As a homeowner, you know that renovations are always a possibility. Maybe you're due for an update on your kitchen or bathroom or maybe you're looking to add some extra living space by finishing the basement. No matter what your plans may be, it's always important to stay up-to-date on the latest trends and statistics in home renovations.
That's why we've put together this report on nine home renovation statistics that will help influence your decisions. Here are the top statistics we found:
Let's take a closer look at each statistic:
According to a recent survey, more than half of homeowners renovated in 2021, up four per cent from 49% in 2020. The most popular projects were painting (36%), followed by the kitchen (34%) and bathroom (32%) renovations. While the DIY trend has been on the rise in recent years, the survey found that only 19% of respondents completed their renovations themselves.
The majority of homeowners (81%) hired professional contractors to help with their projects. The top reasons for renovating were improving the look of the home (47%), increasing the home’s value (40%), and repairing damage from a previous renovation (32%). With so many homeowners embarking on renovation projects, it’s no wonder that the home improvement industry is booming.
Homeowners are planning to stay put and invest in their homes this year. A recent study found that 92% of homeowners plan to seek professional help for their renovations in 2021. This is a marked increase from previous years when many homeowners attempted to tackle projects on their own. There are several reasons for this trend.
Firstly, the pandemic has made us all more cautious about undertaking physical labour. Secondly, the increased popularity of home renovation shows has made us more aware of the potential risks involved in do-it-yourself projects. And finally, the current economic climate has made us more likely to seek professional help to save money in the long run.
Whatever the reasons, it is clear that homeowners are increasingly turning to professionals for help with their renovations.
When it comes to home renovations, kitchens are by far the most popular choice. This is understandable, as the kitchen is often the heart of the home and the one room that sees the most wear and tear. Renovating a kitchen can lead to a more efficient layout, updated appliances, and improved storage.
It can also be an opportunity to add personal touches and make the space more inviting. Whether you're considering a small update or a complete gut job, renovating your kitchen is a great way to add value to your home.
When it comes to home improvement, few rooms are as important as the kitchen. Not only is the kitchen the heart of the home, but it is also one of the most used rooms in the house. As a result, it is no surprise that kitchens commanded the highest spend of any room, averaging £12,000. While this may seem like a lot of money, it is important to remember that the kitchen is an investment.
A well-designed kitchen can add value to your home and make it infinitely more enjoyable to live in. When considering a kitchen renovation, be sure to work with a qualified designer who can help you create a space that meets your needs and budget.
A kitchen renovation is a big undertaking. In addition to the cost, it can take a lot of time and effort to plan everything out. According to a recent survey, the average amount of time spent planning a kitchen renovation is 10.2 months. This includes researching different materials and designs, comparing prices, and making sure that everything will fit in the space.
If you're thinking about renovating your kitchen, it's important to allow yourself plenty of time to plan. By taking your time and doing your research, you can make sure that your kitchen renovation goes smoothly and that you end up with the kitchen of your dreams.
Kitchen renovations are a big project that takes a lot of time and effort to complete. The average kitchen renovation takes 5.2 months to complete, from start to finish. This includes time for planning, design, demolition, and construction. The actual construction phase usually takes the longest, at an average of 3.8 months.
This is followed by the design phase, which takes an average of 1.3 months, and the demolition and planning phases, which each take an average of 0.5 months. Kitchen renovations can be a daunting task, but with proper planning and execution, the result can be worth the effort.
However, the actual time it takes to renovate a kitchen depends on the size and scope of the project. A small kitchen might only take a few weeks to renovate, while a larger kitchen could take up to six months or more. The important thing is to plan and be realistic about the timeline for your project. Otherwise, you could end up feeling frustrated with the process and disappointed with the results.
The average home renovation spending jumped by 20% from £15,000 (2020) to £18,000 (2021), according to a new report. The data, from Houzz, shows that the increase is driven by a combination of rising costs for building materials and labour, as well as an increase in the number of people undertaking home improvements. With the coronavirus pandemic causing many people to spend more time at home, it's no surprise that many are using this time to carry out long-awaited renovations.
Kitchen and bathroom installations are among the most popular project, with nearly a quarter (24%) of those surveyed planning to undertake these sorts of work in the next 12 months. With the average spend on a kitchen renovation now standing at £12,000 it's clear that people are willing to invest significant sums of money in their homes. So if you're planning your home improvement project, it's worth bearing in mind that you could end up spending more than you originally budgeted for.
According to a recent survey, nearly half of all homeowners plan to renovate their homes in the next year. While the pandemic has forced many of us to spend more time at home, it has also highlighted the need for updates and improvements. For some, this may mean adding an extra bedroom or bathroom to accommodate working from home or distance learning.
Others may be looking to update their kitchens or bathrooms with the latest fixtures and appliances. Whatever the case may be, it's clear that home renovations are top of mind for many homeowners. With interest rates remaining low and construction costs beginning to stabilize, now is a great time to start planning your home renovation.
By taking advantage of current market conditions, you can ensure that your home renovation is affordable and offers a promising ROI.
So, there you have it. These are just a few of the statistics that are influencing home renovations in 2021. Whether you're planning a small update or a complete overhaul, be sure to keep these numbers in mind as you budget and plan for your project. With careful planning and execution, you can ensure that your home renovation is both successful and affordable.
Take the first step and find out how to budget for a home renovation.
Source: Houzz & Home UK 2021