Todd Tomalak’s Vision for the Golden Age of Remodeling

📅 October 10, 2023 ⏱️ 28:40 🎤 Alex Cadieux, Todd Tomalak

Chapters

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0:00

Introduction to Todd Tomalak

Alex Cadieux introduces Todd Tomalak from Zonda, a leading forecaster in the building products industry, to discuss market trends relevant to hardscapers.
2:02

Housing Affordability & Patio Demand

Todd explains how housing affordability issues, leading to smaller lots in new communities, are directly increasing the demand for patio pavers and other outdoor hardscape materials to maximize usable space.
5:00

HOA Communities & Patio Usage

Todd reveals that homes built within HOA communities are 50% more likely to include patios, and the proportion of new homes in HOAs has significantly increased, boosting overall patio usage despite potential housing start slowdowns.
8:02

Patio Footprint Growth

Over the past decade, the average patio space in new homes has nearly doubled, from 80 to almost 150 square feet, driven by changing home designs like sliding panel doors connecting indoor and outdoor living areas.
9:07

Retrofit Opportunity in Newer Homes

A significant opportunity exists in newer homes (less than 7 years old) where builders often under-delivered on outdoor spaces due to time and material constraints, creating a backlog of renovation projects.
13:02

Demographic Shifts & Backyard Investment

Todd discusses how major life changes, particularly having children, cause even price-sensitive homebuyers to reallocate their budget significantly towards backyard improvements, including hardscaping.
17:10

Strategic Marketing for Hardscapers

Given current market volatility and deferred home improvement projects, contractors should strategically target newer communities with specific demographics and under-indexed outdoor spaces.
20:30

The Golden Age of Remodeling

Todd predicts the current decade (2020-2030) as a 'Golden Age of Remodeling' despite a 'squirrely downturn' due to factors like a housing shortage, deferred maintenance, and labor shortages.
23:40

Historical Parallels & Future Surge

Drawing parallels to the 1920s post-pandemic and economic shifts, Todd suggests that as interest rates ease, there could be an explosive surge in housing and home improvement activity.

Speakers

Alex Cadieux

Host — Techobloc

Todd Tomalak

Zonda, Building Products Advisory Practice

Key Takeaways

✦

Target new housing developments (under 7 years old): Builders often under-deliver on outdoor spaces in these homes, creating a prime market for significant hardscape renovations as homeowners address neglected backyards.

✦

Focus marketing on families with young children: Data shows that households with children, even budget-conscious ones, are highly motivated to invest in functional, low-maintenance hardscaped backyards.

✦

Highlight value of outdoor living space: Emphasize to clients that a well-designed patio effectively expands their usable living area, a crucial selling point given smaller lot sizes and increased housing density.

✦

Educate on financial benefits of renovation vs. moving: Remind homeowners that improving their current property is significantly more cost-effective than moving, especially with high mortgage rates, making renovation a logical investment.

✦

Prepare for long-term growth despite short-term volatility: Recognize that current economic slowdowns are a temporary 'squirrely patch' in a broader 'Golden Age of Remodeling'; use this time to optimize operations, team building, and marketing for the inevitable rebound.

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