The new year means the chance to tackle more home renovation projects. According to new research from Zillow and Realm, 72% of homeowners will consider at least one home improvement project in 2022.
The most popular projects for 2022:
Bathroom: More than half of homeowners surveyed would consider a bathroom renovation next year. Buyers said they would also consider paying a premium for spa-inspired bathroom features, such as “curbless” showers (3.6% price premium), heated floors (3.2%) and free-standing bathtubs (2.6%).
Kitchen: Zillow found that 46% of homeowners would consider a kitchen renovation in 2022.
Among the top five: Landscaping (97.1% of cities), first floor addition (51.4%), deck (34.3%), backyard home (17.1% of cities), exterior and interior painting (both at 17.1%), pool (11.4%).
The takeaway:
“Most homeowners say they plan to stay in their current home for at least the next three years. And while uncertainty, pandemic precautions and affordability concerns keep many homeowners in place, most are willing to consider improving their current home,” said Manny Garcia, a population scientist at Zillow, in a statement. “From adding a backyard cottage to improving a bathroom or renovating the kitchen, most homeowners say they would consider at least one home improvement.”
“Thousands of homeowners across the U.S. use Realm as they plan the projects they’re going to do next based on their budget, local regulations, weather, trends and return on investment,” said Realm’s Founder and CEO Liz Young in a statement. “The most popular projects continue to be interior renovations, such as kitchen and bathroom remodels, but outside of those, we see a lot of variance from city to city.”
