HomeServe USA (HomeServe), a leading provider of home repair solutions, announced the findings of the 12th edition of its Biannual State of the Home Survey. The survey reports on the financial impact of home repairs and the state of the American home. The latest survey also explored what Americans have done in and around their homes during COVID-19 and home buying and selling trends.
Our Homes During COVID
Continuing the theme from the Spring 2020 and Fall 2020 Biannual State of the Home surveys, which examined the impact COVID-19 has had on our homes and how we use them, this edition of the survey looked at how homeowners have handled home repairs over the past 15 months. Over one-third of homeowners (34%) said they or someone in their household had attempted to make a home repair during COVID-19 that they usually would have hired a professional to make. But those repairs were not always successful. Of those trying to complete a home repair themselves, 18% said that the problem still needs to be fixed and 11% ended up having to hire a professional after all.
"We all spent a whole lot more time at home over the past fifteen months, which has taken a toll on our houses," said Tom Rusin, CEO, HomeServe North America. "We wanted to take a closer look at how Americans have handled the inevitable home repairs that have come up that they would usually have called in a professional to fix. Not surprisingly, many homeowners tried to tackle some home repairs themselves instead of hiring a contractor. As you can imagine, we found that many of these repairs were unsuccessful and often required a professional in the end. Throughout the pandemic, HomeServe and our contractors have been there for our customers, and we took every precaution to ensure they would feel safe and comfortable having us in their homes to complete their repairs."
In addition to being busy making home repairs, 78% of Americans have done some sort of organizing or decluttering over the past year with the closet being the top target (51%) followed by the kitchen pantry or cabinets (40%). Thirty-six percent of Americans tackled a junk drawer, while 32% focused on their garage.
"While the world around them might have seemed to be spinning out of control, Americans have used this time to get their own homes in order," added Rusin.
Buying/Selling Homes During COVID
Many parts of the country are seeing a hot real estate market. The National Association of Realtors reports that 88% of metropolitan areas are seeing homes with double-digit price growth. Over the past 12 months, nearly one out of five Americans (19%) said they bought or sold a home. That number jumps to over one third (36%) for Americans between 18-34 and to 38% for those with kids under the age of 18.
When buying a new home, many homeowners like the peace-of-mind that comes with a home warranty. Nearly two thirds of Americans (72%) who bought or sold a home in the past year say a home warranty was included in the sale.
"Buying a home can be a very stressful experience. Having a home warranty included is one of the best ways to give a home buyer peace-of-mind that," said Rusin.
HomeServe Home Warranty is offered in select metropolitan areas in the U.S. Visit https://www.homeserve.com/en-us/home-warranty for more information.
Saving for Home Emergencies
Since the first edition of the survey in 2015, American's have been asked about their savings habits, specifically how much money they have set aside for an emergency home repair. Despite a sputtering economy and record high unemployment, the percentage of homeowners with no money set aside stayed steady at 13% since the Fall 2020 edition. That same number was 17% in May 2020 and October 2019.
This edition of the survey was conducted online by The Harris Poll on behalf of HomeServe, May 5-7, 2021, among 2,064 U.S. adults age 18+, of which 1,358 are homeowners. For more information on available repair service plans, visit www.HomeServeUSA.com and for helpful homeowner tips, visit www.HomeServeUSA.com/blog.
This survey was conducted online within the United States by The Harris Poll on behalf of HomeServe from September 16-18, 2020 among 2,053 U.S. adults ages 18 and older (among whom 1,424 are homeowners). 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 firstname.lastname@example.org.
HomeServe USA Corp. (HomeServe) is a leading provider of home repair solutions serving more than 4.7 million customers across the US and Canada under the HomeServe, Home Emergency Insurance Solutions, Service Line Warranties of America (SLWA), Service Line Warranties of Canada (SLWC) names, and through locally branded HVAC companies located in major metro areas. Since 2003, HomeServe has been protecting homeowners against the expense and inconvenience of water, sewer, electrical, HVAC and other home repair emergencies by providing affordable repair coverage, installations and quality local service.
As an A+ rated Better Business Bureau Accredited Business, HomeServe is dedicated to being a customer-focused company supplying best-in-class repair plans and other services to consumers directly and through over 1,000 leading municipal and utility partners.
HomeServe has teamed up with executive producer, host, and best-selling author Mike Rowe, best known as the creator and host of the hit TV series Dirty Jobs, to work together to provide homeowners expert advice on maintaining, enhancing and protecting their homes. For more information about HomeServe, a Great Place To Work certified winner and recipient of thirty 2020 Stevie Awards for Sales & Customer Service, or to learn more about HomeServe's affordable repair plans, please go to www.homeserve.com. Connect with HomeServe on Facebook and Twitter @HomeServeUSA. For news and information follow on Twitter @HomeServeUSNews.
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