According to a Houzz & Home Survey conducted among users of the Houzz app and website, 38 percent of Chicago area homeowners plan to remodel or construct an addition and 5 percent plan to build a custom home in the next two years. Eighty-six percent of homeowners in the Chicago metro area who are planning to build, remodel or decorate in the next two years cited "improving the look and feel of their space" as their main motivation. Forty-nine percent cited "increasing home value" as their reason. The gap between these priorities was consistent across all income levels and demographic groups.
“We expected that in this economy Americans’ highest priority would be increasing home value, but instead we found people are focused on pleasing themselves, not the next owner,” says Liza Hausman, vice president of marketing for Houzz. “Homes today are doing double or even triple duty as workplace, stay-cation, gym and more.”
About 45 percent of homeowners with incomes more than $150,000 are combining do-it-yourself efforts with hiring an architect, engineer, interior designer, contractor or remodeling professional. Forty-nine percent of those surveyed in lower income brackets are taking the same combination approach.
Other survey findings include:
- Six in 10 Chicago Houzz homeowners hired a general contractor in the past five years, 55 percent hired a carpet or flooring professional, 28 percent hired a kitchen and bath professional, 28 percent hired a landscape professional and 27 percent hired window coverings expert.
- Large projects in terms of average dollar amount in the past five years include: custom home builds ($849,231), complete home remodels ($222,250) and pool additions or replacements ($28,750)
- Chicago homeowners on Houzz spent an average of $30,445 for a kitchen remodel and $12,038 for a bathroom remodel.