Houzz’s fifth annual survey of over 120,000 U.S. homeowners has found that over half (61%) doing home remodeling projects. The majority want to stay in their home rather than move, and did home remodeling to personalize their home to their vision. Twenty-five percent of those who did home remodeling did so after they made a home purchase. Both groups plan on staying in their home at least 6-10 years. Homeowners are spending more on kitchen remodeling and bathroom remodeling, with living room remodeling coming in third in popularity to facilitate their lifestyle.
One third of those doing home remodeling had no set budget for their project, and one third did have a remodeling budget. Forty-five percent of those with a budget increased their budget to go more upscale in the selections (45%), and/or increase the scope of the project (33%). Twenty eight of the respondents said they found remodeling to be more affordable, and is a better return on their investment than in previous years.
The survey found that the average length of the construction phase of an interior remodel took from 2.5 months to 5 months, with some kitchen remodeling and master bathroom remodeling projects taking more than 6 months to complete. The construction phase is only about a third of the time of the entire process. The rest of the time is needed for design and ordering of materials. This is the average length of time per project of interior remodeling (additions not included):
• kitchen remodeling, 5.0 months
• master bathroom remodeling, 3.9 months
• other bathroom remodeling, 3.4 months
• laundry room remodeling, 3.1 months
• closet remodeling, 2.5 months
• other rooms (family/living, dining, home office, other bedroom, entry) 3.5 months
Those who had just purchased a home spent an average of $66,000 on a home remodeling project. Those aged 35-54 living in their home spent an average of $52,100, and those who were over 55 spent an average of $73,300. Of those remodeling their kitchens (31%), they spent an average of $50,700. Those remodeling their bathrooms (26%) spent an average of $25,600.
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