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From decorating a small bedroom to building a custom home and everything in between, Houzz connects millions of homeowners, home design enthusiasts and home improvement professionals across the country and around the world.
Houzz’s annual publication of its Houzz & Home 2016 report – the most comprehensive of its kind – provides key insight into residential renovation, building and decorating activity. The latest report covers a wide range of renovation projects undertaken in 2015, from interior renovations and extensions 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.
Interestingly, the 2016 report found that millennial homeowners in the UK are very active home upgraders, with more than half of those on Houzz aged between 25-34 renovating their home in 2015 – a figure that falls in line with older homeowners (57% of millennials, 57% of those aged 35-54 and 57% of 55+). However, it is on the decorating front where millennial Houzzers are the most active, taking a lead over other generations. For those millennials who are improving and not moving, financial considerations are top of mind. 39% cite a better return on investment as the second top reason for renovating versus buying, followed by affordability (35%). More than anything, however, millennials want a personalised home that fits their vision for what a home should be (41%).
Overall, nearly two in five of renovating UK homeowners were improving instead of moving due to their desire to stay in their current home (38%). Almost one-third chose the renovation route in order to remain in their current neighbourhood (30%). Surprisingly, financial considerations trail somewhat behind the line of reasoning, with renovation seen as a return on investment by only 27% and the more affordable option by 29%.
Widely considered the heart of the home, kitchen renovations were a high priority for UK homeowners on Houzz – 28% of Houzz users upgraded their kitchens in 2015. The most commonly cited reason for wanting a kitchen makeover was to update an outdated or undesirable design (44%). Wall colour or texture was the most popular feature to replace (80%), or improve, followed by worktops (79%). It was also clear that homeowners wish for their kitchens to be bigger, as 45% reported that they increased the size of their space. Clearly, size does matter for UK homeowners on Houzz.
Undertaking a kitchen project is a real commitment, with the average kitchen being completed after 5.8 months. And budgets can be significant, too. When it came to major renovation on larger kitchens, where at least all the cabinets and appliances were replaced, UK homeowners spent an average of £16,880, and major renovation on smaller kitchens came in at £10,420.
Overall, nearly one-third of renovating homeowners take on a renovation project without setting a budget (29%), and nearly the same share exceed their established budget (32%).
Millennials were the group who most commonly overspent (37% vs. 33% for those aged 35-54 and 27% for those aged 55+). The top budget buster for all age categories was the decision to opt for more upscale products and materials (48%), ahead of the project being more complex than expected (38%). Products and services being more costly than anticipated (37%) were also a common culprit.
UK homeowners on Houzz spent £42,700 on average on home improvements in 2015, with homeowners aged 55 and over spending significantly more on home renovations than millennial homeowners (£40,000 vs. £28,500, respectively). With such considerable budgets and scopes, it is little surprise that so many homeowners decide to enlist a professional for their projects, rather than going at it alone. In fact, more than nine in 10 homeowners renovate their homes with professional help (92%). The most popular trades are builders (31%), kitchen designers and fitters (24%) and architects (22%). The most sought-after tradesmen are electricians (66%), plumbers (59%) and carpenters (45%). It seems that when homeowners are finally investing in a home improvement project, they want to get it right.
