Homeowners see a value after renovations

Kitchens topped the list of interior remodels for renovation frequency in 2017 among homeowners on Houzz India, according to the annual Houzz & Home India survey with more than 3,500 respondents.

One-third of renovating homeowners tackled kitchens (33%), followed by living/family rooms, master bathrooms and master bedrooms (31%, 28% and 27%, respectively).

Overall renovation activity remained steady in 2017, with 36 percent of homeowners renovating their homes, at a median spend of Rs.300,000. Over the past two years, homeowners have become more deliberate in planning and budgeting for renovations and were four percent more likely to set a budget in 2017 than in 2016 (86% and 82%, respectively).

“Home remodeling activity has maintained its momentum, with recent buyers and long-term homeowners making significant investments in major projects like kitchens and bathrooms, if deciding to renovate,” said Nino Sitchinava, Ph.D., Houzz principal economist. “For homeowners, these investments are validated by the value these projects have brought to their homes.”

The annual Houzz & Home survey is the largest survey of residential remodeling, building and decorating activity published.

Houzz is the leading platform for home renovation and design, providing people with everything they need to improve their homes from start to finish – online or from a mobile device. fiinews.com