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Mar 8, 2023

Homeowners Remain Motivated For Home Projects

Outdoor projects and kitchen remodels were the most popular home improvement projects for the fourth quarter of 2022, says the Home Improvement Research Institute (HIRI) in its ‘Home Improvement Project Activity Tracker.’ Typically, as fall fades into the winter months, homeowners wrap up their outdoor projects in favour of indoor improvements, redirecting attention toward the interior of their homes. However, that was not the case in the fourth quarter of 2022, as more homeowners (28 per cent) opted to continue working outside even though, in the prior quarter, only 13 per cent said they planned to do so. Homeowners are opting to expand livable spaces outdoors and new homebuyers are sacrificing interior square footage and opting to invest instead in outdoor living spaces. Likewise, kitchen projects remained strong in 2022, despite peaking in the second quarter. Eighteen per cent of those surveyed in the third quarter said they planned to remodel or update their kitchens in the fourth quarter, while 25 per cent actually took on these projects by year’s end. This intent is pushing into the first quarter of 2023 as well, with many homeowners planning to conduct a kitchen repair or remodel project over the next few months. Most respondents (17 per cent) plan to make small renovations and cosmetic changes to their kitchens such as painting, redoing floors, and/or replacing old countertops.

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