Has the thought of remodeling been on your mind lately? Well, you aren’t the only one. A recent survey by LightStream.com, a division of SunTrust Bank, shows that over half of homeowners are planning to spend money this year on home improvement projects including bathroom and kitchen remodels. This study was cited in a recent article in Kitchen & Bath Design magazine with some interesting insights.
More than half of all homeowners surveyed reported that they were planning on some type of home improvement project. Forty-two percent aim to spend $5,000 or more. And twenty-three percent plan on spending $10,000 or more. Many of these are using savings to pay for the remodels and updates, but other financing methods mentioned are home-equity lines of credit, credit cards, home improvement loans, and tapping into investments.
Here are some trends from those homeowners who are planning on some type of remodeling project are following this year:
Outdoor Living Areas
Outdoor living remodeling continues to lead as the number-one home improvement project anticipated. Investments include outdoor kitchens, decks, patios, or landscape renovations.
In The Kitchen
Kitchen updates are being planned on by almost a quarter of the survey participants. What types of upgrades/updates are trending?
In The Bathroom
Large walk-in showers seem to be the most popular remodel that is going on in bathrooms. Tubs are becoming obsolete and showers make the bathroom look more sleek and modern.
Home repairs and tech upgrades are also high on the list, including energy-focused improvements and smart home devices.
G.M.S. Werks has talented consultants on staff to help you bring about real-life transformations in your kitchen, bathroom, outdoor living areas, or anywhere else you’d like to have natural stone featured. For more information, contact us today.