So what’s hot in the world of building and decorating? The home decorating website www.houzz.com recently asked its users the same question. The website recently published the findings of its Houzz and Home study, which analyzed responses from more than 400,000 users to find out what was popular in building in decorating trends in 2014. Here are some of the findings.
• The Houzz and Home study found that most renovations were upgrades to the main home structure (69 percent) with a close second of being upgrading outdoor space (62 percent).
• Millennials are moving out. The study said 33 percent of responders between the ages of 18 to 34 bought a home in 2014.
• The survey found that the main reasons for renovating were to improve the look and feel of the design, improve functionality, increase resale value, improve energy costs, and minimize costs. Addressing health concerns, integrating sustainable materials, and integrating smart technology followed.
• The survey found that top challenges in the building and remodeling process included finding the right service providers, finding the right products, and funding the project.
• The most frequently renovated rooms were kitchens and bathrooms. Costs for kitchen renovations ranged from $11,700 (small kitchen, minor updates) to $48,000 (large kitchen, major updates). Major updates were defined as replacing all kitchen cabinetry and appliances.
• With the increase in homebuilding and renovations comes an increase in costs. The survey found that the average cost of a custom home in 2014 was $639,800.
• Staying on budget was ranked as the top challenge in home building. We have seen this locally in our projects as well. A home that cost under $200 a square-foot in 2010 would cost closer to $300 a square-foot today.