Homeowners Plan To Renovate

When it comes to planning for home renovation, 50 per cent of U.S. homeowners plan to pursue additional projects in the next six months, up from 38 per cent in January 2021, says Modernize Home Services’ ‘2022 Homeowner Sentiment Report.’ Approximately 50 per cent of homeowners use recommendations from friends to find a contractor, after price, with the top reasons for choosing a contractor were online ratings, expertise, and references. Thirty-seven per cent of respondents spend one to five hours on research before hiring a professional, with 43 per cent spending at least six. In terms of financial plans for projects, 83 per cent have not created a budget and, if they do, are not confident in it, with 73 per cent either somewhat or not confident of their budget. However, 41 per cent of homeowners with a budget found online tools and guides to be helpful tools for budgeting their project.