When monthly incomes are stretched due to high prices, rising mortgage rates and general economic instability, it’s easy to think budget is the main challenge for homeowners who want to renovate. According to the latest Houzz research, budget is indeed a big factor, but the picture is more nuanced than that – time constraints, an inability to find a professional, and a lack of knowledge can all impact on how and whether someone embarks on a renovation project.
Take a look at the findings of the 2023 Houzz Homeowner Activity Study* to discover the issues your potential clients might be facing.
*A survey of 978 UK homeowners, including 255 that completed their renovations in the past year; 345 in the middle of renovations; 139 that are starting their renovation project in 2023; 117 that are starting their renovation project in 2024; 5 that cancelled a project planned to start in 2023, and 117 that are holding off on starting a renovation project.
Why would a client delay a project?
The biggest reason for someone delaying a project, according to the respondents in our survey, is that they don’t have a pressing need for it to be completed right now. 26% of those who put off their plans in 2023 said it was because the project wasn’t urgent – slightly more than the 22% of respondents who said they currently couldn’t afford it.
A lack of time is also an issue for 21% of those who took part in the study and delayed their renovation, suggesting they envision the project will take over quite a bit of their day.
The fourth factor influencing the decision to delay is pro availability, with 17% of homeowners saying they’re waiting for their renovation professional to have time to start.
What would make a homeowner cancel a project?
There’s no doubt that homeowners are feeling the pinch right now, with 60% of our survey respondents saying they’d cancelled their project due to not having enough budget. Related to this is inflation, as 40% said that high and volatile prices prompted them to cancel their plans.
Time is again an issue, however, with 40% saying it’s not a convenient time for them to take on a renovation, and the same number saying they themselves don’t have time for it.
What prompts a homeowner to commit to a project?
It seems that budget isn’t putting everyone off renovating, according to the survey. Around half of those who are either planning to upgrade or have already upgraded recently say they currently have the financial means to do so.
Similarly, time can have a positive impact for some, with 34% of those who’ve already upgraded this year saying they did so because they had the time.
Other major reasons for deciding to stick with a current project are that the homeowners have recently moved in (36%) or that they need to adapt to family or lifestyle changes (20%).
Is budget a key challenge for clients?
Yes, is the short answer, according to 41% of those survey respondents who are making home improvements right now.
Of those who’ve just completed their project, 29% said staying on budget was one of their top three challenges – in third place behind finding the right professional and finding the right products and materials.
Do clients find it hard to find the right person for the job?
Finding the right professional is a key challenge for many homeowners, according to our survey, and in fact it was the main stumbling block for more than half(53%) of respondents who have recently completed their project.
You can help potential clients with this issue by ensuring your online profile is as informative as possible. Upload good-quality photos with clear descriptions to your Houzz profile and website, so homeowners can easily see your style and skills, and encourage previous clients to leave a review, as this helps to build trust for customers who are searching for a renovation pro.
Seán McAlister of Pencil and Brick, who designed this project, says a number of his clients find him through Houzz. “Lots of people have clicked on one of our images on Houzz, or they’ve used the button on our profile to send a question through Houzz, or we’ve been matched with them via the Project Match tool,” he says.
What else do clients find challenging?
Other major problems for renovating homeowners, according to the study, are visualising the end result before work begins (20%), finding the right products and materials(36%), and researching information on how to proceed (19%).
This suggests they would really appreciate working with professionals who can share the design process and vision with them in a way they can understand.
There are some great Houzz Pro tools that will allow you to do this, including the Moodboards, Product Clipper and Room Planner features. Megane Leeding of Ivywell Interiors, who designed this house, says, “We use the 3D Floor Plan the most, which is great to quickly put together initial room concepts, and the walk-through feature [where homeowners can get a real feel of the proposed scheme] allows us to capture specific details we want to draw attention to.”
