I don’t know about you, but I love reading through a good list of statistics—the concrete numbers, the surprising facts, the unexpected conversation starters! So today, both for fun and to better understand current American homeowners, we’re looking at a list of 2014 renovation trends recorded by Houzz in their survey of nearly 200,000 American homeowners. If you’re interested in what homeowners are doing this year and why, you’ll love this survey. You’ll learn why people are choosing to remodel, how long it takes to plan renovation projects, and how homeowners are choosing their contractors, amongst other things. So scroll down to check out some 2014 renovation trends, according to Houzz’s homeowner survey.
2014 Renovation Trends
Regarding their motivations for remodeling, the homeowners were asked to select all the applicable reasons from a list of several options. As you might have guessed, most homeowners are remodeling to “improve the look and feel of the space” (78%). However, quite a few are remodeling to improve their home’s functionality (54%) and value (52%), and 47% are planning to upgrade their home’s design features or appliances. Only 30% included energy efficiency as a motivation to remodel, and most homeowners who chose this motivation live in the West or Northeast, according to Houzz’s 2014 renovation trends survey.
What remodeling projects do you have planned for the next two years?
When the homeowners were asked to map out their renovation plans for the next couple of years, the most common planned projects were bathroom remodels/additions (26%) and kitchen remodels/additions (22%). These 2014 renovation trends echo the results of last year’s survey, which also had bathrooms and kitchens at the top. Following the two most popular projects, there were floor renovations (18%), patio/landscaping (17%), window/door (14%), deck/porch (14%), closet (10%), and bedroom (10%).
How long does it take to plan a remodeling project?
The survey asked homeowners how long it took them to plan recent remodeling projects, from the initial research to the first day of construction. The building of a custom home took over a year (12.6 months) and a complete home remodel took the better part of a year (9.7 months). Most other remodeling projects (kitchen, family room, pool, bedroom, patio, etc.) took between 6 and 7 months.
What do you value when hiring a contractor or housing professional?
Choosing a contractor can be tough, so it’s no surprise that most homeowners rely on recommendations and reviews (83%). They are also hoping to find someone who is an expert in that particular field (70%), has a compatible personality (60%), and completed similar projects in past (53%). Most homeowners have also realized that “you get what you pay for” in terms of cost, so only 7% list “finding the least expensive option” as one of their top priorities when hiring a contractor or housing professional.
How will you pay for your home renovations this year?
When the bill arrives, most homeowners will pay for their remodeling projects in cash, using their personal savings (80%). Very few homeowners will be refinancing their mortgage or borrowing the funds (whether from friends, family, or their own retirement savings).
I hope you found these 2014 renovation trends interesting!
Now that you’ve learned about 2014 renovation trends, perhaps you’re ready to get started on your own home remodeling project. If so, give The Bailey Company a call if you live in southwest Missouri. No matter what stage of the renovation process you’re currently in (design, demolition, pre-construction, construction), we would be happy to step in and help you finish the project. For more information, please click here or give us a call at 417-887-6177.
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