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Home renovation

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Home sweet home it may be, but plenty of homeowners took on projects last year to make their space an even better fit for their needs.

Nearly two-thirds of users of home remodeling and design website Houzz did a remodeling or redecorating project last year, according to the a site survey of 260,000 consumers (including 170,000 based in the United States). Key reasons: Improving the look, feel and functionality of the space and boosting resale value.

Trends show several signs of economic improvement—or at least, improved consumer confidence, said Nino Sitchinava, principal economist for Houzz. "Just the magnitude of the discretionary projects is quite remarkable," she said. Better still, they're not borrowing to complete the work: 87 percent said they paid in cash from savings.

Prices varied by scale of the project and whether homeowners hired a pro or went the do-it-yourself route, but Houzz came up with average costs for the 22 most popular remodeling and upgrade projects undertaken by homeowners. The popularity percentages are based on Houzz users who did a remodeling project last year and the percentages for 2015 plans are based on users who want to make big-ticket purchases this year.

By's Kelli B. Grant
Posted 13 June 2015

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