Homeowners are spending more time at home these days and are finally getting to those minor (and even major) renovation projects they've always dreamed of. While price is obviously an important factor in terms of making a purchasing decision and deciding which project to focus on, it absolutely shouldn't be the only thing homeowners should consider.
Case in point: sometimes customers can get a little too wrapped up in initial prices, to the point where they struggle to see beyond them and into the legitimate investment they're making in their home. They fail to see the forest for the trees, so to speak, and may put themselves at a disadvantage because of it.
Thankfully, getting over this particular hurdle as a contracting professional is a lot more straightforward than you might realize. There are a number of viable ways to help potential customers combat sticker shock and refocus on that long-term investment that is more than worth exploring.
Understanding the Finer Points of Cost vs. Value
By far, the most important way to help someone get over that initial sticker shock in terms of home improvement projects is to help them understand the difference between a project's cost versus its value.
Homeowners today have access to more project cost information than ever before. Thanks to the power of the Internet, they're never more than a few quick mouse clicks away from seeing exactly what a home renovation project like a new front door will cost them. But that initial price is really only one small part of a larger story - namely, it lacks the context surrounding the return on investment they will enjoy as a result.
So sure, someone could save a little money by investing in cheap exterior doors for their home. But by paying a little more, they'll get benefits in terms of increased energy efficiency and especially security that they won't have access to via those inexpensive alternatives.
These are the types of things that your average homeowner isn't necessarily trained to think about - the value that justifies why one door may be more expensive than another. So in the end, that $1500 new door may bring with it a major increase in energy efficiency that a cheaper exterior door could never match. These are the types of things you need to help homeowners think about before they make these big decisions.
Why General Contractors Matter
Another major form of sticker shock that a lot of homeowners experience involves the decision of whether or not to hire a general contractor to perform the work in the first place. You may be able to get them onboard with high quality materials, but once they start to see the true scope of the work set and those final home improvement costs reveal themselves, they may balk at the price for an entirely different reason.
Again, this is absolutely one of those situations where you'll want to focus on the ideas of value and return on investment above all else. A homeowner probably isn't knowledgeable about local building codes and regulations, for example, while a general contractor actually is. They can save a tremendous amount of time and money by simply making sure that all the right documents, permits, licenses and even insurance policies are in place before a project actually begins.
Likewise, general contractors can get a project done far faster than a homeowner could ever do on their own. Not only do they have access to all the right tools (which is another capital investment that homeowners don't tend to think about until the project begins), but they also have years of experience in exactly these types of projects. They've seen it all and they know how to stop small problems now before they become much bigger ones in the middle of a project. They're experts in mitigating risk and keeping a project on-time and on budget.
But in the end, they also bring with them the most important benefit of all: the peace-of-mind that only comes with knowing the job will get done properly, no matter what.
None of this is immediately obvious when a homeowner looks at a quote for home improvement costs. But by helping them understand these key points, you'll do more than just help them combat sticker shock - you'll set their expectations in a way that also allows you to exceed them at every opportunity.
Want to learn more about how to tackle today's challenging marketplace? Our whitepaper, Selling to Today's Buyers, takes a different look at how you can distinguish your brand and lead the pack.
