It promises to be an exciting year for contractors as they navigate the dynamic world of home remodeling. In fact, homeowners are increasingly seeking innovative and sustainable solutions for their living spaces. And this is driving the need for contractors to stay ahead of the curve. Therefore, let’s explore the top 10 remodeling industry trends for contractors to consider in 2024.
It’s clear that there’s a focus on key areas involving new technology and other considerations. This includes the effects of inflation, aging homes, and much more. So, let’s dive into the transformative trends shaping the future of the remodeling industry.
Top 10 Remodeling Industry Trends for Contractors
Home remodeling has become a major area of interest for Americans over the past few years. As a result, competition is reaching all-time highs for contractors across the country. And fortunately, new tools and innovations are bringing efficiency to the market.
Remodeling contractors who don’t stay ahead of the trends will surely fall behind. For example, the top 10 remodeling industry trends to watch in 2024 include:
- CRM software
- Payment systems
- Financing options
- Skilled labor onboarding and training
- Smart technology
- Sustainable materials
- Kitchen and bath remodels
- Aging home remodels
- Multi-generational home remodels
- Housing Market Challenges
Your business will face each of these trends head on in the coming year. In some areas, you may already be capitalizing on the changes.
Nevertheless, it’s important to gain a better understanding of these trends to prepare and adjust moving forward. Let’s dig deeper below and discover how you can transform your home remodeling business.
1. CRM Software Revolutionizing Project Management
The remodeling industry is witnessing a shift towards more efficient project and customer management through the adoption of CRM software. These tools streamline communication, track project progress, and enhance customer interactions.
With CRM systems tailored for the remodeling sector, contractors can manage leads, communicate with homeowners, and organize project details seamlessly. As we embrace the digital age, investing in user-friendly CRM software is essential for contractors aiming to stay organized and deliver top-notch service.
With Leap, you can manage every job from prospect to project completion. This includes instant proposals, contracts, and quick estimates. Manage every aspect of your business, from the office to the field.
2. Payment Systems for Seamless Transactions
The importance of reliable payment systems cannot be overstated. Contractors are increasingly turning to advanced payment processing solutions to facilitate smooth transactions and manage invoices effortlessly.
Integrating secure and user-friendly payment systems improves cash flow and the customer experience. The ability to process payments efficiently is a game-changer, creating a win-win situation for both contractors and homeowners.
Solutions such as LeapPay can help your sales team quickly generate invoices, track financials, and process payments faster than ever before. It also provides homeowners with the flexibility to make payments on the go!
3. Financing Options to Empower Homeowners
In 2024, offering flexible financing options is one of the key remodeling industry trends. Contractors are collaborating with lenders to provide homeowners with accessible financing plans.
This empowers homeowners to undertake larger projects and invest in high-quality materials without straining their budgets. By facilitating financing solutions, contractors can attract a wider clientele and ensure that home improvement dreams become a reality for more homeowners. Better yet, homeowners can get approval in seconds from multiple lenders when you work with the right software.
4. Skilled Labor Onboarding and Training
The shortage of skilled labor continues to challenge the remodeling industry. In response, contractors are investing more time and resources into onboarding and training programs.
By nurturing new talent and upskilling existing staff, contractors can address the labor gap and ensure high-quality workmanship. Providing ongoing training improves the workforce’s skills and fosters loyalty and commitment among team members.
This also ties directly into the transition to software solution. Specifically, the right software can help you easily train and plug in new employees. Onboarding is streamlined, saving your business time and money that can be used to bring in more jobs.
5. Smart Technology Transforming Living Spaces
Smart home technology is no longer a luxury; it’s a staple of the remodeling industry. From automated lighting to intelligent climate control systems, homeowners are increasingly seeking tech-savvy solutions.
Contractors are incorporating smart technology into their projects to enhance convenience, energy efficiency, and overall home value. As one of the newer remodeling industry trends, these advancements not only meet current demands but also future-proofs homes.
6. Sustainable Materials for Environmentally Friendly Remodels
As environmental consciousness grows, homeowners are increasingly prioritizing sustainable and eco-friendly materials for their remodeling projects. Therefore, contractors are adapting by sourcing materials with low environmental impact.
This includes materials such as recycled wood, energy-efficient appliances, and water-saving fixtures. Integrating sustainable practices into remodeling projects aligns with current trends and positions contractors as environmentally responsible professionals. Plus, it’s a great way for homeowners to save money on their utility bills and increase the value of their homes.
7. Kitchen and Bathroom Remodels Remain Popular
One-day kitchen and bathroom remodels remain the two most popular remodeling projects that homeowners are seeking. In 2024, these areas continue to be focal points for homeowners looking to enhance functionality and aesthetics.
Contractors who specialize in efficient kitchen and bathroom remodels are in high demand. For that reason, emphasize the importance of staying updated on the latest design trends and innovative solutions in these key spaces.
8. Addressing Aging Homes
The median age of homes in the United States is sitting around 40 and rising quickly. And some states have a median home age above 60, according to a recent report by Today’s Homeowner.
As the housing market ages, contractors are faced with a growing demand for renovations and remodels. In fact, homebuyers are opting for older properties, presenting opportunities for contractors to revitalize and modernize these houses.
Adapting to the unique challenges of aging homes is one of the key remodeling industry trends that can take your business to new levels. This includes addressing structural issues, upgrading electrical systems, adding accessibility features, and incorporating modern design elements while preserving the home’s character.
9. Multi-Generational Remodels for Diverse Living Needs
The trend toward multi-generational living is influencing remodeling projects. Due to the current housing economy, many Americans are moving back in with their parents or having their parents move in with them.
Therefore, contractors are designing spaces that accommodate the diverse needs of different generations living under one roof. This includes creating separate living areas, incorporating universal design principles, and enhancing accessibility. Understanding and catering to the dynamics of multi-generational households will position contractors as versatile professionals capable of meeting the needs of modern families.
10. Navigating the Current Housing Market
Remodeling projects often coincide with shifts in the housing market which impact homeowners’ decisions. Contractors in 2024 need to stay informed about mortgage rate trends and understand their implications for the remodeling market.
As mortgage rates remain high, many Americans are delaying moving and instead remodeling their current homes. This creates more demand that remodeling contractors need to capitalize on.
Capitalize on Remodeling Industry Trends
As the remodeling industry grows into the year, contractors must adapt to emerging trends to stay competitive and meet the changing needs of homeowners. Embracing software technology and adjusting to the market are essential strategies for success in 2024.
That’s why Leap provides remodelers with an industry-leading CRM platform to do the heavy lifting for your business operations. From managing customer relationships and documentation to task automation and the project lifecycle, Leap is the all-in-on software that grows alongside your business as you take on more appointments and hire more employees.
By staying ahead of recent remodeling industry trends, contractors can position themselves as the preferred remodeler in their service area. Moreover, evolving with the market is the best way to contribute to the transformation of homes across the nation.
So, are you ready to take the Leap and transform your business with more efficiency and sales? If so, fill out the form below and schedule a quick demo with a Leap expert.
