"Did you know that by 2025, nearly 90% of U.S. homes will be over 20 years old ? That's a lot of houses starting to show their age; from outdated kitchens and bathrooms to drafty windows and worn-out doors. For homeowners, this isn't just a challenge; it's an opportunity. Enter the home remodeling boom. With a projected $425 billion in renovations by 2027, Americans are investing in upgrades that improve comfort, boost home value, and bring their spaces up to today's standards."
"Millennials are buying older homes: With limited new construction on the market, many younger buyers are choosing older houses. More than 80% of millennials say they'd rather renovate than buy new , since it gives them the freedom to customize and add value. Aging homeowners want to stay put: Over 132 million Americans are now 50 or older, and many are choosing to remodel instead of relocate."
Nearly 90% of U.S. homes will be over 20 years old by 2025, creating widespread need for updates and repairs. Renovation spending is forecast in the hundreds of billions through the mid-2020s, with estimates including $500 billion by 2025 and $425 billion by 2027. Millennials are buying older homes and often prefer renovating to customize and add value. Older homeowners are remodeling to age in place, adding features like walk-in showers, wider doorways, and slip-resistant flooring. High prices and limited move-in-ready inventory make remodeling a financially attractive alternative to moving.
Read at Redfin | Real Estate Tips for Home Buying, Selling & More
Unable to calculate read time
Collection
[
|
...
]