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.
No comments:
Post a Comment