![]() Steve always made sure to make any touch ups needed after the subcontractors finished their work. Steve was omnipresent; always making sure the job got done right no matter what stage it was in. His other subcontractors, including work on tile, plastering, and electrical, were all as pleasant and reliable as Steve himself. Moreover, he agreed to work with our plumber with whom we are friends and already felt very comfortable with working on our home. His advice was invaluable, and responsiveness immediate. He did everything possible to be respectful of our budget, even as we ran into a few (to be expected in an older home) small surprises. Steve was incredibly detail oriented, yet flexible and patient in working with and advising us as we designed most of the kitchen and small addition project ourselves. renovation in 20 here.“After interviewing several contractors, we are so glad we hired Steve and his crew to completely rebuild and expand our 1950s kitchen in our 1920s fixer-upper. In addition to electrical upgrades becoming more common in 2022, more than one in five homeowners made upgrades to their cooling and heating systems in 2022, which were the two home systems with the highest median spends ($5,500 and $5,000, respectively). Nearly three in 10 homeowners upgraded their plumbing in 2022 (29%), while 28% completed electrical projects and 25% focused on home automation projects. While interior spaces are the most common focus for renovations, the survey found that homeowners are also focusing on home system improvements as the median age of homes in the U.S. That said, the Gen X generation surpassed Baby Boomers in the median renovation spend for the first time in 2022, reaching a median spend of $25,000 compared to the median spend of $24,000 for Baby Boomers. Gen Xers follow at a distance at 27%, while Millennials make up 9% of renovating homeowners. When looking at renovation projects by generation, baby boomers lead in renovation activity as the largest group of renovating homeowners (59%) in 2022. Though homeowners hired specialty service providers most frequently for their renovation projects in 2022 (46%), there was an increase in the share of homeowners who relied on construction professionals, like general contractors and home remodelers (44%), as well as design-related professionals (26%). Homeowners are also spending the most on kitchens and primary bathrooms, with a median spend of $20,000 and $13,500, respectively. ![]() Kitchen and bathroom remodels remain the top projects among interior renovations, as a larger share of homeowners upgraded these spaces in 2022 (28% and 25%, respectively) compared to 2021 (27% and 24%, respectively). Hence, interior room remodels had the highest frequency in 2022 compared to other home projects. Interior spaces are the most popular areas to renovate, with homeowners tackling an average of nearly three interior projects at a time. Kitchens & Bathrooms are Main Attractions In 2023, the anticipated median spend is $15,000 and $85,000 for higher-budget projects. According to the study, the median spend for home renovations in 2022 was $22,000, whereas the median for higher-budget updates reached $140,000 or more. Renovation activity is also continuing into 2023 with more than half of homeowners (55%) planning home improvement projects this year.Īs more people take on renovation projects, they are also investing more money into their homes. Nearly three in five homeowners remodeled or decorated in 2022 (58% and 57%, respectively), while nearly half made repairs (48%). The study’s findings also saw an increase in renovation activity and spending. Additionally, there are fewer homeowners (6% this year compared to 12% in 2018) who are renovating their homes with a plan to sell it soon after, suggesting that homeowners are investing in long-term renovation projects that they intend to enjoy for many years to come. The survey found that more than three in five homeowners (61%) who completed a renovation in 2022 plan to stay in their home for 11 years or more. homeowners, about their home renovations in 2022 and renovation plans for 2023.Īs last year’s surge in renovation activities continues into 2023, here are some of the main renovation trends that have been seen across U.S. ![]() More homeowners are renovating their homes and are also spending more money on home improvement projects, according to recent findings from Houzz, which surveyed 46,118 of its users, including 24,667 renovating U.S. ![]()
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