If you had $10,000 to upgrade your home, how would you spend it? Here’s what most would do

NEW YORK — The kitchen is truly the heart of the home — according to a new poll focusing on home improvement. If Americans had an extra $10,000 to spend, that is where they’d invest their cash.

The new survey of 2,005 nationally representative Americans asked which areas of the home people would look to upgrade first if they suddenly had $10,000 to splurge. Upgrading appliances comes in as the top priority for home improvements, according to nearly a quarter of respondents. After updating the kitchen, Americans cited updating their bathroom fixtures as well as their furniture as secondary areas of interest.

Creating the ‘dream home’

Dream HomeConducted by OnePoll on behalf of Thermador, the study found that when it comes to building or upgrading their actual “dream home,” the average American estimates that it would cost them nearly $60,000.

Nearly six in 10 (57%) have fallen in love with an item for their home – but didn’t follow through on the purchase, with the top reason being that it was too expensive (60%).

Not all Americans need to spend big money to achieve the look of their dream home however, as nearly one in three Americans feel as though they could create their dream home for under $25,000. Further, 10 percent of the poll would only need a max of $10,000 to make their dreams come true.

“More often than not, Americans think updating the kitchen is unattainable and too cost-prohibitive to achieve the luxury they desire,” says a spokesperson from Thermador in a statement. “However, creating your dream kitchen is easier than you may think – and can be accomplished even with a budget of $10,000.”

Kitchen, yard lead way for home improvement

When considering the top priorities for their dream home, Americans call a large yard (57%) and luxury kitchen appliances (55%) their ultimate must-haves, leaving no stone unturned when it comes to building their ideal space.

Dream HomeOther must-have items on the list include home security systems (43%), smart home technology (42%), and non-essential areas (40%) – such as home gyms, theaters, and even saunas. Thirty-seven percent of respondents are dreaming even bigger than this, citing they would want a separate guest house as part of their perfect home.

So what if a budget wasn’t a consideration when it comes to building a dream home? The top luxury items Americans would outfit their homes with include a home theater (34%) and an 8K television (32%).

With an unlimited budget, nearly one in five respondents would upgrade their dream home’s kitchen with a double or triple oven and 15 percent want a double stove or range as well. Other dream kitchen wish list items include a wine refrigerator (10%) and an under-the-counter refrigerator (8%). Across the board, kitchen items ranked highly on the list of the most desired items for the American dream home.

When it comes to planning for when they would want to purchase their dream home, there is no “right” time. The survey finds Americans consider purchasing or upgrading their dream home at a variety of life stages – from single, to newlywed, to retirement.

“By prioritizing your needs and selecting quality items – such as full kitchen solutions via luxury, connected appliance packages, you can easily elevate your home and experience a new model of affordable luxury at the right moment for you, and with technology that will advance for years to come,” the Thermador spokesperson adds.