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US home owners ready to renovate

Posted by Sinks on 27th Jun 2017

Most U.S. homeowners believe that now is the right time to renovate their property, according to a new survey. The largest ever study of home renovation and design has revealed that more U.S. homeowners are pressing ahead with home and kitchen renovation projects compared to this time last year. The annual Houzz Home survey gathered more than 100,000 responses from the Houzz community of 14 million monthly unique users. More than half (53 per cent) said they believed now was a good time to remodel. Almost 60 per cent of householders planning remodelling projects in the next two years said they would hire professional help. The study also found that three-quarters of homeowners believe that now is a good time to purchase a property. The survey results, combined with last weeks Commerce Department report showing the rate of single-family home construction at its highest level in more than four years, indicate a strengthening housing and renovation market. The 2013 Houzz Home survey is the largest survey of remodelling activity ever conducted, covering remodelling projects, householders views on renovation and the impact of the economy on home building, renovation and decorating plans among Houzz users across the United States and around the world. The number of homeowners who plan to delay renovation work due to fears about the economy has dropped to 45 percent from 52 percent last year. Householders have also revealed that they are more likely to cut back in other areas, such as holidays, rather than delay or cut back on their renovation plans. Whilst personal preference is still the main motivation for projects, the number of homeowners who remodelled to increase their property value increased to 54 percent from 47 percent in 2012. Liza Hausman, vice president of community for Houzz, said Weve collected an unprecedented volume of data from the community and we are pleased to share the synthesis and findings with everyone looking to renovate or decorate their home. This data will enable us to empower the community with powerful resources they can use to make better decisions around building, remodelling and design projects.