OMAHA, Neb., Jan. 21, 2020 /PRNewswire-PRWeb/ -- Buildertrend, the leading provider of cloud-based project management software for homebuilders, remodelers and specialty contractors, today released its 2020 Digitally Savvy Homeowners Report, which uncovers key factors homeowners consider when choosing to work with residential construction businesses.
Gen Z and Millennials aren't the only ones demanding more digital experiences in their lives. More Generation X and Baby Boomer consumers now expect digital experiences in every aspect of their lives as well – including when building or renovating their homes. Despite overwhelming evidence that seamless omni-channel experiences are critical for modern business operations, the construction industry – which is widely considered one of the least digitized industries – has failed to evolve in pace with digital market advancement. And instead, it's remained heavily dependent on manual and paper-based processes.
"Homeowners and buyers are already using online tools to search for homes and identify top-rated contractors, so it makes sense they expect a similarly seamless digital experience throughout their building journey," said Dan Houghton, co-founder of Buildertrend. "According to Buildertrend report findings as well as customer feedback, digital platforms like project management dashboards can help residential construction maintain higher levels of homeowner engagement. Which based on Buildertrend customer insights, highly engaged homeowners are key to unlocking new revenue opportunities."
How residential construction companies respond to consumer demand for easy and frequent communication will be a key indicator for business success over the next decade, and beyond.
Meeting the expectations of digitally savvy homeowners
Residential construction businesses can appeal to today's consumer mindset of "there's an app for that" by offering highly personalized and convenient digital experiences to communicate throughout a project's lifecycle. According to a recent online survey of over 1,000 U.S. homeowners aged 23+ conducted by The Harris Poll on behalf of Buildertrend, 86% would find an online dashboard helpful in keeping them updated on the progress of their construction project.
Additionally, according to the same survey, 96% of homeowners aged 23+ say real-time updates of their construction project would be important to them, and 98% of homeowners aged 23+ say that ease of communication and collaboration would be important when choosing a residential construction provider for a home construction/renovation project. In fact, transparency during communications is valued so highly that they rate the importance of ease of communication and collaboration equally with project price (both 98%) if they were choosing a residential construction business to work with for a home construction/renovation project.
Understanding the digitally savvy homeowner
In addition to offering survey results, the report also illustrates trends for home buying, renovating and design across different generations, such as:
● Millennials, who started buying homes later in life than previous generations, now represent the largest generation of homebuyers (37%), followed by Generation X, which represents 24%.
● In contrast, Generation X and Boomers are the most frequent buyers of newly built homes due to financial stability.
● In terms of renovations, Boomers and Generation X are motivated to "modernize" their homes while Millennials and the Silent Generation are motivated to "improve aesthetics and design."
For more insights on how today's tech-intelligent consumers will impact how homebuilders, remodelers and specialty contractors manage their businesses in the next decade and beyond, download a free copy of Buildertrend's 2020 Digitally Savvy Homeowners Report at https://buildertrend.com/datareport/.
About the 2020 Digitally Savvy Homeowners Report survey
To compile the 2020 Digitally Savvy Homeowners Report, a survey was conducted online within the United States by The Harris Poll on behalf of Buildertrend from December 18-20, 2019, among 1,201 U.S. homeowners ages 23 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].
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About Buildertrend
Buildertrend is the #1 cloud-based project management software tool used by homebuilders, remodelers and specialty contractors. Since 2006, more than 1 million users across more than 100 countries have chosen Buildertrend as their preferred platform for real-time collaboration throughout each stage of the construction process. To learn more about Buildertrend, visit buildertrend.com and @buildertrend.
SOURCE Buildertrend
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