Between rising material costs, labor shortages and project delays, the 2020’s have been off to a rough start for remodelers. However, key indicators show that we may actually be in the “golden age of remodeling,” according to Remodel Magazine.
Remodel Magazine spoke with Todd Tomalak, principal of building products at Zonda. Tomalak thinks remodelers shouldn’t be concerned.
“What we have is a tailwind factor that we didn’t have before, the raw count of homes that are in the 20- to 50-year-old window that will have to be updated,” Tomalak says. While spending slowed during the pandemic, Tomalak predicts consumers will begin to spend more on home improvements. “It’s a prime time for discretionary projects,” he says.
Moreover, homebuyers may not have been able to afford their ideal home. So, buyers may have settled for more affordable properties in need of updates. Those homeowners will invest in interior home improvements, so there will be plenty of demand for contractors.
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