HomeAdvisor Reports Homeowner Investment Is on the Rise this Summer

Share Article

Trends indicate more homeowners are spending money to increase home value, with bath and kitchen remodels and exterior repair topping the list.

News Image
This data is encouraging, as it shows an increase in the higher consideration and higher return projects, such as bath and kitchen remodels.

Summer home improvement numbers strongly demonstrate more homeowners are completing projects that add value to their home this year compared to last year. Data* from HomeAdvisor, a leading online source for connecting homeowners to pre-screened home service professionals, reveals requests for kitchen remodels have increased 20 percent, bathroom remodels have increased six percent and window installations have increased three percent year over year. This data is supported by a nationwide online survey, conducted among 1,300 U.S. homeowners by Harris Interactive on behalf of HomeAdvisor in March 2013**. The survey indicated that a majority of homeowners (69 percent) are at least somewhat likely to put money into their property to increase its value by doing home improvement projects now compared to 12 months ago.

“Homeowners have been cautious the past couple years and have tended to focus their home improvement dollars on maintenance and repair projects,” Chris Terrill, HomeAdvisor’s CEO said. “This data is encouraging, as it shows an increase in the higher consideration and higher return projects, such as bath and kitchen remodels.”

Here are some of the latest aggregated data revealing value-added project details and cost information:

  •     Bathroom remodels can include updating the cabinets, sinks, fixtures, replacing the bathtub and shower, and retiling the floor. The average national cost of a bathroom remodel is $9,812 according to HomeAdvisor’s Cost Guide.
  •     Kitchen remodels can include, replacing or resurfacing the cabinets and hardware, installing new appliances, updating the countertops and flooring, or building an addition. According to HomeAdvisor’s Cost Guide, the average national cost of a kitchen remodel is $21,324.
  •     Installing new windows depends on the number of windows, the size and materials used. According to HomeAdvisor’s Cost Guide, the national average cost of installing new windows is $5,258.

Cost Guide helps homeowners budget for their projects by providing average local and national costs for over 850 home repair, maintenance and improvement projects. Costs are determined using over 785,000 cost profiles provided by homeowners who have completed a home project.

For more information on HomeAdvisor and its services, visit http://www.HomeAdvisor.com. Home improvement tips are available by following @HomeAdvisor on Twitter and by subscribing to the YouTube channel.

About HomeAdvisor:

HomeAdvisor is a leading website and mobile app provider offering resources for home repair and improvement projects. HomeAdvisor’s patented ProFinder technology matches homeowner projects to the nation’s largest network of over 85,000 pre-screened, customer-reviewed home improvement professionals. Homeowners can make informed home project decisions using resources including: Pro Reviews, featuring reviews from homeowners who have actually been connected with the service professionals they review; Cost Guide, providing average costs for projects coast-to-coast; Home911, offering dedicated 24/7 emergency home repair support; DesignMine, providing inspiration and collaboration for remodeling projects; as well as robust home trips and project planning tools. Access to all of the site’s features is free for homeowners, with no membership or fees required. HomeAdvisor is based in Golden, CO, and is a subsidiary of IAC.

Contact: Brooke Gabbert
Senior Director, Corporate Communications
bgabbert(at)homeadvisor(dot)com
Direct: 303.963.8173

*Based on the number of service requests submitted on the HomeAdvisor website from May 1- Aug. 1, 2012 and May 1 – Aug. 1, 2013.

**Survey Methodology

This survey was conducted online within the United States by Harris Interactive on behalf of HomeAdvisor from March 19-21, 2013 among 2,076 adults ages 18 and older, of whom 1,348 were identified as homeowners. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact The Abbi Agency at info(at)theabbiagency(dot)com.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Brooke Gabbert
HomeAdvisor
+1 (303) 963-8173
Email >
@HomeAdvisor
since: 08/2008
Follow >
HomeAdvisor
since: 03/2009
Like >
HomeAdvisor

Visit website