Homeowners Value the Looks of their home More Than a Vacation – Hillsborough CA
Does your home look the way you want it to? Are you interested in making changes? If you answered yes to the second question, you are not alone as more and more Hillsborough homeowners are doing just that!
In a recent survey of 29,127 respondents sponsored by Houzz.com, a premier home design and remodeling resource, shows that aesthetics is ever increasing on the scale of importance to people who own homes.
In fact, 86% of homeowners slated to conduct remodels felt that “improving the look and feel of the space” was of prime importance. Only 47% were motivated by the idea of ”increasing home value.” The report also showed that homeowners are choosing to improve their homes and sacrificing other items like vacations to do so.
These survey results were a little surprising to Houzz, in light of current national economical statistics. “We expected that in this economy Americans’ highest priority would be increasing home value, but instead we found people are focused on pleasing themselves, not the next owner,” said Liza Hausman, Vice President of Marketing for Houzz. “Homes today are doing double or even triple duty as workplace, stay-cation, gym and more.”
Another interesting trend seen in the survey was that homeowners are not resorting to loans to do these improvements. 70% of those surveyed were interested in paying cash, doing improvements themselves, or realigning their budgets to make the changes happen in their homes. According to the survey, only 45% of homeowners with income levels of $150,000+ are choosing professionals to complete their home projects and the rest are seeking to combine professional help with DIY efforts. In comparison homeowners in lower income brackets reported that 49% would use a combined approach.
Of course, kitchens and bathrooms continue to rank as most popular in remodeling, about 48% of those surveyed planned a , and 45% a kitchen overhaul. It is interesting to note that Midwesterners’ budgets for kitchen and bath remodels were the most expensive, at $30,500 and $13,600 respectively, while homeowners in the South planned on spending less, about $23,800 and $11,600. Here in the west, we’re 43% likely to do the remodel. Is Hillsborough even higher than that?
- The Houzz survey provided insight into what you, as a homeowner, care about in today’s real estate market.
- Do you agree with the statistics?
- Will you, like 72% of those surveyed decorate or redecorate or remodel as 40% stated, before 2014?
- Maybe you fall into another category (10%) surveyed and plan to build a custom home instead?
- Do you feel these statistics representative of our area?
As a Realtor in the field every day my only concern in remodels that are too out of the norm and too customized for the owner. We see owners do this when they think they’ll be in the home forever and some unforeseen thing happens and the have to list their home for sale. The customization can often delay the sale or bring the sale price down. So I do caution you to do what you want but the an eye toward selling at some time. Colors can be changed but many other things can not without much expense.
Click here to access these survey results and let us know your thoughts.
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(all data current as of
790 El Cerrito Av, Hillsborough6 beds, 6 full, 1 part baths
425 Barbara Wy, Hillsborough4 beds, 3 full, 1 part baths
210 Robin Rd, Hillsborough3 beds, 3 full baths
2540 Skyfarm Dr, Hillsborough4 beds, 2 full, 1 part baths
325 Hillsborough Bl, Hillsborough6 beds, 4 full, 1 part baths
1850 Brookvale Rd, Hillsborough4 beds, 4 full, 1 part baths
2255 Skyfarm Dr, Hillsborough5 beds, 6 full, 2 part baths
3080 Ralston Av, Hillsborough9 beds, 8 full, 3 part baths
18 Farm Ln, Hillsborough4 beds, 3 full, 2 part baths
136 Roblar Av, Hillsborough6 beds, 5 full baths