How many people remodel their home

Conversely, among homeowners planning to renovate or remodel in the next two years, the top reason for not selling instead is simply that they want to stay in their current home 40 percent , followed by homeowners saying they want to stay in their current neighborhood 28 percent. Younger homeowners are more likely to remodel or renovate than older ones.

Ninety-two percent of homeowners aged to say they would ever remodel or renovate, compared to 81 percent of homeowners 65 and over. These younger, likely first-time homeowners may be finding themselves in starter homes that need more fixing up. The share of homeowners that ever want to remodel or renovate is up from 84 percent in to 90 percent this year.

The most commonly cited rooms homeowners planning to remodel or renovate will take on are the kitchen 50 percent and bathroom 45 percent. These rooms are perhaps the ones that most easily and quickly become dated in the house — hardware and appliances break down and need replacing, while finishings such as cabinets and countertops can fall behind the trends. But other rooms are often remodeled or renovated too — 28 percent of homeowners want to remodel the bedroom and 27 percent want to remodel the living room.

Perhaps homeowners are too optimistic when tasked with setting a budget, but many renovation efforts can be minor and inexpensive — a fresh coat of paint can go a long way in sprucing up a home. At Trulia, we understand that finding the perfect home and neighborhood is never easy. These online surveys are not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.

One can decide whether or not they would like to hire help for their renovations. While deciding to renovate by yourself can be cost effective, it might not always be the safest or most practical way. However, the amount of homeowners who decided to hire a general contractor to help with their renovations has decreased since However, these renovations come at a price.

The leading reason for renovation projects going over budget in was because homeowners decided to buy more expensive products or materials. Loading statistic Show source. Download for free You need to log in to download this statistic Register for free Already a member?

Log in. Show detailed source information? Register for free Already a member? More information. Supplementary notes. Other statistics on the topic. Profit from additional features with an Employee Account. Please create an employee account to be able to mark statistics as favorites. Then you can access your favorite statistics via the star in the header.

Profit from additional features by authenticating your Admin account. Then you will be able to mark statistics as favourites and use personal statistics alerts. Please log in to access our additional functions. Homeowners are likely getting extra incentive from the record high amount of home equity they now have. Home prices continue to gain, despite the economic downturn, as demand for housing soars. That is Justin Sullivan, who is also a contractor, says he is seeing more people use their home equity to fund these projects.

Sheltering at home clearly influenced demand, as more than three-quarters of all U. More than three-quarters also said they plan to take on a new project in the next 12 months. The top motivator was, "finally having the time," according to the report. Next was adding value to the home and, finally, making the home "feel more cozy.