The Market Is Strong, So It’s Time To Get Stronger

These are good times for remodelers. The nation’s housing stock is aging, homeowners are choosing to age in place, and high mortgage rates are spurring people of all ages to improve their existing homes rather than move. There are challenges, of course, including a shortage of skilled labor and rising materials costs. But most remodelers I talk with say they are doing well.

You can take advantage of this market by strengthening your business, growing and improving your workforce, and expanding your knowledge base.

Strengthen Your Business

If you’re busy, you’re not alone—most remodelers are. But being busy isn’t the same as being profitable. If you’re not closely tracking your costs and margins, then you can be working more without earning more. Dig into your financials and see if you’re making what you should be making. If you’re unsure, take a hard look at your costs: Where are your profits are coming from? Where are they slipping?

I also recommend giving more attention to your clients’ product selection process because their indecision can cause problems. My team puts significant effort into having clients make their selections early and ensuing they are satisfied with their decisions and understand the consequences of making changes later on. When clients change their minds about tile or cabinets or lighting, it creates a domino effect that can increase costs and can cause delays. And delays are bad enough in “normal” times, but when there are supply chain challenges, it can be incredibly disruptive.

Communication is another essential part of a strong business. Your interactions with clients throughout the course of a project makes or breaks their perception of your work. If they feel out of the loop, their overall experience suffers.

At my company, we communicate clearly, often, and with purpose. We have a team lead on every project who is empowered to make decisions and serve as the primary point of contact. That person sets expectations about who’s coming, when, and what’s happening next. We expect our trade partners to communicate just as clearly.

Grow and Improve Your Workforce

There is plenty of work out there, but the challenge is finding and retaining the people necessary to take on all that work. As new construction slows, we’re seeing more subcontractors knocking on our doors. Be open to these overtures—one phone call today may be the beginning of a year’s long relationship with a trusted trade partner.

You should also tap into new talent. Women in residential construction and remodeling are still vastly underrepresented. When I served as national chair of NAHB’s Professional Women in Building Council nearly 20 years ago, most women worked in office roles. Now, more are showing up on job sites, which is very encouraging.

I would love to see the percentage of woman on our trade partners’ crews get to 20%. We aren’t there yet, but momentum is building. 

Expand Your Knowledge Base 

Whether you’re enjoying a strong market or weathering a down cycle, there are always opportunities to expand your knowledge base and push yourself to be the best remodeler you can be.

One of the best ways? Getting involved with your local NAHB Remodelers Council. As I talk with other remodelers from around the country, I hear again and again the benefits of engaging with the NAHB Remodelers Council—from finding peer-to-peer mentoring and support to the sharing of insights. Every conversation, every meeting, every course, and every idea exchange can make you sharper and better prepared for what’s next.

It’s a great time to be a remodeler—but don’t just ride the wave. Use this moment to strengthen your foundation, grow your team, and become an even better version of the professional you already are. The market is strong. Let’s make sure your business is even stronger.