In a recent online survey of 5,000 participants, it looks as though homeowners are willing to spend upwards of 30% of their home’s value to renovate or remodel a part of their home. This figure is higher than recorded percentages of 2007 and 2010 for home remodeling costs, which will be a positive impact on the entire home improvement industry.
The survey was comprised of approximately 70 questions to determine whether the participants would prefer remodeling versus moving from their home. To some degree, all of the participants were interested in some sort of change to their existing home.
Consumers are planning to use more expensive materials, which is projected to scale an average budget of $102,000 on their improvements. Approximately 74% of the respondents plan to hire a general contractor for the work, and more than half of the respondents plan to hire an architect, rather than tackling the remodel or renovations themselves.
Some of the planned projects for these homeowners are larger in scale and include multiple rooms. Right above the halfway mark is the percentage of homeowners who are likely to remodel a kitchen.
Our professionals at National Lumber and Kitchen Views at National Lumber are here to serve you through every phase of remodeling projects. We can supply you with the building supplies you need and the services you deserve. Additionally, our kitchen division has the expertise to work with homeowners on design and selection of materials. Contractors are then provided with detailed plans and materials. One of our designers will follow the project from concept to completion. Kitchen Views at National Lumber, where the designers are pros and the views are yours!