The past two years have fueled a flurry of home improvement activity for much of the country. The rise of the COVID-19 pandemic kept people indoors, forced more time at home, and caused many to rethink the spaces where they spend much of their time.
While it may come as no surprise that stay-at-home orders inspired an increase in home office and home gym renovations, home improvement activity did not slow even as the country reopened. For most in the home and building industry, the uptick in projects has been a largely positive experience, inspiring hope after a period of great uncertainty. However, uncertainty still lingers in some areas in early 2022.
In an economy that moves off expected demand, unforeseen spikes result in material and labor shortages. For many, this has extended project costs and timelines. The Home Improvement Research Institute (HIRI) examined homeowners’ major barriers to completing home improvement projects during this unique time in the industry. The top challenges reported include:
From dealing with illness, social distancing, and closures to material shortages and shipping delays, the onset of COVID-19 presented new challenges for homeowners looking to complete improvement projects. In fact, time and cost were reported to be less significant barriers for homeowners than in 2019, while a shortage in materials and contractors is a bigger roadblock to getting the job done.
On the professional contractors’ end, the main reasons for project delays or stoppage also include material availability, material prices, and an underestimated amount of time needed for the project.
While only time will tell exactly what happens next, it’s clear that the demand for home renovations will be met with some give and take for the foreseeable future.
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