Fix It Or List It: DEWALT Poll Finds More Than Half Of Nashville Homeowners See Home Improvements As An Alternative To Buying | state
NASVHILLE, Tennessee, June 15, 2021 / PRNewswire / – A new survey from DEWALT, part of the world’s largest tooling company, Stanley Black & Decker, found that Nashville Home improvement demand is expected to remain high through 2021, with more than seven in ten local homeowners planning or considering a home improvement project in the next six months. The survey examined Nashville owners’ home improvement plans, their experiences working with contractors and their perceptions of the value contractors bring to work.
The tight real estate market is contributing to this demand, with more than half of Nashville homeowners (51%) considering home renovations as an alternative to buying a new home given the state of the market.
“Nashville, like many cities in the United States, is seeing a surge in home improvement, and as homeowners turn to professionals for more advanced projects, the increase in demand reveals a critical need for more skilled talent. “, said Maria ford, president of commercial construction at Stanley Black & Decker. âThis emerging business boom in mid-sized cities across the United States demonstrates how critical it is to expand the pool of specialist talent, especially for electrical, plumbing, HVAC, welding and construction. ‘other similar skills. “
The boom in home improvement is creating intense demand for contractors, but homeowners say the supply is limited. Most homeowners (78%) are planning or considering hiring a professional contractor for their project, but among those who have hired a contractor, more than half (52%) must wait at least three months for work begins.
What drives the demand of entrepreneurs for Nashville?
The most common home improvement projects that Nashville owners plan to include bathroom remodel (37%), kitchen remodel (33%), porch / patio / deck remodel (32%), bedroom remodel ( 19%) and landscaping (16%).
Contractors are the most sought after for electrical work (49%), plumbing (47%), structural work (37%), HVAC (37%) and flooring (37%) – as many skills required for most large projects.
When it comes to selecting a contractor, owners prioritize price (66%) in deciding who to work with, followed by obtaining a license (56%). Most homeowners (56%) rely on word of mouth to find their contractor, with just 35% of homeowners using online search.
Owners appreciate the value of skilled trades
Nashville owners shared their appreciation for entrepreneurs in the survey. The main reasons for appreciating their skills are recognition of their expertise (51%), not having to do the work themselves (50%) and overall satisfaction with the project (40%).
This appreciation also leads to a broader understanding of the value of a career in a skilled trade. In fact, more than 6 in 10 homeowners in Nashville believe their child could make a good living as a professional building contractor.
âThese are great, well-paying career paths for those looking for a post-pandemic position, and Stanley Black & Decker is committed to addressing this issue 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 four times lower than the cost of an average four-year university degree ($ 33,000 vs. $ 127,000)1. For example, plumbers earn a median annual salary of $ 55,000, while electricians earn a median annual salary of $ 56,1802.
Solutions for the Skilled Worker Shortage
There is a great need for more skilled workers.
“In Tennessee, the construction industry represents nearly 130,000 jobs,” said the commissioner Jeff McCord from the Tennessee Department of Labor and Workforce Development. âThe ability to hire and train men and women for these jobs is vitally important to the continued growth of cities like Nashville, and across our state. “
To help solve the problem, Stanley Black & Decker continues its commitment to supporting the next generation of skilled professionals by announcing a donation of $ 50,000 to non-profit organizations in Nashville. In particular, the company is a partner of the Association of Builders and Contractors (ABC) of Grand Tennessee to help with workforce and business development opportunities such as their Emerging Leaders program and the apprenticeship training initiative.
To raise awareness of the shortage of skilled labor in Nashville construction industry and potential solutions, Stanley Black & Decker has also partnered with the Nashville Business Journal to facilitate a round table with opening remarks by Dr. Jeff McCord, commissioner of the Tennessee Department of Labor and Workforce Development. The roundtable will be available on the Nashville Business Journal website at friday 25 june.
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 Nashville, Tennessee . The margin of error for the national quota is +/- 3 percent, referred to a confidence level of 95 percent. 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 leader $ 14.5 billion A diverse global industrialist with 53,000 employees in more than 60 countries who manufacture the tools, products and solutions to achieve its purpose, for 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 industry leader in advanced solutions within its technical fastening and infrastructure businesses. Learn more about www.stanleyblackanddecker.com.
1 Community for accredited online schools
2 Data from CareerOneStop, a platform sponsored by the US Department of Labor
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SOURCE Stanley Black & Decker