According to a new 2016 Houzz Home Report:
“Spending is on the rise for kitchen and bathroom renovation projects, according to the fifth annual Houzz & Home survey of more than 120,000 respondents in the U.S. Overall renovation activity remains high, with more than half of homeowners on Houzz renovating their homes in 2015.
“Key findings include:
- Renovation Motivations: The desire to stay put is the primary motivation for renovating vs. buying a “perfect” home, trumping financial considerations
- Top Activity Drivers: Recent home buyers are a key driver of renovation activity, with new home purchases inspiring more than a quarter of renovations
- Budget? What Budget? Nearly one-third of homeowners take on a remodeling project without setting a budget – the same share exceeds an established budget”
Download the full report to learn more about top remodeling projects and their motivations, how renovation behavior differs between new home purchasers and home sellers, remodeling trends among millennial homeowners, project budgets and much more.
Be sure to follow L&M Construction on Houzz!