A well maintained home sells for 10 percent more, increasing value by $44,000 nationwide
SAN FRANCISCO–(BUSINESS WIRE)–Thumbtack today announced it is aggressively expanding the scope of its business by launching the first-ever home care experience, designed to build a long-term partnership with homeowners in the continuous care of their largest asset.
“Technology innovation has focused on helping people buy and sell homes. But, we are the first to create the technology to proactively care for the home — from moving in to moving out, and all of the moments in between,” said Marco Zappacosta, co-founder and CEO of Thumbtack. “With Thumbtack, homeowners now have a go-to partner to give their homes the care it deserves, maximize value and find peace of mind.”
Thumbtack is launching a number of new offerings to guide homeowners through everything they need to do to care for their home, every step of the way. Today, 68 percent of homeowners feel overwhelmed, confused or stressed about maintaining their homes. This new home care experience helps homeowners know what to do, when to do it, and who to hire.
- The Thumbtack membership program: The Thumbtack membership program ($49 per year) is the first to drive continued engagement for homeowners by providing support as they navigate repair, maintenance, and improvement projects. Members will get one-on-one guidance from a home specialist to take the guesswork out of high-budget projects through help with planning, budgeting and hiring the right independent professional. In addition, they will receive an exclusive $10,000 money-back guarantee (terms apply) as well as 20 percent discounts for on-demand bookings (described below).
- Personalized maintenance guides: These prioritized, seasonal plans will help homeowners keep their home running smoothly and avoid costly emergency repairs. Customized to include the most important tasks, season-by-season, based on your specific home, location, and informed by data from millions of projects started on Thumbtack. Directly from these new guides, homeowners can book a pro in one click, making it easy to get things done.
- On-demand bookings: Thumbtack’s on-demand bookings conveniently match homeowners in seconds with vetted, independent pros and feature competitive, fixed upfront pricing in more than 10 categories that include house cleaning, gutter cleaning, junk removal, TV mounting, pest control services, carpet cleaning, window cleaning, roof inspections, pool cleaning, home inspection, and pressure washing. The list of on-demand booking categories is continually expanding.
Homes are complex systems that do not come with an owner’s manual, yet the need is high: 79 percent of new homeowners report they would be better prepared with a personalized home care plan. And, according to a recent survey of realtors conducted in partnership with OJO, a well maintained home sells for 10 percent more, increasing its value by $44,000 nationwide, and providing homeowners with a long-term incentive to proactively care for their homes while saving money on costly emergency repairs.
This year, the company will personalize this experience further by incorporating a home’s specific features, history, and past projects, while utilizing exact location and individual home goals. In the future, Thumbtack will launch guided experiences across the entire homeowner journey, such as energy savings, baby-proofing, kitchen remodels, moving, and more.
“It’s easy to book a home to stay in for a week or a car to the airport. But, until now, there’s been no platform that can tell a homeowner it’s time to service their air conditioning and book a pro for the job in seconds,” Zappacosta said. “There is pent up demand, and we see a big opportunity to deliver what today’s homeowners need and expect — replacing what’s long been frustrating and time-consuming with a guided, convenient, and reliable solution.”
This ambitious new home care experience comes at a time when Thumbtack is seeing soaring business momentum. Revenue in 2021 grew 40 percent compared to the prior year, and gross profit margins for the business remain greater than 90 percent.
To learn about Thumbtack’s groundbreaking home care experience, download the Thumbtack app (available on iOS and Android).
Home Care Survey Methodology
Thumbtack conducted a survey of the general population from 3/7/2022 to 3/10/2022 of 1,720 U.S. adults aged 18 or higher, balanced by age and gender according to U.S. Census estimates. Results have a margin of error of +/- 2.4%. New homeowners are defined as homeowners who purchased their home in the past two years.
Thumbtack + OJO Survey Methodology
A survey of 1,068 professional realtors was conducted by OJO from 4/20/2022 – 5/2/2022. Respondents were asked to provide a response to the sales premium that a well maintained home receives rounded to the nearest percentage point. The median percentage value is reported in the analysis. We then calculated the average home value increase based on the median home sale price according to the Census Monthly New Residential Sales report.
Thumbtack is a technology leader building the modern home management platform. Through the Thumbtack app, homeowners can effortlessly manage their homes — confidently knowing what to do, when to do it, and who to hire. Bringing the $500 billion home services industry online, Thumbtack empowers millions of homeowners to fix, maintain, and improve their most valuable asset. The company is backed by Sequoia Capital, Tiger Global Management, Javelin Venture Partners, Baillie Gifford, and CapitalG, among others.
Laura Arrubla Toro | [email protected]