DEWALT® survey finds over 70% of Dallas homeowners plan to renovate by 2022
– Skills of contractors in high demand: among owners who have been in contact with a professional contractor, more than half have to wait at least three months for the work to begin
– $ 5-Year, $ 25 million Skilled Trades Engagement: Starting October 1, nonprofits working to address the skilled trades shortage can apply for Empower Makers Global Impact Challenge grants
DALLAS, October 5, 2021 / PRNewswire / – A new survey from DEWALT and the world’s largest tools and storage company, Stanley Black & Decker, has found that home improvement demand in Dallas should stay warm. The DEWALT survey, which examined homeowners’ renovation plans, their experiences working with contractors as well as their perceptions of the value contractors bring to the work, found that more than 70% of Dallas homeowners are planning or considering a home improvement project before the end of the year.
The tight real estate market is contributing to this demand, with more than half of Dallas homeowners (54%) considering home renovations as an alternative to buying a new home.
“Like many other cities in the United States, Dallas is experiencing a wave of home renovations, âsaid Marie Ford, president of commercial construction at Stanley Black & Decker. âAs homeowners take on more advanced projects that are beyond the talents of the average DIY enthusiast, they are increasingly turning to professionals. This increase in demand reveals a critical need for more skilled professionals, especially in areas like electrical, plumbing, HVAC, and welding. “
The wave of home improvement is creating intense demand for contractors, but according to homeowners and industry experts, supply is limited. Most homeowners (71%) are considering or are considering hiring a professional building contractor for their project, but of those who hired a contractor, more than half (65%) have to wait at least three months for their project. let the work begin. The wait time should come as no surprise as there are 430,000 construction jobs open in the United States1
What drives the demand of entrepreneurs for Dallas?
The most common home improvement projects that Dallas owners plan to include bathroom renovations (38%), kitchen renovations (37%), bedroom renovations (31%), landscaping (29%), and porch / patio transformations / terraces (26%). Contractors are most in demand for electrical work (46%), flooring (44%), plumbing, (42%) structural work (36%), painting (35%) and windows (35%).
When it comes to selecting a contractor, owners prioritize cost (65%), followed by licensing certification (52%) and professionalism (50%). Most homeowners (55%) rely on word of mouth to find their contractor, with just 39% of homeowners searching online or through other means.
Owners appreciate the value of skilled trades
The immense effort deployed by business professionals has not gone unnoticed Dallas owners. Owners said they appreciated their contractors – they recognized their expertise (42%), appreciated the ability to hire someone else to do the job (37%) and, overall, they were satisfied of the complete project (39%). Beyond the appreciation of expertise, there has also been a broader understanding of the value of a career in a skilled trade – more than 6 in 10 owners in Dallas believe their child could make a good living as a professional building contractor.
âThese are great, well-paying career paths for people looking for a new career path, especially as we are emerging from the pandemic and many want change. Stanley Black & Decker is committed to solving the workforce shortage as part of our corporate social responsibility strategy, which aims to help 10 million people gain the skills they need to secure jobs and revitalize communities by 2030, âsaid Ford.
The average cost of a trade school program is almost a quarter of the cost of an average four-year university degree ($ 33,000 vs. $ 127,000).2 Skilled trades jobs not only offer job security, but are also financially rewarding. For example, plumbers earn a median annual salary of $ 55,000, while electricians earn a median annual salary of $ 56,180.3
Solutions for the Skilled Worker Shortage
There is a significant need for more skilled trades workers in the Dallas and all over the world. To help solve the problem, Stanley Black & Decker is working to empower decision-makers by improving skills, promoting vocational training, improving access to the creative space, and training and encouraging teaching. of Science, Technology, Engineering, Arts and Mathematics (STEAM).
To further support this mission, Stanley Black & Decker launched the Global Impact Challenge âEmpower Makersâ, lasting 5 years, up to $ 25 million commitment to fund vocational training and retraining programs in the construction and manufacturing sectors. Start October 1st, nonprofits around the world can apply for the Global Impact Challenge, which is expected to train and retrain up to 3 million creators over the next five years. To apply or to learn more about the Stanley Black & Decker Global Impact Challenge, visit EmpowerMakers.com.
DEWALT commissioned Atomik Research to conduct an online survey of 2,516 owners of United States, of which 1,005 represented a national survey, while additional oversampling took place in Dallas, TN . The margin of error for the national quota is +/- 3 percent, referred to a 95 percent confidence level. Fieldwork took place between May 21-30, 2021. Atomik Research is an independent creative market research agency.
DEWALT is obsessed with the way users work in the real world and relentlessly pursues complete jobsite solutions. By incorporating its latest technological and industrial innovations, DEWALT is leading the charge for the jobsite of the future. DEWALT products. RESISTANCE GUARANTEEDÂ®. For more information, visit www.dewalt.com or follow DEWALT on Facebook, Twitter, Instagram and LinkedIn.
About Stanley Black & Decker:
Stanley Black & Decker, an S&P 500 company, is a $ 14.5 billion diversified global industry leader with 56,000 employees in more than 60 countries who manufacture the tools, products and solutions to achieve its goal, to those who make the world. The Company operates the world’s largest tools and storage business with iconic brands such as DEWALT, STANLEY, BLACK + DECKER and CRAFTSMAN; the second largest commercial electronic security company in the world; and is a global industrial leader in high-tech solutions within its technical fastening and infrastructure businesses. Learn more at www.stanleyblackanddecker.com.
1 “CONSTRUCTION AND EMPLOYMENT EXPENDITURE: History and forecast terms and sources”, Builders and associated contractors. https://www.abc.org/Portals/1/News%20Releases/explainer-2021.pdf?ver=2021-03-23-162431-727
2 Community for accredited online schools
3 Data from CareerOneStop, a platform sponsored by the US Department of Labor
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SOURCE Stanley Black & Decker