Seems like the starting point for a lot of conversations I had in 2020 was “how are you holding up?” or “how’s business?”.
And as we all know, that depends entirely upon the business you’re in. In 2020, building and remodeling did pretty well, and looks good heading into the new year.
Which seems surprising – building and remodeling are big-ticket items, and “during a global pandemic” doesn’t seem like a good time to be spending on big-ticket items.
But people are, and the reason I hear more often than anything else is, “we’ve spent so much time indoors this year, and realized how much we needed to make changes.”
At least that’s what I heard second-hand from friends and colleagues; I don’t recall hearing that directly from any clients or potential clients.
What I did hear was more about historically-low interest rates than anything else. And that seems to have fueled the new home market, in addition to the remodeling market.
Cheap money, however, doesn’t mean you shouldn’t spend it wisely. Be careful and be smart this year – design efficiently. Don’t waste space. Value quality space over more space.