least he can do is to turn their home into a space where the kids can still be active. It’s also important that he and his wife have their own home office space while the kids get to have their learning area for virtual classes.
Surprisingly, the pandemic became the best time to do this. Families who maintained their jobs and sources of income now have higher disposable income than ever. Companies are reporting that there has been a 58% increase in projects for home professionals in mid-2020.
People working on pools and saunas were the most in-demand professionals right now. It seems that homeowners want to turn their outdoor spaces into something that can provide entertainment for their kids. Not only that, since health experts are highlighting the importance of distancing and ventilation in curbing the virus, homeowners are also adding decks, pools, patios, and gardens to their properties with the hope that they can accommodate visitors in the future.
Since you had to cancel vacations and other leisurely activities, you now have extra money that you can put into remodeling your home. Sure, in a few months, things might transition to the new normal because of the Covid-19 vaccine, but people are still going to be wary about going out. There is still no vaccine for kids, so for them at least, parents want a space in the home where they can enjoy things they should’ve been experiencing outside.
While many people think online work and school are not susceptible practices, that doesn’t mean they aren’t the safest. So, although there is a lot of apprehensions about its sustainability, parents are adjusting their homes to fit in this new normal. They’ve made a lot of remodeling in their houses, taking down walls to create a bigger space. Contractors are opening up the layouts of many homes and creating sections and areas where the parents can work and the kids can learn.
There has been a lot of changes in the past year in terms of the way people live their lives both indoors and outdoors. It has been a hard year for many families. So, if you have the resources to renovate and remodel your home, count yourself lucky. Aside from the fact that remodeling will help adjust your home to the new normal, these economic activities will pump some blood into a flailing economy, too.