Nearly three-quarters of homeowners plan to make home improvement projects in 2019, a 26% increase from 2018, the LightStream Home Improvement Survey finds. The survey, conducted by The Harris Poll, also finds that homeowners plan to spend $9,000 on average for a renovation project, a 32% increase from 2018. Additionally, 11% of homeowners plan to spend more than $25,000 on their homes in 2019, a 83% year-over-year increase.
Nearly six in ten of the respondents plan to stay in their current home for at least 10 years or never move, favoring renovations to reflect their lifestyles rather than those that increase resale values. The LightStream Survey found outdoor projects are the most popular project for homeowners, with 41% planning to make upgrades outside their home. Homeowners also want to remodel bathrooms (37%) and the kitchen (31%) and do home repairs, such as window or roof projects (29%).
The LightStream Home Improvement Survey polled 1,258 homeowners online between January 8 and January 10, 2019. Of the 1,258 respondents, 877 indicated they are planning home improvement projects in 2019. Year over year comparisons were derived from the 2018 LightStream Home Improvement Survey of 1,413 homeowners—including 795 planning home improvement projects.Read More