Home Renovations are on the rise, and older homeowners are a substantial part of having their homes remodeled.
Homeowners who are 55 and over are a big force behind the increased spending, according to a recent report from the Harvard Joint Center for Housing Studies.
Below are some of the most popular items they are having improved.
AGE DISTRIBUTION
Ages 65 and over, 26% of spending | $9,443 average expenditure
Ages 55–64, 25% | $10,815 average
Ages 45–54, 23% | $11,542 average
35–44, 18% | $11,700 average
Under 35, 9% | $9,714 average
MOST POPULAR HOME IMPROVEMENTS
Carpets, floors, paneling, ceiling tiles, 5.2 million homeowners | $3,283 average expenditure
Plumbing, 4.1 million homeowners | $1,360 average
Built-in dishwashers and garbage disposals, 3.7 million homeowners | $570 average
Windows and doors, 3.7 million homeowners | $3,442 average
Water heaters, 3.6 million homeowners | $976 average
Roofing, 3.4 million homeowners | $7,674 average
Bathrooms, 2.9 million homeowners | $6,362 average
Landscaping and sprinkler systems, 2.8 million homeowners | $2,497 average
Central air-conditioning, 2.7 million homeowners | $5,113 average
Electrical wiring, fuse and breaker boxes, 2.2 million homeowners | $1,473 average
If considering remodeling your kitchen, bathrooms, room additions and more, contact Rabco Construction Services to talk about best options for remodeling, great choice of design options, along with taking care of all plans and permit requirements.
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