The U.S. Remodeling Sentiment Report reveals a 13% increase in the number of homeowners who say they will remodel in the next 12 months. This increase follows a 5% increase in last year’s report. The Spring 2010 Sentiment Report, is a survey by www.remodelormove.com of 5,000 homeowners in the U.S. who are considering remodeling. The report also shows that the recession has had several impacts on U.S. homeowners. These include:
The most popular projects in the past– remodeling the kitchen and bathrooms– have decreased in popularity. Adding a bathroom is now the most popular project.
Interest in do-it-yourself projects, both the actual building as well as acting as their own general contractor, has remained steady throughout the economic downturn.
Economizing on the cost of materials is growing in popularity at the same time, as fewer homeowners are reporting they will use expensive materials for their remodel. The percentage of homeowners reporting they will use average costing materials remains the same.
The number of homeowners reporting they are excited about remodeling has climbed to an all-time high of 54%.
Summary results from the report:
Homeowners who report they: 2008 2010
Plan to hire a general contractor 66% 64%
Plan to do some of the remodeling work 67% 66%
Are excited about remodeling 48% 54%
Plan to remodel a bathroom 49% 42%
Plan to remodel the kitchen 55% 48%
Plan to add a bathroom 49% 53%
Click here for a detailed report. --Nina Patel, Senior Editor, Remodeling