With more than 8,000 home improvement dealers in our nationwide network knocking out one upgrade after another, Foundation Finance has a pretty good read on popular home improvement activity. Interiors are getting valuable renovations and home exteriors are getting much wanted facelifts.
Here鈥檚 what we鈥檙e seeing, in order of top activity, from dealers in our home improvement financing network.
Multiple Projects
This tops the list of renovation activity with over a quarter of our dealer network managing multiple projects for a homeowner, versus one focused project. Apparently, spending a year at home during a pandemic lengthened the home improvements checklist!
Homeowners are ready for the overhaul. According to Jean Brownhill, founder and CEO of聽Sweeten,聽a platform that matches renovators with general contractors, it鈥檚 better to renovate the entire house all at once. Although it requires more time, effort and money, our Foundation Finance contractors have that covered.
Windows
Given a global spotlight on energy efficiency, plus just bringing more light into homes, window installations are 2nd on our list of top home improvements. Adding large windows to allow in more natural light and make living spaces appear bigger–and look better–are top reasons homeowners are requesting upgraded windows. They鈥檙e also quite pleased that new windows can increase their home鈥檚 value and improve energy efficiency.
Roofing
Whether it鈥檚 repairing an aging roof or wanting to transform the home鈥檚 curb appeal, roofing comes in a strong 3rd in contractor activity. From mixed materials and concrete shingles to solar reflectance and Energy Star-rated materials, these new roofing trends are increasing in popularity this year.聽We know homeowners are ready to finance larger projects–and apparently our dealer network knows this, too!
Water Treatment
Additional filtering to remove聽pollutants and chemicals聽from a home鈥檚 drinking water has become necessary in cities across the U.S.聽and many homeowners are turning to whole home filtration systems. It makes sense that water treatment installation settles into the 4th top home upgrade within our network. While whole home water filtration systems are a worthwhile investment, many are also an emotional investment. Homeowners often don鈥檛 have the savings for this type of install, but they want it none the less. That鈥檚 where affordable financing makes a valuable difference.
Siding
Homeowners are learning that improvements to their home鈥檚 exterior are worth the money. And new siding makes the 5th in our list of top home improvement activity. We think they鈥檙e doing good research, because the 2020 Cost vs. Value Report says you鈥檒l recoup 74-77% of your investment with a siding replacement. Financing plays a big role in this improvement!
The list continues with activity in HVAC, exterior, bathroom, and kitchen upgrades. Data shows that financing closes more sales in both small and large home improvements. From the activity occurring within our dealer network, it鈥檚 evident that homeowners are embracing the benefit of affordable financing through their home improvement contractors.
You can build on us. Enroll free in the Foundation Finance dealer network. Contact us for more info:聽855-241-0024, [email protected].
