Survey: Homeowners Seeking Style Over Price
The NKBA survey a nationwide poll of more than 200 dealers,
CKDs, CBDs, distributors, multi-branch retailers and other
association members questioned participants about which factors
their customers were most likely to choose when it came to
Overwhelmingly, homeowners opted for style (85%) over brand (6%), and function (80%) over form (12%), the Hackettstown, NJ-based NKBA reported.
Other findings revealed that consumers prefer informal (80%) over formal (8%); style (78%) over status (13%); structured (71%) over unstructured (16%); price (69%) over brand (22%); style (66%) over price (28%); subdued (55%) over bright (34%), and tradition (53%) over innovation (39%).
Consumers are also apparently placing a high premium on quality, the survey revealed. In fact, "using the best quality products" scored "important/extremely important" with 75% of the homeowners. Keeping to a detailed plan (68%), keeping to a firm budget (58%), and using national brands (40%) were other important factors noted by consumers (see graph at left).
The survey also showed an increase in popularity of telephones, recycling centers, TV space, book shelves, computer centers and pet feeding areas in the kitchen and bath.
Growing Market for Second Homes Offers New Opportunities
Washington, DC Second homes are growing more popular and are changing in function presenting a wide range of new opportunities for kitchen and bath professionals, builders, retailers and others.
That's the news that was conveyed in a recent issue of American Demographics magazine, which noted that the number of second homes in the U.S. has more than doubled over the past 20 years to 3.6 million in 2000. The median value of those homes has also risen, from $115,000 in 1995 to $127,800 in 1999, according to the National Association of Realtors.
In 1999, 377,000 single-family second homes were sold, up 27% from 1995, according to the Washington, DC-based NAR. Most (79%) are bought by married couples, followed by single men (8%), single women (8%), and unmarried couples (5%).
The NAR said it expects that second-home buyers will drive the construction of 100,000 to 150,000 second homes each year from now through 2010.
The association also notes that many second-home buyers are buying properties they will use not only as vacation homes, but as primary residences for weeks or even months at a time.
Furthermore, many of these home buyers will be telecommuting and working in their new homes at times, the NAR observes. This offers a new market for home offices a natural extension for the space-planning talents of kitchen and bath professionals.