2016 U.S. Houzz & Home Study: Annual Renovation Trends

Spending is on the rise for kitchen and bathroom renovations.

The desire to stay put is the primary motivation to renovate vs. buy a “perfect” home, trumping financial considerations.

Recent home buyers are a key driver of renovation activity, with more than a quarter of renovations being driven by recent home purchases.

Those planning to sell their home are also investing in renovations,focusing on exterior projects that enhance curb appeal.

Nearly one-third of homeowners take on a remodeling project without setting a budget—the same share exceeds an established budget.

Millennial homeowners continue to be just as likely to renovate as other age groups, yet spend a third of the amount spent by Baby Boomers.

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