For remodels, homeowners want function, low energy costs and a look all their own
Posted on Monday, June 29, 2015 at 12:42:21 AM
Research shows that these days most people in search of home improvement financing are planning renovations that improve the main home structure, lower certain costs down the road and enhance functionality.
The survey of 400,000 Houzz users sought to identify the latest trends in renovation, custom building and decorating. Notably, 69 percent of renovations were upgrades to the main structure of the home. And the reasons behind these projects often related to saving money and improving value. Other top concerns were improving the design and the look and feel of the home, including sustainable materials, implementing smart technology and addressing health issues.
Survey respondents explained that their home improvement financing went toward projects that increased their houses' resale values, lowered their energy payments, cut future costs and upgraded functionality. Most often, these projects focused on two rooms: the bathroom and the kitchen. Small updates cost around $11,700, while major projects priced out at up to $48,000.
More than half of the homeowners surveyed renovated their houses last year, and often, these are being planned with long-term functionality in mind. Ultimately, these people want their home improvement financing to pay off and improve their lives.