How much are people spending to remodel their bathrooms? Are millennials just as likely as baby boomers to make updates to their homes? What’s the most popular reno in Dallas? All of these burning questions and more have been answered in the 2015 Houzz & Home report.
The largest survey of residential remodeling, building and decorating activity published, this report looks at a range of renovation projects for 2014 — from interior upgrades to home systems to outdoor projects — as well as planned activities for 2015. More than 260,000 registered Houzz users responded.
Among the key findings: More than half of homeowners executed a renovation in 2014, and millenials are just as likely to take on the task as other age groups, largely driven by the desire to make a newly purchased house their own.
In Dallas, the results mirror national trends. Homeowners ages 25 to 34 are actively improving their living spaces (62 percent), and the kitchen is the most popular interior remodeling project (29.9 percent), followed closely by a non-master bath redo (26.2 percent). The third most remodeled area is the living or family room (25.4 percent).
What are they spending on these projects? For small kitchens (200 square feet or less), the range is $5,700 to $16,600. Larger kitchens require anywhere from $13,000 to $30,000. The non-master baths run $2,500-$4,900 for 100 square feet or less and $3,000-$7,300 for anything bigger. Ninety percent of homeowners paid cash for the improvements.
The answer to why now is simple: 43 percent of Dallasites report that they always wanted to do the work but only just now had the money. And the biggest challenges they faced were finding the right service providers (40 percent) and staying on budget (34 percent).
The report also shows that Dallas homeowners ages 60 and up plan to stay put (55 percent), so they renovate their abodes accordingly.