UPDATE: The U.S. is grappling with a staggering $1 billion home repair crisis as recent data reveals a steep decline in DIY projects among homeowners. Rising interest rates and shrinking budgets are causing many to delay significant renovations, according to a new national survey by Ace Hardware, conducted during National Simplify Your Life Week (August 4–10).
Sales at major home improvement retailers such as Home Depot and Lowe’s are faltering as homeowners shift their focus from large remodeling projects to smaller maintenance tasks. 87% of millennial homeowners report having at least one unfinished project, with 84% admitting they’ve postponed fixing it. This trend highlights a growing demand for professional assistance, particularly in home repairs that are increasingly overwhelming for many.
“There’s a real sense of frustration that comes from walking past the same unfinished projects every day,” said Jason Hipskind, President of Plumbing, Heating, Cooling and Electrical for Ace Hardware Home Services. The survey, which included responses from 1,000 millennial homeowners, underscores a significant shift away from do-it-yourself repairs towards outsourcing, especially for complex issues.
Key findings reveal that homeowners are particularly seeking help with:
- Electrical problems: 66%
- Heating and cooling: 62%
- Plumbing: 60%
Only 36% of respondents feel comfortable tackling drywall, and nearly 30% have abandoned a home improvement project entirely. Even more striking, 51% report that the stress of incomplete projects is impacting their daily lives, and 57% avoid using parts of their homes due to unresolved repairs.
As a response to this growing dilemma, Ace Hardware is expanding its Home Services division across 48 states, offering vetted, insured professionals for tasks ranging from plumbing to painting. This strategic move aims to capture business that larger competitors like Home Depot and Lowe’s cannot efficiently support.
“We’re seeing more homeowners finally addressing those ‘I’ll get to it someday’ projects, especially those that protect their most valuable asset – their home,” Hipskind stated, emphasizing the opportunity for Ace to meet the demand for urgent home repairs.
The Ace Hardware Home Services model is not merely a referral platform; it is a fully integrated service division, ensuring that all workers are company employees with appropriate qualifications. Typical services include:
- Handyman: Drywall fixes, deck repairs, furniture assembly
- Painting: Interior, exterior, deck staining
- Plumbing: Toilet repairs, water heater installs
- HVAC: Furnace and AC service, system tune-ups
- Electrical: New outlets, lighting, EV charger installation
This unique approach differentiates Ace from its competitors, who often rely on third-party contractors. By delivering both the tools and the professionals, Ace aims to deepen customer relationships and drive growth, even in a slowing retail environment.
According to Hipskind, Ace’s commitment to local service is critical. “Even in a softer market, Ace stays strong because we’re locally owned and deeply connected to our communities,” he added. “We adapt quickly, focusing on everyday home preservation, repair, and maintenance.”
As the shift in the home improvement landscape continues, homeowners are urged to reconsider their repair strategies. With the pressure of unfinished projects mounting, the demand for reliable, professional help is likely to increase. For many, the days of DIY may be fading as convenience and quality take precedence in maintaining their homes.
For the latest updates on this evolving story and to stay informed about home improvement trends, sign up for Ace Hardware’s updates.
