Sixty-seven percent of consumers say they’re planning a home renovation within the next six months, according to realtor.com®’s Home Improvement Survey of more than 1,500 home owners. They’re planning to spend more money on their renovations than last year, the survey found.
The most common budget range for home improvements was between $2,001 and $5,000. Eighteen percent of respondents who say they plan to renovate before the end of the year are budgeting $10,000 to $20,000 on their renovation.
Respondents indicated that these are the most popular areas of the home to renovate: the kitchen (61%), bathrooms (59%), backyards or patios (33%), and the exterior of the home (32%).
“With 32 percent of consumers planning to spend money on improving the look and feel of their homes, home buyers should think about purchasing homes that require renovations,” says Barbara O’Connor, chief marketing officer for Move Inc. “By considering these kinds of homes, buyers open themselves up to more affordable options and the ability to renovate their homes to fit their specific needs and tastes.”
Additional survey findings at: Source Move Inc.