Waiting out the economic downturn, builders are transforming before our eyes. With the housing market in the gutter, builders are turning their focus to remodeling, energy conservation, sustainability and smaller homes. Builders and construction companies are doing whatever it takes to make a dollar – and today they are increasingly taking on remodeling projects.
Charleston Regional Business Journal
Remodeling activity is down, but at least it’s active. According to a report from the Harvard Joint Center for Housing Studies, homeowners “are more likely to make improvements primarily to maintain the structural integrity and efficient functioning of their homes, as well as to generate cost savings.” Many of those who are remodeling would have sold their home in a better market, made a profit and traded up, but because of the circumstances, consumers are more focused on staying put and improving what they have.
Profiled in a recent article from the Charleston Business Journal, Charleston, South Carolina custom builder Dolphin Architects and Builders is doing more home renovations these days. President Wally Seinsheimer said two years ago home renovations may have been 10 percent of the company’s business. Today, that numbers triples to 30 percent.
What are some keys to revamping their identity?
- More builders are doing the work themselves. It’s cheaper than hiring subcontractors.
- Another bonus of doing the work themselves is the forging of solid relationships with their customers
- The builder’s work is perceived as higher quality
- Accessibility and availability has never been greater
Loyalty and great customer service are going to make those builders who are still around even more successful. It’s also important for the builders/remodelers to offer the most up-to-date products on the market today. Some builders are even going back to school to earn other certifications, particularly in green construction.
Like other professions before them, builders are recognizing the importance of adapting to their environment. The reinvention of the builder is great for the industry. The competition amongst them provides the best value for the customer and only the best companies will survive.
Tags: builders, certifications, construction, Harvard Joint Center for Housing Studies, home renovations, Remodeling