Remodeling Report

Remodeling Report

Review of Houzz survey

 

Houzz released a survey taken on “Renovations in America”. More than 106,000 users of Houzz responded and here is what they found.

From 2012 to 2013 there has been an overall increase of confidence among homeowners in renovation and the housing market. Bathroom and kitchen main focus of renovations. Finally, more homeowners are investing in the value of their home.

 

Renovations

53% of those served said “Now is a good time to remodel”. 75% of those surveyed said that now was a good time to buy a new home. According to the commerce department the rate for single family home construction is at its highest in four and a half years. 48% of those surveyed said they are looking to remodel in the next two years.

 

Kitchen and bath

Topping the list of priority and price are Kitchen and Bath renovations. The survey asked what you are planning to do in the next two years. Top two were, 28% said Kitchen renovation and 23% Bath. In the U. S. the average spent on Bathroom renovation was $11,566. The average spent on High End was $25,018, Mid-Range $10,422, and Low Budget was $2,896.

 

Why people remodeled

A surprising find of the survey was that most people remodeled to please themselves vs for resale value. The motivation to remodel was overwhelmingly to improve the look, feel and flow of their home.

Motivation in the North East

Improving the look feel, flow & layout 82%

-Increasing home Value 55%

-Upgrading features/appliances 53%

-Improving organization/storage 44%

-Increasing energy Efficiency 38%

-Incorporating new technologies for the Home 18%

 

 

 

Renovation in America, Findings from the 2013 Houzz & Home survey       www.houzz.com

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