Published On: Fri, Jan 22nd, 2021

Home Improvement & Renovation Industry Will Grow In 2021

home-improvement

Due to Covid-19, the global economy has been affected a lot all around the world. Many established businesses have faced big losses whereas the startups have ruined their businesses.

But here is good news for the home improvement and renovation industry as it will grow in the year 2021 as well.

A new article has been published in Research and Market and they have claimed that the sales in the home improvement and renovation industry will stay strong even in 2021.

This article is backed by the Joint Center for Housing Studies of Harvard University. It shows an increase of 4.1% in budget spending on renovation and repairs during the 1st quarter of the year 2020. It also shows a fall of 1.7% for the same in the third quarter.

According to the study, people have spent most of their time in their homes due to lockdown. They finally get some free time to look for the repairing and renovating issues of the home. They also need to use the same house for new purposes like, they have to do their office work from the same house, kids have to do their school work.

The trend was started in 2020 due to the pandemic and it is expected that this trend will further increase in 2021 as well. People who have to spend their time in home renovating project they got confidence now and they are eager to make more improvements in the home as they still have to spend some time this year

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They have to work from home, kids have to do the school work at home and most of the shopping is also online, no need to go out. So, anyone can expect that sales in the home improvement and renovation industry will further grow in 2021.

Where to Spend Money for Home Improvement?

In the survey, 40% of consumers told that they started taking interest in DIY home improvement projects because they had so much free time at home. Whereas 59% of the consumers also said that they will keep doing the DIY home renovation projects for the coming days in 2021 even after the pandemic ends.

Now the question is where to spend your money as a newbie DIYer? Here you have to two options:

Buy DIY Tool Kit

You can buy a DIY tool kit that will have many tools that are helpful in little DIY projects. These tools will have a claw hammer, a measuring tape, insulated pliers, a Stanley knife, a set of screwdrivers, and a few more things.

This tool kit might also have a hot glue gun that is often used in DIY projects. You can also buy a drill machine that can be used in different types of small home repair and renovation projects.

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Buy a Smart Water Leak Detector

Detection of water leaks can be difficult sometimes if it is from the underground plumbing supply. If you failed to detect the water leak then it could create a mess in the house and you need to do a lot of home repair work that will include repairing cracks in the foundation, repairing electrical wiring, repairing electrical devices, redoing the wall paints, and obviously, repairing of the plumbing lines.

So, if you want to get rid of all this trouble, you should buy a smart water leak detector or sensor. It will detect the leak automatically and will inform you. It will also stop the water supply to that specific area from where it detects the leakage.