Looking to renovate? Average person willing to drop $42,000 on home remodeling

NEW YORK — The average homeowner is willing to shell out $42,000 to give their home a facelift. A survey of 2,000 homeowners looked at how they make their home feel new again and reports that most want to update their home’s appearance (69%). Overall, 63 percent agree that their home could use an overhaul.

The survey also finds that six in 10 homeowners have a specific vision of how they want their home to look, feel, and function (62%). Most of those respondents are motivated to make changes to their home to achieve that vision (77%).

Conducted by OnePoll in conjunction with Andersen Windows & Doors, researchers say that when renovating, 27 percent of homeowners are looking to create a more contemporary space, characterized by sleek surfaces, clean lines, an open floor plan with an abundance of natural light. The same percentage of respondents are seeking a farmhouse-style home, opting for a simple design with rustic charm. Nearly a fifth of respondents shared that a ranch house is their ideal home style (19%), featuring a single story and patio.

For many, a home update would include creating more open space (31%), finding ways to let more natural sunlight in (30%), or changing the shape or size of their windows (29%).

Homeowners want to get rid of that old look

Homeowners prioritize easy aesthetic updates first. Upon moving in, some of the first home projects people tackled included the paint or wallpaper (36%), flooring (33%), or lighting fixtures (29%), citing that what was there when they purchased the home was old or unattractive. Others made changes because they just didn’t like the way it looked (41% each).

A third of respondents have made changes to their home to improve function and energy efficiency (34% each). Still, half of homeowners say there are changes they’ve wanted to make to their home since moving in that they have yet to tackle (51%).

When considering how they want to renovate their homes, respondents are prioritizing energy efficiency (43%) and better space utilization (38%).

“A thoughtfully designed home is one that is functional for you and your lifestyle, whether you’re the host/hostess, the first-time parents, the chef in-training or the alfresco enthusiast,” says Kristy Howe, vice president of marketing at Andersen Corporation, in a statement. “Tackling home improvement projects that increase functionality – such as changing your interior layout for better flow, adding more windows to boost natural light or swapping out old carpet for hardwood – can change the overall look and feel of your home, making it feel refreshed and new.”

Let there be more light

As they look to the future, respondents would love to update their homes with bonus features like a porch, patio, or deck (24%), sliding glass doors that open to the outdoors (22%), or a garden (22%). For now, however, they may stick to the most DIY-friendly task: adding a new coat of paint or wallpaper (47%), with 38 percent agreeing that that small change can help transform a home.

Others think more significant upgrades like changing the interior layout (32%) or installing new windows (26%) are what will help make a home feel new. When it comes to these kinds of updates like installing new windows (67%), cabinetry (59%), or changing the interior layout of their home (58%), respondents are more likely to call in an expert. This may be because many see windows as one of the keys to a well-designed and inviting home, and most agree that homes that don’t have enough natural light feel less welcoming (58%).

More than a third of respondents even say they’d be happier (38%) and more productive (33%) if they had more natural light at home.

“The impact daylight has on a home goes beyond design style – it makes a space feel brighter, more comfortable and airy and generally more inspiring,” Howe says. “Increasing our home’s connection to the outdoors through improved natural light also has positive health benefits. Access to natural sunlight has been shown to boost mood and energy and promote quality sleep.”