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Oct 9, 2023 | 2 min read

7 in 10 homeowners plan to make a renovation to their home in the next 12 months

Did you most home renovation projects begin in the spring? In our latest Nextdoor study, we explore neighbors' home renovation plans across the U.S.

7 in 10 homeowners plan to make a renovation to their home in the next 12 months. Compared to the average adult, Nextdoor users are 50% more likely to plan to renovate their home in the next 6 months.

Room remodels are the most common type of renovation being considered, with 65% of US adults expecting to complete one. 

Screenshot 2023-10-09 at 2.02.26 PM

Updating a home’s style is the top reason for seeking a renovation, followed by enhancing the value of one's home and repairing damage. 

Screenshot 2023-10-09 at 2.06.36 PMBeing neighbors with someone who has recently renovated also plays a role. The odds of a homeowner planning to renovate in the next 12 months increases by 30% if a neighbor of theirs has recently completed one. 

1 in 5 expect to spend more than $25K on their project, and a vast majority will tap into their savings in order to finance these projects. 

Screenshot 2023-10-09 at 2.09.14 PMShopping for tools & supplies is more likely to be done in-store. 

Screenshot 2023-10-09 at 2.11.22 PMRecent movers present a unique opportunity to home improvement advertisers. More than half of all recent moves by Neighbors are to homes that will require some maintenance. 

Screenshot 2023-10-09 at 2.13.10 PMFor additional insights on home repairs, visit our Insights Hub and learn more about how Nextdoor helps businesses convert neighbors into customers here: business.nextdoor.com/enterprise  

 

Source: Nextdoor Survey (09/2023)



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Author image Nextdoor Enterprise Team The Nextdoor Enterprise Team is dedicated to telling success stories of Enterprise brands and agencies, providing product education, and sharing the latest marketing insights to help you authentically join neighborhood conversations and make trusted connections with your audience.