home improvement

Millennial homeowners have done the most home improvement projects during extra time spent in the house

Millennials are getting handier around the home since lockdown measures began, according to new research.

In fact, a poll of 2,000 homeowners found that compared to other generations, millennials have been the busiest, with 81 percent having tackled a home improvement project since March.

Conducted by OnePoll in conjunction with Bernzomatic, a manufacturer of handheld blowtorches, the survey examined the various home improvement projects American homeowners completed while stay-at-home orders have been in effect — and looked at why they’ve taken them on.

SWNS

For 65 percent of those polled, a project was done to save money while 49 percent simply needed something to keep themselves busy while being in lockdown.

Overall, the average homeowner has already attempted four different home improvement projects since March — guesstimating a savings of over $160 just by trying a project themselves.

All this, without the help of an outside contractor (47 percent opted not to), taking these homeowners from DIY-ers to “figure it out yourself-ers.”

From painting in the house (32 percent) and working on landscaping projects outside (29 percent) to re-caulking (27 percent) and re-tiling kitchens and bathrooms (24 percent), homeowners have kept themselves busy these past six months.

And keeping busy may have just led to new hobbies. Seventy-three percent of those who tackled a home improvement project on their own revealed that afterward, they felt resilient enough to keep taking on more projects and 67 percent of homeowners look forward to tackling more projects in the future.

“There is nothing quite like the feeling of accomplishment after your first successful DIY project to make you want pick up the toolbox and search for the next,” said Janna Stanford, senior marketing manager at Bernzomatic, a brand of Worthington Industries Retail Products division.

“These past few months have inspired people to finish

Urban flight means home improvement trends will become a sustained shift

People walk into a house for sale in Floral Park, Nassau County, New York, the United States, on Sept. 6, 2020. Home buyers eying for cozy backyards and more office space are staging bidding wars in the suburbs surrounding New York City amid the spread of the COVID-19 pandemic.

Wang Ying | Xinhua News Agency | Getty Images

As some Americans flee cities and move into suburban or rural areas during the coronavirus pandemic, some analysts are predicting home projects and repairs will shift from a trend to long-term habit.

That could add up to more sales for Home Depot, Lowe’s and other retailers with a wide variety of home improvement items, from paint and tools to kitchen appliances, according to a Wells Fargo Securities research note. Those retailers have already seen strong sales and growing profits during the pandemic, as Americans spend more time in their homes and dollars they would have otherwise doled out for restaurant bills or summer vacations.

The suburban shift could also benefit auto-focused retailers, such as Carvana, AutoZone, O’Reilly Automotive and Advance Auto Parts, according to the note.

In the research note, Wells Fargo senior equity analyst Zachary Fadem spelled out factors that have driven some people out of cities. Among them, he said, about 65% of early Covid-19 cases were concentrated in dense cities. People have sought out more space as they work and learn at home and as aspects of city life from public transit to high-end restaurants are unavailable or unappealing.

He pointed to recent earnings reports by retailers that soared past Wall Street expectations, citing de-urbanization as one of the causes.

A survey of about 1,000 consumers by the Wells Fargo analysts found that more than 88% planned to increase their retail spending in the second half of the year

DIY Home Improvement Market Projected to Reach $1137.57 Billion by 2025, at a CAGR of 4.8%

The MarketWatch News Department was not involved in the creation of this content.

Sep 08, 2020 (AB Digital via COMTEX) —
Home Improvement Market is valued at USD 819.53 Billion in 2018 and expected to reach USD 1137.57 Billion by 2025 with the CAGR of 4.8% over the forecast period.

Increasing development of the construction industry, increasing population, reducing living space, adoption of innovative interior & exterior like garden, smart kitchens etc.  are some  key impacting factors deriving the growth of the global DIY home improvement market. 

