Houzz, a social media platform for home remodeling and design, conducted their largest annual survey of 67,554 homeowners doing home improvements to ascertain what home remodeling projects were being done in 2022 based on the age of the home. With the limited inventory of homes for sale and the increase of sales price and mortgage rates, more people chose to renovate rather than move. These results can be a means to consider what are, or anticipate what will be, the needs for your own home. Overall, interior home remodeling was the most popular trend for all homes of all ages. Here are the priorities for home remodeling projects in these 20-year span groupings:
Homes built between 1961-1980. Homeowners in this group invested a median of $20,000, with the top 10% spending an average of $100,000 on their home improvement projects. Seventy-four percent of the projects focused on interior home remodeling. Twenty-nine percent did kitchen remodeling, and 28% included bathroom remodeling. Along with that, 32% improved their household plumbing, and 30% their electrical system. Homeowners with homes this age and those with homes built between 1981 to 2000 (reported next) both had the highest rate spent on home automation (25%).
Homes built between 1981-2000. These homeowners comprised the largest group of remodeling done in this survey (29%). They also spent a median of $20,000, with the top 10% investing an average of $104,000. They were slightly more focused on interior home remodeling (75%). They included remodeling their kitchens and bathrooms more than any other grouping (31%). Twenty-six percent included redoing the plumbing in their home, and this age of home had the highest inclusion of home security and cooling systems added, both at 22%.
Homes built from 2001 on. Newer home systems negated the need to change it, e.g., no one needed to improve their electrical systems, so the median spent was $15,000, with the top 10% investing an average of $90,000. The top interior projects were kitchen (24%), bathrooms (21%), adding home automation (22%), and home security (21%). This group spent more on exterior projects than the previous eras (59%), with the top project being outdoor lighting (25%).
With the start of the new year, perhaps you will want to make plans for home remodeling projects to do in 2023. Make the time to plan your needed home resolutions now to enjoy your customized living environment sooner!
Happy Home Remodeling! Happy New Year!
Janet Cook, certified health coach and Aging in Place Specialist, president of Cook Remodeling (celebrating their 44th year), invites you to check out their website for photos and more ideas.