The Angie’s List Company Connect Newsletter gave some interesting statistics that I think are good to to share. Based on their research, we can expect to see more homeowners making improvements on their homes in 2010. This is good news in a struggling economy! The findings are quoted below:
“Angie’s List members plan improvements
With a majority of homeowners planning to stay in their homes instead of moving in 2010, they’ll look to preserve or increase their home’s worth by spending an average of nearly 5 percent of its value on making improvements. According to a recent nationwide poll of Angie’s List members, 87 percent of respondents have plans for a home improvement project in 2010 and they plan to spend an average of 4.8 percent of their home’s value in doing so.
“This optimism might surprise some given the state of the economy in the past year, but we’re encouraged by it and hope it’s a sign of better things to come in 2010,” said Angie Hicks, founder of Angie’s List, the nation’s leading provider of consumer reviews on local service companies. “Clearly, homeowners plan to take steps this year to invest in their greatest asset; their home.”
Of those with home improvement plans:
63 percent want to update or improve their home
51 percent want to make an aesthetic improvement
47 percent plan to make a repair
34 percent are planning an addition or remodel
33 percent want to purchase new appliances or fixtures
28 percent plan to improve the landscaping and hardscaping – things like decks and patios – of their exterior
24 percent plan to make repairs
7 percent are looking to increase the resale value of their homes
Only 11 percent of all respondents indicated that they have plans to move within the next year”
Very cool information!
Let us know if we can help you increase the value of your home.