In early 2020, we began furnishing a home for a lovely family with four children. It had been several months into the pandemic when we met with them (over a virtual call) to go over how we could proceed. They had a sign in the family room that said, “Let’s Stay Home Tonight.” We joked how that had to go!
Spending more time at home has caused many of you to realize the ways your home isn’t serving you well. For this family, they needed a home office, music room, and home school/playroom.
You may have found yourself in the same situation with cooking at home, learning at home, and working from home. However, many people are experiencing this same feeling about their homes, and the home industry is booming.
So, if you’re starting to plan your next project, here are a few things you can expect in this post-pandemic home industry.
1. Demand is on the Rise
Two things happened when you were trapped in your home for months on end.
1. You realized your home was lacking in many areas due to spending all day, every day at home with your family. The way you use your space also had to change to accommodate work and school.
2. You accumulated untapped spendable dollars once allocated for dining out, vacations, theater, and car expenses. The good news is that you get to improve your quality of life and increase the value of your biggest asset, which is your real estate property.
You’re not alone in this light-bulb moment. Everyone wants to do home improvements, causing increased demand across all segments of the home improvement industry.
My design firm has never been busier. Some days I wish the phone would stop ringing! What entrepreneur ever thinks that?
2. Supply Availability Plummets
We are constantly problem-solving supply availability for our projects. For example, we have should have finished two kitchen remodels, but we are waiting for one item. The first kitchen is finished except for the wall microwave oven combo. The other project is complete aside from the range that has yet to be delivered.
The microwave oven combo can’t complete production because the chip it requires is on backorder. And the range is sitting on a freighter in the Port of Long Beach but can’t be off-loaded.
Covid has disrupted the home improvement industry in profound ways. Some factories have faced sporadic closures, causing a huge backlog in production. Others can’t get the necessary raw materials because of natural disasters, causing further production delays. And many factories experience a shortage of skilled workers returning to work.
There is a shortage of shipping containers, trucks, railcars, and delays at our ports to top it all off.
Unpredictable delivery dates have wreaked havoc on my firm’s installation schedules, making it impossible to plan anything. As a result, it’s been frustrating for us and terribly dissatisfactory to my clients.
3. Increased Wait Times & Changing Timelines
The increases in demand and decrease in supply means you can expect longer wait times and higher prices. It’s intuitive to believe there will be a correction, but I think this booming market will continue for years to come.
Right now, many interior designers and design-build firms, such as mine, are booked more than a year in advance.
What does this mean for you?
Don’t wait for the market to change. This isn’t a boom based on speculators and bad banking practices. Instead, this is because people realize what is important, home and family.
Get started on your renovation projects earlier rather than later.
Be patient and expect your new kitchen, bathroom, or furniture will take longer to complete.
I’m Here to Help!
Along with all these realizations, I’ve pivoted my business model. We spend a great deal of time tracking orders, changing selections based on what is available, and helping our clients navigate this extreme environment.
Fortunately, we have a network of manufacturers and distributors that keep us informed by notifying us of changes to keep our client’s projects moving forward proactively.
Remodeling a home is already an emotional undertaking but figuring out disrupted supply chains and tracking backorders without the help of a professional can be highly stressful.
We will help you along the way and keep you informed of the status of your project with our weekly communication – Expediting Report. This report lists all your products, dates ordered, dates expected, dates received, and dates delivered. So, you’ll always know what is happening and what to expect.
If you’re looking for a partner who will have your back every step of the way, reach out to us. We’d love to help!
Until next time,
Have a great time shopping and an even better time living in and LOVING your home!
Now you can get the designer look for your space, without the interior designer fee!
That’s right – I’ve created Designer Collections on my website from resources that are available only through Designer Showrooms (it’s our little secret!).
Why should you shop my Designer Collections versus shopping big box stores?
Because . . . . . . .
The products are cohesive, which means they all look great together.
Your space will look like you hired a designer, even though you didn’t.
You’ll save time and frustration because you won’t be hopping from store to store, trying to curate your own look.
Your space will look nicer longer since these collections are based on durability and quality versus fast-fading trends.
You will feel more confident about your buying decisions and your space as a whole, preventing stressful returns, second thoughts, and regrets.
Some of the manufacturers you may have heard of before, but others are designer secrets.
Bury Circle Collection!