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Most Common Home Improvements in Pandemic

August 3, 2020

The pandemic has prompted many homeowners to take on updates and renovations projects. More than three-quarters of about 1,000 homeowners surveyed this month say they have carried out at least one home improvement project since the start of the COVID-19 outbreak, according to a new survey from Porch.com, a home remodeling website.

Homeowners have spent a median of $17,140 on improving their homes since the pandemic began, with an average of five improvement projects per household. To fund these household projects, 38% dipped into savings, 23% used credit cards, and 13% used their government stimulus checks.

Pandemic Push

Did COVID force some people to make any mandatory upgrades? Some did. Almost a third (31%) noted they were forced to make changes due to the new way of life under COVID. Some 11% said they made changes to allow for working from home, while 7% made changes to help with homeschooling.

Since the start of the pandemic and looking ahead to the next 12 months, homeowners have either already added or are planning to add:

  • 33% – high-speed internet connection

  • 18% – an outdoor pool

  • 17% – a home office

  • 16% – a home gym

A Greater Outdoors

Outdoor projects have been among the most popular. Sixty-one percent of homeowners reported doing upgrades to their garden, patio, or renovating the structure of the house, the survey shows. Fifty-eight percent also made improvements inside, such as repainting walls, adding new flooring, or renovating a bathroom.

Homeowners don’t appear to be done yet, either. Seventy-eight percent of homeowners say they plan to take on at least one more home improvement project over the next 12 months. Forty-four percent say they want to do more tech improvements in their home, such as installing security cameras, smart lights, or smart doorbells.

Thirty-four percent want to add more environmentally friendly upgrades too, such as adding solar panels, starting a compost heap, or installing solar-powered water heating systems.

The most cited reasons for why home improvement is trending—“finally having the time,” the survey showed (25%). But adding value to a home (21%) and making a home feel more comfortable and cozy (21%) also were motivating factors.

Source: Porch and  NAR

 

Filed Under: CVAR Connect, Pro Tips Tagged With: COVID, cvarconnect, Home Improvement, NAR, Pandemic, Porch, remodel, upgrade

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