The incredibly popular Home Improvement website Houzz.com has just published their 3rd annual ‘Houzz and Home Survey’ sampling 135,000 U.S. residents among 190,000 Homeowners worldwide. The survey found that, with the exception of Millennials, about 66% of U.S. Homeowners who are remodeling their homes plan on staying in them for the long term.
The survey also found that 53% of U.S. Homeowners are remodeling to increase the resale value of their home yet have no plans on moving in the next 5 years and just 16% of them plan to sell their home in the next 2 years.
So, while Homeowners may still be cautious about the economy 3/4th’s of those surveyed said that their local housing market has improved, AND the survey showed that there was a significant drop in the percentage of Homeowners who said funding their renovation project or staying on budget was a challenge this year. Those who reported a significantly improved local housing market are more than TWICE as likely to plan a Remodel than they are to move in the next 2 years.
The Houzz and Home survey noted that cash has remained as the dominant source of financing across all age groups and areas of the country, with 80% of Homeowners saying they paid for their last remodeling project out of pocket.
Lastly, the survey found that Bathrooms and Kitchens are the most popular renovation projects, with 26% of respondents planning a Bathroom Remodel or Addition and 22% planning a Kitchen Remodel or Addition in the next 2 years. The survey also states that Kitchens continue to receive the highest share of dollars overall, with U.S. Homeowners spending an average of $26,172 to remodel this space.
At Pykles, we know that the Investment our clients make in their homes is not only financial, but very emotional as well. Rather than opting to move, the majority of Pykles’ Homeowners and clients undertaking renovation projects choose to stay in their homes because they WANT to stay in their homes. NOT because they can’t afford to move. Significantly more Homeowners are able to fund their remodeling projects this year compared with last year and we see them investing to create a home that meets their needs NOW and for the Long-Term.
If you are one of the 39% of Homeowners planning a project for YOUR Home in the next 2 years who intend to hire a Kitchen & Bath Pro, LOOK NO FURTHER.
Pykles is dedicated to providing the Best Quality materials, labor and design to make your House the Home you’ve always wanted. Your House, and more importantly Your Family is Safe with Pykles.
Pykles Remodeling – 8348 Center Dr. Ste. A La Mesa, CA 91942 – (619) 463-1600 P – (619) 668-4683 F
