1.
Most Americans Prefer to Renovate
than Move
Uprooting your family and adapting to a
new routine can be challenging, which is
why 61% of Americans prefer renovating
rather than moving.
2. Kitchen Renovations Yield the
Biggest Returns
If you’re considering a home
renovation, you might want to start
with the kitchen, especially if
you’re considering selling the home.
The returns will depend on the
location and whether it’s a major or
minor kitchen remodel, but they can
go up to 92%.
3. Renovating Requires
Patience
Timelines are not always
accurate, and they’ll change
from time to time, so you’ll
need to be flexible and patient
throughout the renovation
process.
4. Smart Homes are
Increasing in Value
If you’re considering a home
renovation, you might want
to focus on built-in
technology and eco-friendly
solutions. This market is
expected to show an annual
growth rate of 10.22%,
according to Statista.
5. Renovation Costs
are Increasing
As construction
materials such as lumber
and paint increase, so
will the renovation
price. Before you start
your next project, take
time to window shop and
find out the prices of
the materials, and set a
budget that works for
your project.
6. More People
Prefer Larger
Renovations
Small renovations
may end up costing
more, so more people
are considering
larger renovations.
This has caused an
increase in large
renovations, which
is expected to
continue up to 2024.
7. Majority
of Houses in the
U.S. Were Built
Before 1980
This might
explain why
renovations are
on the rise.
Most homes need
remodeling
solutions
because the
houses are quite
old and need an
upgrade.
8.
Younger
People Lean
More Toward
DIY Projects
More than
30% of young
people under
the age of
34 prefer to
make DIY
home
projects
compared to
the older
demographic
aged 45-54,
which is
less than
20%.
However,
these
projects
must be
small
renovations
that don’t
require a
professional
to avoid
making
costly
mistakes.
9.
Consider
These
Five
Areas if
you Want
to
Decrease
Your
Home
Insurance
If you
want to
lower
your
home
insurance,
consider
adding a
home
security
system,
upgrading
the fire
system,
or
improving
the
plumbing
system.
Other
home
improvements
include
re-roofing
the home
and
updating
electrical
wiring.
10.
Choose
Your
Desired
Home
Appliances
Early
Home
appliance
searches
may
be
increasing
among
homeowners
because
they
are
an
essential
part
of
the
home
renovation
process.
As
you
renovate
your
home,
you
need
to
incorporate
the
appliances
earlier
into
the
design
to
ensure
that
nothing
looks
out
of
place.
Conclusion
If
you’re
thinking
about
taking
on
a
home
renovation
project,
consider
these
facts
and
stats
and
prepare
and
plan
accordingly.
Taking
time
to
make
a
plan
after
doing
your
research
will
save
you
a
lot
of
disappointment
and
ensure
that
you
avoid
unnecessary
mishaps
along
the
renovation
process.