When homeowners put Kukun’s renovation cost estimate and return on investment calculation tools to work, they find answers to the questions “How much will this cost?” and “How will this project alter the value of my home?” They also create a lot of data, which we use to determine industry trends and create the Home Renovation Pulse Report.
This installment of the Home Renovation Pulse report yielded many interesting insights, including:
- Remodeling projects (which don’t involve increasing the overall square footage of a home) still greatly outpaced addition projects (which increase a home’s square footage). This is in keeping with previous findings, with 88 percent of estimates being remodels and 12 percent being additions. However, there was an 8 percent increase in spending on addition projects.
- Bedroom remodel and bathrooms were the most popular among Kukun users, and made up about half of the total number of addition projects estimated.
- When it comes to splurge vs. scrimp, homeowners creating both addition and remodel projects split the difference – of the three finish levels available for each component of their project plan (Good, Better, and Best), Better remained the most popular in both project categories.
- When it comes to geography, California led the way with the greatest number of estimates created. Texas, New York, and Florida followed, and those four states combined accounted for about 45 percent of the total number of estimates created.
For more insights from our Home Renovation Pulse Report (and pretty cool infographics), follow us on Twitter: @mykukun.