2017 Houzz & Home Report

First-time home buyers and Millennials are spending more than ever on home renovation projects, according to the sixth annual Houzz & Home survey of more than 100,000 respondents in the U.S. This year is on track to be another boom year for home renovations, with over half of homeowners on Houzz planning to begin or continue renovations in 2017 (52 percent).

Other key findings include:

  • Large Renovation Scopes Continue: Homeowners on Houzz renovate multiple rooms at a time, with recent homebuyers tackling 3.5 rooms on average.
  • Higher Spend for Living Quarters: Average investment in living spaces, such as living or dining rooms increased 11% in 2016 compared to 2015.
  • Increase in Credit Card Use: Use of credit cards to fund renovation projects increased in 2016 compared to 2015 (23% vs. 21%, respectively), and is even higher for first-time buyers (39%).

Download the full report to learn more about top remodeling projects and spend, how renovation behavior differs between new home purchasers and long-term owners, top challenges, project budgets and much more.

© 2017 Houzz Inc.
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