Houzz Home Renovation Trends 2018
Findings from a survey of 130,735 U.S. homeowners on home remodeling and design platform Houzz.com about their home renovations in 2017 and plans for 2018 were recently released. Here are a few of the highlights:
Home Renovation Boom Continues: Half of homeowners on Houzz plan to begin or continue renovations in 2018 (51%), with a median planned spend of $10,000. Renovation activity and spend were strong in 2017, extending the boom of 2015 and 2016, with 58% of homeowners renovating their homes, at a median spend of $15,000. While homeowners who have lived in their current homes for six or more years drive the majority of renovations, activity among recent homebuyers is growing.
Kitchens and Bathrooms Lead Activities and Spend: The median spend on kitchen remodels increased 10% year over year in 2017, while master bathrooms overtook living/family rooms as the third-most-popular room to renovate, after kitchens and guest/other bathrooms. Four in five renovating homeowners report that kitchen and master bathroom upgrades increased the value of their homes (83% and 81%, respectively), far more than any other renovation project (48% to 76%).