WASHINGTON – Pattie Roberts had big plans for her cottage-style house in the Annapolis, Md., suburbs.
She wanted to renovate her kitchen and first-floor bathroom, then transform the family room into a soundproof music studio for her husband. So in late 2007, she took out a home-equity loan and hired a contractor to do the work. That didnt last.
The money ran out, and the economy went in the toilet, Roberts said. So she opened a can of elbow grease and finished the renovations herself.
Do-it-yourself products have emerged as a positive trend in the otherwise moribund home-improvement business. Stores are reporting an increase in paint and flooring sales. Fertilizer and gardening tools are flying off the shelves. Home Depot reports that attendance at its in-store workshops has risen.
Industry veterans and experts have said several factors are driving the trend. Strapped consumers are trying to save money by cutting expenses such as lawn services, opting instead to tackle projects themselves. They also are trying to reduce energy bills through small jobs such as installing ceiling fans or collecting rainwater for reuse.
The battered real estate market has also contributed. Data released this week by the National Association of Realtors showed that the median price for existing homes was $173,000 in May, down 16.8 percent from a year earlier. Faced with the prospect of selling at the bottom of the market, many homeowners are opting instead to stay put and remodel to suit their tastes. True Value chief executive Lyle Heidemann said he thinks this economic downturn has shifted consumer habits for the future.
I actually think that this will go a little bit longer than it has in the past, he said. If someone said tomorrow morning the economys OK, I think we would still see a movement of more DIYers.
According to a report this year by Mintel, a market research firm, 23 percent of people who took on home renovation projects did so to save money. About 16 percent reported having more time to work on their homes because they had been laid off or their hours were reduced. Men were also twice as likely as women to take on a project.
Painting is the most common DIY project. At Sherwin-Williams, sales of paint in every segment of its business declined during the most recent quarter – except in the consumer group, where revenue increased 0.4 percent, to $288.2 million. Christopher Connor, the companys chief executive, has attributed the results to the do-it-yourself trend, and the company recently introduced a new line of paint to cater to those customers.
Home Depot spokeswoman Jen King said tiling projects are also popular, along with simple updates such as carpet and window coverings. Other categories that have remained relatively strong include basic repair equipment such as water heaters, plumbing tools and roofing, as well as security products like locks.
But homeowners dont want to do everything themselves.
Larry Stone, president of Lowes, said customers are putting off major projects that they are reluctant to handle on their own.