Realtor.com survey sees surge in renovations
San Jose, California-based Realtor.com reports that 67% of visitors to the real estate web site plan home renovations within the next six months.
That finding is the result of the web site's Home Improvement Survey, in which more than 1,500 consumers participated from May 19 to May 29.
The survey results, released July 17, include the following.
Most popular reasons for planned home improvements:
•32%, to improve the aesthetics or enjoyment of the home;
22%, in preparation for putting house on the market;
19%, recently purchased a home needing renovations; and
11%, to improve the value of the home.
Most popular areas of the home to improve (more than one response was allowed):
33%, backyard; and
32%, exterior of the home.
Range of home improvement budgets for the next six months:
20%, $2,001 to $5,000;
19%, $5,001 to $10,000;
18%, $10,001 to $20,000; and
14%, $20,001 to $50,000.
Realtor.com is owned by Move Inc., a provider of online real estate services.