Good News for Contractors: More People are Seeking Renovations in Their Homes

Increased home renovations means 2015 is looking good for contractors. ©iStockphoto.com/Halfpoint

Increased home renovations means 2015 is looking good for contractors. ©iStockphoto.com/Halfpoint

The number of homeowners looking to renovate their homes is expected to increase exponentially this year. According to a contractor study that included 5,000 architects, remodelers, interior designers and more that took place in the beginning of this year, a large majority reported increased revenue and a positive rate of growth last year.

Around 40 percent of the firms that took part in the study reported an increase of 15 to 24 percent in revenue, while almost 10 percent of firms reported a 50 percent increase in revenue growth in 2014. While not everyone is experiencing growth like this – many have pointed out the increase in overhead costs, from material prices to product price – a large percentage of firms are and the market has been much better since the recession in 2008, when business was at rock bottom. Professionals believe that 2015 will be an even better year, with 80 percent of firms predicting growth in gross revenue and in profits.

Last year was a great year for contractors and this year is expected to be even better. For information about getting wood for your construction projects in Kansas City, be sure to contact us at Schutte Lumber today.

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