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Homeowners’ Top Renovation Plans Right Now

A Sneak Peek at Homeowners’ Top Renovation Plans Right Now—and in the New Year

By Jennifer Kelly Geddes Nov 10, 2022

Inflation, recession, supply chain problems—apparently, none of these things will stop homeowners from fixing up their humble abodes. A new survey from Houzz polling 4,000 homeowners in October found that only 1% had canceled a home improvement project recently. On the contrary, it’s full steam ahead: More than a third (37%) proudly say they’ve finished a home renovation project in 2022, with half of this cohort saying they’ll start hammering away on new upgrades starting next year. These survey results underscore how undeterred homeowners are when it comes to making their homes more comfortable, “despite various industry and economic headwinds,” notes Houzz economist Marine Sargsyan.
Photo by Diane Bishop Interiors
Even more surprising? Folks aren’t fixing up their houses with the intention of selling anytime soon. They’re in it for the long haul. “More than half of the homeowners we surveyed have no intention of selling or moving out of their current residences in the next 20 years—or ever,” says Sargsyan. A key takeaway from this study: Improve the lot you own, rather than move and face skyrocketing mortgage rates, which have just recently reached a 20-year high and could spiral even higher next year. Among the priority updates slated for the new year are projects for the bathroom (37%) and kitchen (33%). And folks are ready to shell out to get what they want, as the planned median amount they’ll spend is a sizable $25,000. Here’s more from the report, including the most popular renovations, the difficulties people face during these rehab projects, and more that might inspire you to try improving your own domicile, too.
Photo by Wilber Windows & Doors

Exteriors are getting new windows and skylights

Among those who are sprucing up their exteriors, windows or skylights were the most popular improvement (43%), closely followed by new doors (42%), paint (36%), porches or balconies (32%), and decks (31%).

Many old houses need new plumbing and electrical

Remaining in an older home means the mechanicals are in need of some love—and money. “A continuing focus on systems updates stands to reason given that the median age of a home in the U.S. is over 40 years,” says Sargsyan. The top improvements here were electrical (49%) and plumbing (48%), and then heating and security (tied at 34%).


The top challenges renovating today

Despite their resolve to renovate, forging ahead takes steely nerves. Homeowners reported supply chain backups and trouble nabbing the right materials and products as the two top challenges they faced equally at 37%. Other woes included finding the right pros to help on the job and staying on budget (both 27%). Timing is hard to nail, with many folks misjudging how long it takes to plan and start a project. Fact: It takes an average of nine months or more to complete a renovation. “And home remodeling and design professionals are currently working with long backlogs, so it’s important to get on their radar early,” notes Sargsyan.

Staying put appeals

For those who are redoing their homes, the top reason is the desire to stay in their home rather than move (63%). Many also stay because they love their neighborhood (34%), which was followed by a desire to personalize certain features at home (32%). Jennifer Kelly Geddes creates content for, the National Sleep Foundation, American Airlines Vacations, Oxo, and Mastercard. (Photos courtesy of Caroline Myers Interior Design / Patrick Prudhomme at Sheffield Furniture & Interiors / RND Technology via Houzz)

Renovations, no matter how small, add value to your life by making you happy with your home, and they add value to your property, as well. If you choose to relocate, Brian Parker offers expert advice on selling in Parker, CO.

Real estate pro Brian Chandler of RE/MAX Alliance Group is a top producer and sales trainer located in the Parker, Colorado, area. Whether you’re buying or selling, team up with Brian today! 720.808.1007 What is it like Living In Parker Colorado? Read more articles like these Top Realtor Info Contact Brian Chandler

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3 thoughts on “Homeowners’ Top Renovation Plans Right Now”

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