Kitchens and bathrooms are the top two priorities for homeowners looking to renovate their homes, according to a new survey. The report also says that, despite the cost-of-living crisis, half of the 2,500 homeowners surveyed said they planned home improvements or renovations in the coming year.
The survey, from Houzz, showed that of all the rooms in the house, the kitchen was a top priority for more than a third of renovators (37%), with bathrooms the next highest at 33%. These rooms also commanded the largest intended median spend with £13,000 for kitchens and £5,250 for bathrooms.
Living rooms were the next most popular renovation (28%), followed by bedrooms (27%).
And the best news for KBB retailers is that the vast majority of homeowners surveyed intended to hire a professional for their renovations – in fact, 93% said they would do so, compared with 88% in 2020.
Electricians, plumbers, carpet and flooring pros and carpenters were among the most common tradesmen cited. Finding the right service provider was cited as the top challenge by 40% of respondents.
Design-related professionals, including kitchen designers, bathroom designers and interior designers, all saw an increase in demand for their services during 2022 (25%, 18% and 7%, respectively, compared with 19%, 13% and 6%, respectively for 2021)
The number of homeowners who said they were looking to improve home efficiency in 2023 rose significantly from 35% last year to 46%. Upgrades mentioned included windows (30% against 26% in 2020), insulation (22% versus 17%) and ventilation systems (11% versus 9%).
The survey also found that more than three-in-five (62%) of those surveyed intended to stay in their homes for 11 years or more following a 2022 renovation. Half of respondents said they had renovated their homes during 2022 and the median spend was £16,250.
Houzz found that the majority of homeowners would be relying on savings to fund home renovations (80%) but that number was down six percentage points on 2022.
Only 6% said the reason for renovating was to improve resale value, against 11% in 2022, with most saying they had wanted to do it all along but did not have either the time (38%) or the financial means (37%).
Of those surveyed, almost half (49%) said they lived in a detached house, with 53% citing a value of over £500,000.
Commenting on the report, Liza Hausman, vice-president of industry marketing at Houzz, said: “Homeowners are committed to their current homes and we continue to see investments that help spaces to function better for the long term. We’re also seeing an increased focus on efficiency, with homeowners making upgrades that will help to conserve energy and keep associated costs down.”