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Friday, December 9, 2022

Average Homeowner Is Willing To Shell Out $42K To Upgrade Their Home

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By Josh Brady

The average homeowner is willing to shell out $42,000 to give their home a facelift, according to new research. 

A survey of 2,000 homeowners looked at how they make their home feel new again and found that most homeowners want to update their home’s appearance (69%), with 63% agreeing their home could use an overhaul. The survey found that six in 10 homeowners have a specific vision of how they want their home to look, feel and function (62%), and most of those respondents are motivated to make changes to their home to achieve that vision (77%). 

FILE – April 11, 2020, Celebrity Home Renovators Mitch & Mark Reveal Newly Decorated Rooms at their Newport home on in Sydney, Australia. They film a segment of their home renovation show from their newly decorated bedroom as they provide renovation tips to their social media fan base. DON ARNOLD VIA GETTY IMAGES  

Conducted by OnePoll in conjunction with Andersen Windows & Doors, the survey found that when renovating, homeowners (27%) are looking to create a more contemporary space, characterized by sleek surfaces, clean lines, an open floor plan with an abundance of natural light. The same percentage of respondents are seeking a farmhouse-style home, opting for a simple design with rustic charm. And nearly a fifth of respondents shared that a ranch house is their ideal home style (19%), featuring a single story and patio. 

For many, a home update would include creating more open space (31%), finding ways to let more natural sunlight in (30%) or changing the shape/size of their windows (29%). Homeowners prioritize easy aesthetic updates first. Upon moving in, some of the first home projects people tackled included the paint or wallpaper (36%), flooring (33%) or lighting fixtures (29%) citing that what was there when they purchased the home was old or unattractive, or because they didn’t like the way it looked (41% each). 

A third of respondents said they made changes to their home to improve function and energy efficiency (34% each). Still, half of homeowners said there are changes they’ve wanted to make to their home since moving in that they have yet to tackle (51%). When considering how they want to renovate their homes, respondents are prioritizing energy efficiency (43%) and better space utilization (38%). 

“A thoughtfully designed home is one that is functional for you and your lifestyle, whether you’re the host/hostess, the first-time parents, the chef in-training or the alfresco enthusiast,” said Kristy Howe, vice president of marketing at Andersen Corporation. “Tackling home improvement projects that increase functionality – such as changing your interior layout for better flow, adding more windows to boost natural light or swapping out old carpet for hardwood – can change the overall look and feel of your home, making it feel refreshed and new.”

As they look to the future, respondents would love to update their homes with bonus features like a porch, patio or deck (24%), sliding glass doors that open to the outdoors (22%) or a garden (22%), but for now, they may stick to the most DIY-friendly task: adding a new coat of paint or wallpaper (47%), with 38% agreeing that that small change can help transform a home. Others think more significant upgrades like changing the interior layout (32%) or installing new windows (26%) are what will help make a home feel new. 

When it comes to these kinds of updates like installing new windows (67%), cabinetry (59%) or changing the interior layout of their home (58%), respondents are more likely to call in an expert. This may be because many see windows as one of the keys to a well-designed and inviting home, and most agree that homes that don’t have enough natural light feel less welcoming (58%). More than a third of respondents even said they’d be happier (38%) and more productive (33%) if they had more natural light at home. 

“The impact daylight has on a home goes beyond design style – it makes a space feel brighter, more comfortable and airy and generally more inspiring,” said Howe. “Increasing our home’s connection to the outdoors through improved natural light also has positive health benefits. Access to natural sunlight has been shown to boost mood and energy and promote quality sleep.” 
 

Produced in association with SWNS P72.

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The post Average Homeowner Is Willing To Shell Out $42K To Upgrade Their Home appeared first on Zenger News.

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