Home Renovations Up in 2013

Blog, Design Tips, Market Updates, Real Estate News
This is the year renovations make a come back according to the second annual Houzz & Home survey, which gathered more than 100,000 responses from Houzz’s 14 million monthly unique visitors. Moving forward with decorating and redecorating projects has increased by 12 percent compared to this time last year. While improving the look and feel of a space is still the key driver for recently completed home design projects (83 percent said so), the number of homeowners who have or will make improvements to increase their home’s value rose 7 percent, to 54 percent, up from 47 percent.  Most homeowners don’t plan to tackle home design projects alone. Among those planning projects in the next two years, 58 percent are planning to hire professional help. And where will the money go? The most popular areas where homeowners undertake projects year after year are bathrooms and kitchens. During the past five years, homeowners spent an average of $28,030 on kitchen remodels. Meanwhile, they spent $10,422 on average on bathroom renovations.