Home renovation – it’s something that everyone thinks about at one time or another. Whether it’s finally installing that new roof you’ve been putting off or painting your dining room with the chartreuse stripe motif you saw on Pinterest. But many home renovations stay in the realm of dreams and fantasies, and we want to know why.
In this article, we’re setting out to answer those age old questions – how satisfied are people, on average, with their homes? And why do so many renovation projects never get off the ground and just remain a far-off, unattainable dream?
We surveyed 2,000 homeowners to finally answer these questions once and for all. Keep reading for an in-depth look into our results.
Areas of the home homeowners are most unsatisfied with
Our survey showed that while many homeowners are pleased with the overall feel of their homes, 36% are unsatisfied with certain aspects. Specifically, homeowners said the areas of their homes that need the most work include the bedrooms (34%), bathrooms (31%) and living rooms (26%).
For many homeowners, the bedroom (37%) and bathroom (33%) were already some of the rooms they tackled in early renovations, but don’t align with their current design goals.
Lesser-thought-about parts of the home that tend to be left behind as afterthoughts are the dining room (22%), roof (12%) and garage (6%).
Many home renovations are never completed
The average homeowner who has made renovations to their home has begun four renovations that they never finished.
In fact, 31% have an ongoing home improvement project that they’ve been working on for an average of 52 days so far. And more than a fifth of homeowners haven’t made any renovations to their home (22%), despite the average respondent owning their home for six years.
Why has it taken so long? Time and comfort may be key factors, as a quarter of those who have renovated before said it’s taken about six months to complete the project (27%).
Factors that hold homeowners back
Our survey found that while they want more for their homes, two-thirds of homeowners feel stressed when thinking about doing home renovations on their own (67%).
Another factor that holds many homeowners back is cost. The average homeowner has put $4,461.64 into renovations since owning their home. This is a large chunk of change, which can seem daunting to many homeowners who already have other expenses that they have to account for.
Fear of messing up also contributes to putting off renovations, as homeowners named their biggest home improvement fails:
- Trying to paint or wallpaper the walls on their own (32%)
- Put down new floors or carpet by themselves (29%)
- Attempting to install new roofing without professional help (22%)
What the future holds for home renovation
The new year looks bright for the 29% of homeowners who plan to do some kind of renovation in 2024,and they’ve even put aside $3,762.79 to complete these projects.
Top home improvement projects for 2024
- Redoing the walls (62%)
- Installing new windows (42%)
- Moldings and trims (35%)
- New electrical or plumbing (34%)
- New roof (33%)
- Demolishing parts of the home (19%)
While home renovations can cause some stress, turning your home into the home of your dreams is definitely a goal worth achieving. Armed with the right information and a solid game plan, you can stop putting off that big home renovation project, and finally make it happen.
Contact Mr. Roof for your home renovation needs
Since 1962, we’ve helped over 400,000 satisfied customers create the homes of their dreams through quality exteriors, exceptional service and lasting peace of mind. Our installers have the knowledge and experience to handle a variety of exterior renovation projects, including roof replacements, siding, gutter and window installations and even masonry work. If you’re ready to get started on your 2024 home renovation projects, contact us today to schedule your free estimate and start building the home of your dreams.
Survey methodology:
This random double-opt-in survey of 2,000 homeowners was commissioned by Mr. Roof between Nov. 20 and Nov. 21, 2023. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).
