Home Renovations on the Rise Simple Tips to Make the Most of Renovations

A recent survey reveals that close to one-third (32 percent) of U.S. homeowners feel the improving economy is motivating them to make home improvements that they would not have done during the recession.  More than six-in-ten (64 percent) of homeowners report they are at least somewhat likely to make home renovations in the next 12 months. 

The survey was released earlier this month by CouponCabin.com and conducted by Harris Interactive. Survey participants consisted of 2,232 U.S. adults age 18 and older, among which 1,389 are homeowners.

The survey also reveals that now is a popular time for making home improvements.  Close to 9 in 10 (87 percent) of homeowners believe that spring is the best time to make renovations.

So how much money are people willing to spend on home renovations?  About half of the homeowners (49 percent) report they would be willing to spend between $1,000 and $5,000 on home renovations. Another 26 percent report they would make small renovations under $1,000.

While home renovation projects vary by difficulty and price, over half of homeowners (59 percent) plan to complete their own renovations, without paying for outside help.

Common Renovation Projects

Houzz, an online platform for home remodeling and design conducted a similar survey. Houzz found that 28 percent of respondents plan on updating a bathroom in the next two years and 23 percent plan to remodel their kitchen.

1. Increase Curb Appeal: Updating the outside appearance of a home is essential, especially if a homeowner is planning to sell at some point. With a little simple landscaping and yard waste disposal, an outdoor eyesore can transform into a welcoming home entrance. 

2. Update the Kitchen: The kitchen is a popular spot for family and social gatherings, which makes it a central location for renovations. A granite countertop and new appliances add value and personality to any home.

3. Replace Flooring: Homeowners are becoming more interested in hardwood flooring, as it adds a timeless appeal and can be easier to clean. It can be a tough job to replace flooring throughout the house, but taking it room by room makes it easier to conquer.

4. Expand the Bathroom: Aside from the kitchen, the master bathroom is a great place to put some money into improvements. Adding new tiling or shower doors is a simple way to increase the room's value.

5. Increase Energy Efficiency: Energy efficiency is important throughout the entire year. Some essential improvements include sealing up air leaks that let cold air in, insulating the upstairs, installing energy efficient windows, and adding a programmable thermostat.

With renovations on the rise, hardware stores will probably offer some excellent tips and offers for completing DIY projects. Before homeowners jump into multiple projects, they should create a solid plan with reasonable goal deadlines. Additionally, renovating homeowners are faced with the task of throwing away lots of trash, so it's always a good idea to look into local recycling centers or roll-off dumpster rentals before beginning a project.