![]() Kitchen and bathroom remodels remain the top projects, and a larger share of homeowners upgraded these spaces in 2022 (28% and 25%, respectively) compared with 2021 (27% and 24%, respectively). Kitchens and Bathrooms are the Main Attractions: Interior spaces are the most popular areas to renovate (72%), and homeowners tackle an average of nearly three interior projects at a time. Renovation activity is continu ing in 2023, with more than half of homeowners (55%) planning projects this year, and with an anticipated median spend of $15,000 (or $85,000 for higher-budget projects). The median spend for home renovations in 2022 was $22,000, whereas the median for higher-budget updates (with the top 10% of spend) reached $140,000 or more. Renovation Activity Continues: Nearly 3 in 5 homeowners remodeled or decorated in 2022 (58% and 57%, respectively),and nearly half made repairs (48%). ![]() Additionally, the share of homeowners undertaking renovations with a plan to sell their home soon has declined by half since 2018 (6% this year compared with 12% in 2018). Try a demo to see for yourself.Homeowners Renovate for the Long Run: More than 3 in 5 homeowners (61%) stated that they plan to stay in their home for 11 years or more following their renovation in 2022. Houzz Pro’s 3D floor plan design app checks all of the boxes on this wishlist. When you need to create a tear sheet, all of your products are organized by project ready to be sourced in a flash. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |