These Are the 2 Most Popular Rooms to Remodel in 2024
The current housing market is, well, bonkers, and it isn’t likely to change any time soon. With surging interest rates and high home prices plaguing the United States, people are seemingly choosing renovation over buying to make their current living situations feel like forever homes.
According to Houzz’s 2024 Houzz & Home Study, renovation spending increased by 60% from 2020, when the median spending cost was around $15,000, to 2023, when median costs were around $24,000. And more than half of the over 32,000 homeowners surveyed for this study spent more than $25,000 on their home renovations in 2023 alone.
So which spaces were the most popular to renovate this past year? Houzz found that the majority of major renovations took place in kitchens and bathrooms — specifically guest bathrooms, with primary bathrooms following close behind. And Gen Xers spent the most on renovation projects, spending an average of $25,000 on renovation projects in 2023. However, Baby Boomers were also doing a lot of renovating last year, spending an average of $24,000 on projects.
And these aren’t just spur-of-the-moment projects. Houzz found that renovation planning took nearly twice as long as the actual construction process for the majority of homeowners. In fact, those kitchen renovations took about nine months to plan and only five months to build, on average.
Did you renovate in 2023? And if so, was it to help you sit tight during the housing market whirlwind or did you finally tackle those remodeling projects that have been on your list since before the pandemic? Maybe you’re getting ready to sell, or perhaps you bought last year and are doing some finishing touches. There are so many reasons why people renovate, and according to Houzz, tweaking and redesigning your space to make it perfectly you is on-trend.
Check out the full study here to see how your fellow renovators are faring during the era of the remodel.