Modernize Reveals Consumer Trends Toward Online Research

March 18th, 2019 by Drew Vass, Executive Editor

A recent study released by Modernize, an online home services listings and leads provider, sheds light on how homeowners educate themselves and make decisions regarding contractors and financing for projects. In its latest Homeowner Index, a quarterly research study that measures sentiment among thousands of U.S. homeowners, Modernize summarizes the ongoing study for contractors, to serve the market through analysis of trends. The related survey includes homeowners currently considering windows, roofing, solar or heating and air conditioning projects.

Findings

The latest installment finds that 51 percent of homeowners consume online articles as a primary source for research on home improvement projects. With 35 percent of homeowners spending between one and five hours investigating a project before submitting a request and a full 28 percent spending more than 10 hours on research, it’s suffice to say that a substantial amount of time is spent online ahead of reaching out to contractors.

Research farther shows that, when selecting a contractor, homeowners avoid those with bad communication skills, with 23 percent listing it as a factor that would prevent them from hiring. However, only 6 percent listed “ego” as a factor that would preclude hiring.

“The continued prevalence of homeowners’ online research for information and guidance on their home improvement projects points to the importance for contractors to communicate and make connections online,” says Jason Polka, CEO of Modernize.

It is shown that 86 percent of homeowners surveyed had not created a budget for their projects, whereas 58 percent discontinued projects finding them to be too expensive. Across all trades, 42 percent of homeowners said they would finance up to half of their projects, while 19 percent would finance entire projects.

“The homeowner’s lack of knowledge about costs reinforces the need for contractors to educate customers about financing, so that homeowners can have more confidence,” Polka adds. “Homeowners go online to get quotes and find ways to pay for their home improvement projects. Contractors should capitalize on those needs by having their websites educate and inform homeowners on the financial options.”

Daniel Snow, operations manager for Glass.com, a web-based tool that connects consumers with glass and glass-related products and services, backs up this fact with individual site statistics. “Approximately 80 percent of Glass.com’s visitors enter the site through the educational blog resources,” says Snow. “Consumers want to be educated about their options before meeting with a professional, so they’re not going into it blind and relying solely on one source.”

Officials for Modernize say the study is ongoing.

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