Get Sample Report: @ https://industrystatsreport.com/Request/Sample?ResearchPostId=12886&RequestType=Sample

DIY home improvement is a service refers to building projects that alter the structure of an existing home. It is used in renovation including improvements to lawns, gardens and outdoor structures such as gazebos and garages. It also incorporates maintenance, repair and general servicing tasks. End use of DIY home improvement is in residential and nonresidential buildings. Do-It-Yourself (D-I-Y) projects have become much easier for the average person. DIY home improvement  are very popular which helps to turn marginal areas into livable spaces such as turning basements into recrooms, home theaters, or home offices – or attics into spare bedrooms. Home improvement can consist of projects that upgrade an existing home interior such as electrical and plumbing, exterior such as masonry, concrete, siding, roofing and other improvements to the property such as garden work or garage maintenance.

DIY home improvement market report is segmented on the basis of product type, distribution channel, end-user and by regional & country level. Based upon product type, DIY home improvement market is classified into lumber and landscape management, décor and indoor garden, kitchen, painting and wallpaper, tools and hardware, building materials, lighting, plumbing and equipment, flooring and electrical work. Based upon distribution channel, DIY home improvement market is classified into DIY shops,

Why Home Improvement Has Surged And How It’s Changing America : NPR

“It used to be a backyard. Now it’s a summer oasis,” says Astoria Camille of the water feature she built in her mother’s Kansas City, Mo., backyard using an old stock tank and 53 bags of pea gravel.

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“It used to be a backyard. Now it’s a summer oasis,” says Astoria Camille of the water feature she built in her mother’s Kansas City, Mo., backyard using an old stock tank and 53 bags of pea gravel.

Frank Morris/KCUR

The sound of power tools is roaring in neighborhoods across the United States.

In the Brookside neighborhood in central Kansas City, Mo., John Buhr has do-it-yourself projects going from top of the garage to the basement.

“As soon as COVID hit, we needed someplace the kids could play,” Buhr says, noting that neighborhood parks were closed. “So we put a playhouse down [in the basement] first and then found the kids liked it so much that we went ahead and built a living room. And then my wife needed the space to work.”

So now Buhr is building an office for his wife in what was an unfinished attic above the garage. He’s also working on a self-contained apartment for his parents and in-laws to use when they’re in town for extended babysitting visits.

“This all kind of became immediately necessary, thanks to COVID,” Buhr says.

John Buhr now devotes much of his time to fixing up his family’s home in Kansas City. He’s building a playhouse for his young children, an apartment for the grandparents to use on their extended babysitting visits and an office for his wife, who supports the family working in the tech industry.

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Necessity is one factor driving the building boom.

Malaysia’s largest home-improvement retailer seeks $361m in IPO

KUALA LUMPUR — Home-improvement store operator Mr DIY Group of Malaysia opened its initial public offering for bids, aiming to raise 1.5 billion ringgit ($360.6 million) in what would be the country’s largest stock market listing since 2017.

The company on Tuesday unveiled its prospectus, an important step to listing on the main board of Kuala Lumpur’s stock exchange, known as Bursa Malaysia. Mr DIY’s first two attempts at listing — late last year and the first half of 2020 — were shelved amid the coronavirus pandemic.

The offering would give the company a market capitalization of 10 billion ringgit post-IPO, CEO Adrian Ong said at an online news conference after the prospectus was released.

Mr DIY is targeting a retail price of 1.60 ringgit a share, with the institutional offering consisting of 779.95 million shares and 161.53 million shares allocated for the retail offering.

“We today have a 29% market share of the overall home-improvement retail market in Malaysia,” he said, adding that the company has been growing faster than the country’s annual industry average of 10.2%.

“About 300 million ringgit [of the IPO’s proceeds] would be mainly used to repay existing debts,” Ong added.

The offering would be the largest in Malaysia since chemicals producer Lotte Chemical Titan raised about 3.77 billion ringgit in July 2017.

Since Mr DIY opened its first location in 2005, the company has fast grown into Malaysia’s largest home-improvement retailer, with 674 stores across the country and four stores in Brunei. In addition to the Mr DIY core brand, the company also operates two other store chains: Mr Toy, which sells affordable toys, and Mr Dollar, which offers a fixed-price point model.

“We are adding stores at a very fast pace, which suggests that we have confidence in the business,” Ong said. The