Houzz.com Reveals Who Is Renovating Their Home…Why…and How
Houzz.com, an online platform for home remodeling and design information, recently published the “2015 Houzz & Home survey.” The survey revealed that more than half of homeowners renovated their homes in 2014. The spike in renovation projects was linked to findings that homeowners 45 to 64 years old finally have money and time to remodel, while homeowners under 44 years old (including Millennials) have recently purchased a house.
The Houzz survey identified Baby Boomers (55+) lead in amount of investment. For example, Baby Boomers (55+) spent, on average, twice as much or more on a kitchen remodel as Millennial homeowners. The survey also found that more than half of households with owners who are over 60 years old are planning to age in place, so home modifications are focused on universal design.
What Drives a Remodel?
The experts at Wineteer Construction agree with the survey findings about the driving factors for making renovation choices. According to the Houzz survey, the top driving factors include:
Improving design/look & feel
Increasing resale value
Improving energy efficiency
Preventing or addressing health concerns
Integrating green/sustainable materials
Integrating smart technology
A majority of 2014’s remodel projects were interior enhancements, rather than necessary improvements to a home’s structure. Homeowners focused on remodeling their kitchen, bath and living/family room spaces.