In the fluctuating real estate market, clients often wonder whether to renovate and which projects should take priority. They are also curious about which upgrades provide the best return on investment (ROI).
A recent Fixr report, *Home Remodeling Statistics and Trends of 2023*, provides valuable insights into remodeling trends, homeowners’ spending habits, and interior design preferences.
You can share the following data, statistics, and insights with your clients to help them make informed decisions. This information can also be included in your newsletters and marketing materials.
Here are some key findings from Fixr:
- Spending on home improvements and repairs grew by 78% from 2014 to 2022, with a $65 billion increase between 2021 and 2022 — the highest in the past decade.
- The median annual spending per household on home improvements is $22,000, which is 69% higher than the 2019 median spending of $13,000.
- Homeowners invest the most in HVAC ($56.6 billion) and roofing ($72 billion) projects.
For clients focused on maximizing their ROI, here is a chart highlighting the top 11 projects with the highest ROI in 2023:
Fixr also provides insights into popular design trends, such as the rise of wallpaper, mixing materials and textures, and combining neutrals with vibrant colors.
Additional resources to stay informed include:
- 2023 U.S. Houzz Bathroom Trends Study
- 2023 U.S. Houzz Kitchen Trends Study
- 9 Must-Know Kitchen Design Trends for 2024
- Individual actions you can take to address climate change
- These 5 big purchases can save energy — and money — at home.
Remember that I am a Seniors Real Estate Specialist® (SRES®) and am uniquely qualified to help you take the next step.
As someone over the age of 50, your needs aren't the same as a first-time homebuyer or seller. You might be looking to retire, downsize, or join an active adult community. Whatever reason you may have for considering a move, you can depend on an SRES® to guide you through every part of the process.
Why work with an SRES®?
SRES® designees have unparalleled training and experience in seniors' real estate, including:
Helping you manage the financial and emotional challenges of selling a long-held family home
Creating a customized plan to market and sell your property
Understanding your unique needs and creating a customized plan to ensure your home meets those needs now and, in the future,
Utilizing specialized knowledge in reverse mortgages, 401(k) accounts, and IRAs for your real estate transaction
Connecting you with their vast network of movers, attorneys, home inspectors, and other experts to help you through the process.
Give me a call for your FREE Comparative Market Analysis 608-572 1736