Plan to Spend $26,000 on a Kitchen Remodel, and Other Insights from the 2014 Houzz & Home Survey

  • Categories:

    Industry Trends, Marketing Insights

  • Date:

    June 17, 2014

Plan to Spend $26,000 on a Kitchen Remodel, and Other Insights from the 2014 Houzz & Home Survey



Industry Trends, Marketing Insights

There are so many studies and surveys floating around the Internet regarding remodeling and housing trends that it can be hard to sift through it all. Luckily for you, part of my job is to do the heavy data lifting.

Houzz recently released the results of its third annual Houzz & Home survey. The survey collected data from more than 200,000 registered Houzz users globally, with 135,000 of the respondents hailing from the U.S. The largest-ever response yielded detailed data, allowing Houzz to make connections between the housing market and building/remodeling trends, as well as define preferences among age groups and other demographics.

I highly recommend downloading the survey and sitting down with a cup of coffee to review the results as it will inevitably yield relevant insights for your brand. If you are shorter on time, here are some insights we gleaned from the study:

  • Remodeling in Place - Remodeling has been the driving force behind the housing recovery and is projected to continue boosting the recovery, even as new residential building and commercial building starts to strengthen. Homeowners remodel for multiple reasons; while boomers are more likely to remodel to make their current homes perfect for retirement, Millenials are more likely to remodel with home value in mind, since they are also more likely to want/need to move in the future. All age groups are staying in place longer and are motivated to improve the function and aesthetics of their current home. Kitchens remodels still reign supreme, with homeowners spending an average of $26,172.
  • Improving Aesthetics is the Primary Driver of Remodels – According to the survey, 78% of respondents said the primary motivation behind remodeling is to improve the look and feel of the space, followed by function and increasing home value. Because aesthetics are so important, don’t underestimate the power of beautiful photography to help sell your products. Your website and social media sites like Houzz and Pinterest offer the best opportunities to showcase your products in both glamour shots and real designs.
  • Homeowners Are Looking for Products, But Need Your Help to Find Them – Finding the right products is the number one challenge for homeowners attempting a renovation. Again, this is another great place for home product marketers to step in and guide remodelers to their products. Upgrading your website for search and using social media tools to drive traffic back to dealer or store locators can make the difference between a consumer buying your product or passing it by in favor of the first competing product to come up in a web search.

Have you seen the 2014 Houzz & Home Survey? Share your thoughts in the comments below.