Wednesday, July 15, 2015

Home Renovation Survey Results

When you are researching home renovation projects, one reliable resources to focus your research on is the Houzz and Home renovation survey. The Houzz and Home 2015 survey is a fantastic way to focus your time and energy to help you plan what you want to do this year and next year. The following are the report highlights, but you can also review the full report if you have time.
What the Survey is All About
The survey asks homeowners about home renovations and the eight factors to consider when planning a renovation project:
  • Functionality
  • Energy efficiency
  • Sustainable materials
  • Resale value of the home
  • Cost for the renovation
  • Design considerations
  • Health aspects
  • Smart technology
The survey looks at where homeowners are more likely to focus their attention, which can help you when you are evaluating the cost effectiveness of a home renovation project or when you are investigating the different home renovation companies being considered for the project. Anything that is considered of high importance to a homeowner is going to be something to consider when choosing your home renovation partner.
Ranking the two aspects that most people considered of high importance were improving the design of their home and the home’s functionality.
Three categories ranked very high for being incredibly important with over 60% of home owners choosing these categories:
  • Improving the home’s resale value
  • Making the home more energy efficient
  • Reducing costs
The next three areas - health, materials, and smart technology - ranked as very important among the respondents of the survey.
Notable Findings
There were several factors that were noticed in the survey results:
  • Those with an income under $50K a year ranked reducing the number of renovations to be considerably more important than those who earned over $500K a year
  • Regardless of income, those surveyed found resale value to be extremely important when deciding which renovation projects to do
  • Younger homeowners placed more emphasis on reducing renovations and resale value than older homeowners
  • Younger homeowners ranked health considerably higher than older homeowners, but older homeowners were more likely to focus on greener solutions
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