Maybe you’re not completely happy with your house, but home prices are keeping you from buying something else. Renovations may be the way to go.
Houzz, a home remodeling and design website, surveyed more than 20,000 homeowners across the country who use its platform for its annual report about renovation trends. More than half—54 percent—renovated in 2024.
Test how much you know about recent remodeling trends, based on Houzz’s findings.
1. What is the median amount homeowners spent on renovations?
A. $35,000
B. $50,000
C. $10,000
D. $20,000
2. Homeowners were most likely to use which method to pay for renovation projects?
A. Home loans
B. Credit cards
C. Cash from a home sale
D. Savings
3. In what year did renovation spending hit a peak?
A. 2023
B. 2021
C. 2020
D. 2022
4. Homeowners in the top 90th percentile spent _____ or more on renovations.
A. $200,000
B. $140,000
C. $100,000
D. $175,000
5. Which generation renovated the most?
A. Baby boomers
B. Generation X
C. Millennials
D. Generation Z
6. Major remodels of two spaces drove the remodeling market: kitchens and ____.
A. Home offices
B. Dining rooms
C. Bathrooms
D. Bedrooms
7. What was the most common outdoor structure project?
A. Gazebos/pergolas
B. Sheds
C. Decks
D. Kitchens
8. What was homeowners’ top motivation for remodeling last year?
A. Finally having the money
B. Wanting to sell their home
C. Deciding not to buy another home
D. Finally having the time
9. What share of homeowners who renovated plan to stay in their home for at least another 11 years?
A. 61 percent
B. 45 percent
C. 32 percent
Answers
1. D. Homeowners spent a median of $20,000 in 2024.2. D. Homeowners used an array of financial sources to cover renovation costs, but most—84 percent—tapped into their savings.
3. A. The median amount homeowners spent on renovations peaked in 2023 at $24,000.
4. B. These top spenders shelled out $140,000 or more on renovations, down from $150,000 in 2023.
5. A. Baby boomers accounted for 59 percent of homeowners who renovated, followed by Gen X at 29 percent.
6. C. Bathroom and kitchen remodels are most popular, although spending on both was down in 2024. Kitchen renovations historically were most popular, but bathroom projects caught up last year.
7. C. Decks were the most common outdoor structure, with 14 percent of surveyed homeowners who renovated tackling this project.
8. D. 40 percent of surveyed homeowners who renovated last year said they did so because they finally have the time, followed by 35 percent who said they finally have the financial resources.
9. A. About 3 in 5—or 61 percent—of homeowners plan to stay in their newly renovated home for a while.
