As the coronavirus (COVID-19) outbreak continues its movement throughout the U.S., the nation’s economy is facing a challenge like never before. Amid the uncertainty, one of the first chances of the economy’s revival comes in a form that’s just as unprecedented.
It’s because after months of wavering performance, the recovery comes from large spending in the sector of home improvement.
Soon after consumer interest strengthened in May 2020, the industry started enjoying an upwards tick in sales across furniture, storage, home appliances, and hobby equipment. Despite the advancement of COVID-19, this level of interest is still going strong and currently also extends to constructional renovations.
Need for Multipurpose Spaces Fuels the Demand
According to industry experts as well as construction service facilitators, the demand in home improvement projects largely stems from the need for multipurpose spaces during the pandemic.
With much-needed restrictions on social gatherings and public spaces, homeowners are realizing that their living space needs to fulfill various needs at once. Now, it needs to be a work environment, an entertainment hub, an activity center, and a fitness haven all at once.
As a result, home improvement has expanded beyond the purchase for home office products that are needed to fuel the work from home (WFH) movement. People are also spending on TVs and gaming devices, multi-functional storage, kitchen and laundry appliances, as well as gym equipment.
The Uptick is Influencing Product Purchases and Construction Projects Alike
Due to the desire to get the most out of their living space, homeowners aren’t stopping at buying a bunch of furniture and calling it a day.
Those who can afford small renovations are also putting in the work for their required constructional changes, which often requires the help of licensed contractors.
Some are finding help through contractors that they already know and trust, while others are looking towards third-party services that connect homeowners with contractors.
From there, contractors follow through the projects while complying with physical distancing and other safety practices. This has allowed home improvement projects to go through without putting anyone’s well-being at risk, which has provided the industry the required push it needed to make it through the pandemic.
Time Plays a Big Role in Boosting These Projects
One of the reasons why home improvement projects are gaining so much traction is because homeowners now have some added time on their hands.
Searching for contractors, finding design ideas, and going through specific features doesn’t chip away at the time for social gatherings and outdoor activities anymore. Due to this reason, homeowners are feeling more comfortable in pulling off larger renovation projects.
From adding some storage space through luxury closets to executing flawless kitchen remodels, homeowners are able to oversee a project to its last detail.
As a result, those who take up these projects during the novel coronavirus outbreak are enjoying the fruits of their labor. This also indicates that if you were putting off a home improvement project due to the COVID-19 outbreak, visiting your renovation idea during the current time can pay off in the long run.