Tuesday, April 24, 2018

Research Reveals Women Are Taking Charge of Home Renovation Projects in 2018

QuestionPro Audience, a division of SurveyAnalytics and QuestionPro that specializes in research and data collection, has released its latest research study: “2018 Home Renovation Report: Homeowner Trends, Spending and Priority Projects”, a look into homeowner renovation plans.

The 2018 Home Renovation Trend Report reveals that spending is on the rise, and women are taking the lead when it comes to conducting household renovations. 55% of homeowners plan to do at least one home improvement project over the next twelve months, up from the 38% who have conducted previous projects. Women, in particular, are looking to perform home improvements in the next twelve months, with 51% planning to spend between $1,000 and $5,000. What’s more, our study found that 54% of women are paying with cash, compared to 40% of men.

"Judging by our data, 2018 will be a profitable year for building supply stores (like Lowe’s and Home Depot) and general contractors," said Rudly Raphael, President of QuestionPro Audience. "Our report shows that consumers are eager to complete projects they may have put off when the economy wasn’t as strong. They are optimistic about the year ahead, and are looking to spend money to increase the value of their homes.” 

QuestionPro Audience’s latest study takes a look at homeowner spending behavior and renovation trends. The infographic provides an in-depth look into homeowners who plan to do an improvement project during the next twelve months, how much they’ll be spending, and if they plan to hire a contractor or DIY, among other insights.