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Wednesday, July 6, 2011

Increase in Homeowners Who Say They Will Remodel

As published in Remodeling Magazine, a recent U.S. Remodeling Sentiment Report reveals a 13% increase in the number of homeowners who say they will remodel this year. This increase follows a 5% increase in last year’s report. Highlights from the report show:
·         Adding a bathroom is now the most popular project.
·        Interest in do-it-yourself projects, both the actual building as well as acting as their own general contractor, has remained steady throughout the economic downturn.
·        Economizing on the cost of materials is growing in popularity at the same time, as fewer homeowners are reporting they will use expensive materials for their remodel. The percentage of homeowners reporting they will use average costing materials remains the same.
·        The number of homeowners reporting they are excited about remodeling has climbed to an all-time high of 54%.
Summary results from the report:
Homeowners who report they:                 2008           2010 Plan to hire a general contractor                  66%          64%
Plan to do some of the remodeling work     67%          66%
Are excited about remodeling                      48%          54%
Plan to remodel a bathroom                         49%          42%
Plan to remodel the kitchen                          55%          48%
Plan to add a bathroom                                49%          53%

How about you? What are you waiting for?

1 comment:

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