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Homeowners are renovating their homes for the long run, according to the annual Ireland Houzz & Home Study. As the leading home renovation and design platform, including the all-in-one software solution for industry professionals, Houzz found that more than 4 in 5 homeowners state that they plan to stay in their homes for 11 years or more following a 2022 renovation (84%).
More than 2 in 5 of the surveyed homeowners decorated or renovated their homes in 2022 (46% and 41%, respectively). The median spend* for home renovations in 2022 was €20,005, whereas the spend for higher-budget updates (with the top 10% of spend) reached €100,000. Renovation activity continues into 2023, with half of homeowners planning projects this year (49%).
The majority of homeowners continue to rely on savings to fund home renovations (85%). Both cash from a previous home sale or from mortgage refinancing rose slightly year on year (17% and 8%, respectively, compared to 13% and 4%, respectively), while reliance on credit cards dropped by a percentage point (9%, compared with 10% in 2021).
“Homeowners are committed to their current homes and we continue to see investments that help spaces to function better for the long term,” said Liza Hausman, vice president of Industry Marketing at Houzz. “We’re also seeing an increased focus on efficiency, with homeowners making upgrades that will help to conserve energy and keep associated costs down.”
The share of homeowners citing improving energy efficiency as highly important when completing home improvements has risen sharply since 2020 (60%, compared with 49% in 2020). Upgrades to insulation, windows or skylights, and exterior doors have also increased steadily since 2020 (37%, 33% and 28%, compared with 21%, 23% and 20%, respectively). One in 10 renovating homeowners purchased solar power systems (10%), increasing 5 percentage points since 2020 (5%).
Kitchens and Bathrooms Remain a Priority
Interior spaces are the most popular areas to renovate (76%), followed by improvements to outdoor areas and adding extensions (44% and 21%, respectively), and kitchen and bathroom projects remain a priority during renovations (41% and 37%, respectively).
Upgrades to Home Systems
With more than two-fifths of the surveyed homeowners living in homes built in 1980 or earlier (45%), homeowners are focusing on home system improvements. More than a third of renovating homeowners upgraded heating systems in 2022, closely followed by plumbing and electrical (41%, 38% and 28%, respectively).
Professional Demand Continues
Demand among renovating homeowners for professionals continues to grow (96%, compared with 91% in 2020). Among professionals hired, plumbers, electricians, carpenters, and painters were the most common (67%, 63%, 49% and 39%, respectively). Kitchen designers and fitters saw the biggest increase in demand, rising 19 percentage points year on year (33%, compared to 14% in 2021).
Improving the Kerb Appeal
Upgrades to the front of the house have risen significantly since 2020, increasing 10 percentage points (46%, compared to 36% in 2020). Other exterior improvements include insulation, windows or skylights and exterior doors (37%, 33% and 28%, respectively).
The Houzz & Home Survey
The annual Ireland Houzz & Home survey is the largest survey of residential renovation, building and decorating activity published. The survey covers a wide range of renovation projects in 2022, from interior renovations and additions to home systems, exterior upgrades and outdoor projects. Data gathered includes historical and planned spends, professional involvement, motivations and challenges behind building, renovation and decorating projects, as well as planned activities for 2023. The 2023 study includes more than 450 respondents in Ireland alone, providing insights into the home improvement activity of the millions of users of the Houzz site and mobile apps.
The Houzz & Home Survey was sent to registered users of Houzz and fielded from December 2022 to March 2023.
The full report is available here.
Houzz has over 25 million photos of professionally designed interiors and exteriors, including completed kitchen and bathroom projects, and more than 3 million home renovation and design professionals including architects, interior designers, home builders and design and build firms.
About Houzz
Houzz is the leading platform for home renovation and design, providing an all-in-one software solution for industry professionals and tools for homeowners to update their homes from start to finish. Using Houzz, people can find ideas and inspiration, hire professionals and source products. Houzz Pro (houzz.ie/pro) provides home industry professionals with a business management and marketing SaaS solution that helps them to win projects, collaborate with clients and teams, and run their business efficiently and profitably. The Houzz community is made up of millions of homeowners, home design enthusiasts and home improvement professionals around the world. Houzz is available on the web and as a top-rated mobile app. For more information, visit houzz.ie. Houzz is a registered trademark of Houzz Inc. worldwide.