If you've ever renovated your home, you know that there's a lot of shopping involved. And in recent years, median spending on projects has risen. According to Houzz's newly released 2024 U.S. Houzz & Home Study, that amount has increased sharply over the past three years, and between 2020 ($15,000) and his 2023 ($24,000) he will earn 60. % increased. Additionally, more than half of homeowners who renovate spent more than $25,000 on renovations, an increase of 37% from 2020.
The survey found that kitchens and bathrooms are the most popular rooms for renovation. But what exactly are people buying for these renovations? According to Houzz, the most popular purchase is paint. The survey found that 64% of homeowners purchased paint for their projects in 2023. This is actually 4 points less than in 2022. Lighting fixtures came in second (52%), faucets and showerheads came in third (49%), and lawns and showerheads came in second (52%). Gardening supplies came in fourth place (43%) and building materials came in fifth place (43%).
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Interestingly, purchases of major kitchen appliances fell by 4 percentage points in 2023, while purchases of solar panels remained stable at 3%. When it comes to smart home devices, the study found that while smart lighting decreased from 17% in 2022 to 13% in 2023, the percentage of homeowners who installed smart thermostats will increase by 4 percentage points in 2023. Did. And there's a huge interest in smart. Outdoor security cameras that can be controlled by phone – installed by his 25% of homeowners.
Once the renovation is complete, it's time to start decorating. We also looked at buying decorative items on Houzz. It was found that homeowners purchased decorative items less frequently in 2023 than in 2022, as well as home improvement purchases. According to Houzz, home décor items saw the biggest share declines, including small furniture (39%, down 14 percentage points), large furniture (37%, down 13 percentage points), and storage and organization solutions (33%, down 12 percentage points). point decrease). . My top home decor purchases for 2023 were rugs, followed by pillows and throws, and artwork.
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Outdoor decorations also declined, with large furniture and fireplace fixtures down 7 and 6 points, respectively. However, outdoor lighting held steady, and purchases of outdoor rugs and art also increased by 1 and 3 points, respectively.
To compile these statistics, Houzz surveyed 33,830 registered Houzz users (ages 18 and older and homeowners) from January 19 to February 27, 2024 about home and renovation design trends. I investigated. The full report can be viewed here.