Amid tight mortgage lending, more opt to build or renovate homes

Nevertheless, economic factors like high living costs, household debt, and interest rates will pressure those with renovation budgets over 100,000 baht to reduce their spending. 

Consumers consider the credibility of contractors, pricing, value for money, and comprehensive services when choosing builders and purchasing materials.

Home Building Companies/Contractors: Most individuals planning to build their own homes are interested in companies or contractors that offer comprehensive services, from structural work to interior design. They primarily seek contractors through personal recommendations from acquaintances and those with direct experience. The next most popular method is searching through the websites of home building companies, a channel increasingly favoured across various age groups.

Construction Material Stores: Those planning to build, renovate, or extend their homes mainly purchase construction materials from stores with nationwide branches. They consider the variety of products available and the reliability of the suppliers, usually opting for large, well-known stores. Special construction materials that are energy-saving, health-friendly, and environmentally friendly attract consumer interest, with many willing to pay up to 5% more for such materials.

Additionally, the high prices of construction materials have led many to delay their building or renovation projects, opting to change decorative materials to stay within budget.

Interest in installing smart home systems is rising, corresponding with the value of home construction. Among those interested, security systems are the top priority, reflecting a strong emphasis on the safety of life and property.

Home Building Companies/Construction Contractors and Renovation Specialists: Setting competitive prices, understanding customer needs and limitations, and finding solutions that meet customer demands will enhance competitiveness. However, it’s essential to manage costs efficiently to maintain profit margins and liquidity. Delivering projects on time and with quality will build credibility and increase the chances of securing future projects.

Construction Material Stores: In addition to offering a wide variety of products and running promotions, businesses need to prioritise after-sales services, especially delivery and installation. These services significantly influence purchasing decisions for construction materials. Providing flexible delivery and installation services according to customer needs can offer comprehensive convenience to customers.