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2012 Home Renovations By the Numbers

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Home renovation stats

With the housing market still looking for a surge, more and more homeowners are deciding to stay put and upgrade the houses they've got -- instead of buying something new.  If you're one of them, you'll be interested to see exactly how the home renovation numbers play out:

5.7 -- The percentage that home improvement spending is expected to go up in 2012, when compared to 2006.  Back then, the real estate market was a buying-frenzy.  People were upgrading to bigger and better houses, instead of renovating the ones they already owned.

81 -- The percentage of homeowners who see a return on their investment on a kitchen remodeling project.

20 -- The number of years the average kitchen has sat unchanged.  Not only is décor outdated, but the materials in these kitchens are also less durable.  For example, the appliances aren't as energy efficient as their newer counterparts -- meaning that homeowners are spending more on their utility bills than they need to be.

72 -- The percentage of money you'll get back when you sell a home that has gone through even a minor kitchen renovation.

2 -- The number of choices homeowners had for hardware finishes in their bathrooms up until a few years ago.  Even back in the 1990's, everything either came in polished chrome or brass.  Today, homeowners have a near-endless array of choices -- from brushed nickel, to chrome, to bronze, to pewter.

5 -- The number of feet that the average bathtub takes up.  If you want to create a more luxurious look, you're going to need something bigger.  If you're looking to conserve floor space, opt for a garden tub.  These tubs aren't a whole lot bigger than their traditional counterparts, but they provide more room for you to stretch out inside.

2,000 -- The number of dollars you can add to your selling price, on average, simply by cleaning and de-cluttering before you put your house on the market.

72 -- The percentage of Americans who plan on doing their home renovations themselves this year, instead of hiring a professional.  Thanks to smaller budgets and popular DIY shows on TV, more Americans are picking up hammers and paint brushes than ever before!

42 -- The percentage of DIYers who credit TV shows as the inspiration for their home improvement projects.

3,500 -- The average number of dollars that homeowners plan to spend on home renovations this year.

50,000 -- The number of dollars you'll probably need to spend if you want to convert your attic into a "suite" (meaning it has a bedroom and a full bathroom).

600 billion -- The number of dollars home improvement stores made in 2012.

94 -- The percentage of staged homes that sell in less than 30 days, according to a study by StagedHomes.com.  That study also showed that homes that aren't staged take, on average, 145 days to sell.

40 -- The percentage of landfill space that is dedicated to construction materials.  If you want to help make this number go down, opt for green construction that generates less waste.

0 -- The amount of insulation that some older homes have.  Each month, the people who own these homes are paying way more in utility bills than they need to.
 


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