Kitchen remodels lead the way
Kitchens rank as the most expensive (and most popular) room to renovate for homeowners. This was the key finding from the 2019 Houzz & Home Study.1 Here are the numbers:
- The median cost of a kitchen renovation jumped 27% to $14‚000. Guest (17%) and master bathroom (14%) remodels also increased.
- Among the 50 largest metro areas‚ half saw a drop in renovation spending‚ including Boston.
- The typical homeowner who plans to renovate this year expects to spend $10‚000 – in line with spending for the previous three years.
- Baby Boomers and Generation Xers make up 81% of renovating homeowners.
As the #1 mortgage company in Greater Lexington for 17 consecutive years‚ Capstone is here to provide guidance and support.
1“2019 U.S. Houzz & Home Study: Renovation Trends‚” Houzz‚ last updated June 5‚ 2019.