Consumer Reports Survey: Over Half of Homeowners Plan Remodel Projects
Homeowners planning remodeling but will do some of it themselves
YONKERS, N.Y -- June 29, 2009 -- Consumer Reports latest poll on home remodeling reveals that over the next 12 months, 54 percent of homeowners are planning a remodeling project and nearly two-thirds (65%) plan to do at least some of the work themselves. The most popular types of work include painting (56%), designing (39%) and flooring (34%).
The recent economic downturn has forced 67 percent of homeowners to rethink their plans, with the biggest changes including doing work themselves (42%), fixing or sprucing up what they already have (39%) and remodeling in phases (36%). The biggest reason consumers are cutting back on remodeling is because they simply do not have the money (42%).
Funding for home remodeling stems from a variety of places, but two out of three (66%) homeowners support their projects with their savings. Others plan to cut back on travel and entertainment (29%), while one out of five (21%) are using a home equity or other loan.
Ninety-one percent of homeowners have already gotten their hands dirty with either a repair or remodeling project. But not all repairs or remodeling projects went smoothly for DIY respondents, with over one third (34%) having at least one regret stemming from trying to fix a broken appliance, installing tile, floors or cabinets.
According to the poll, the most popular remodeling projects for homeowners are kitchens (19%) and bathrooms (17%).
