Survey Reveals Consumer Attitudes Towards Homeownership, Design and Function
Better Homes and Gardens magazine recently released proprietary research and insights into the ideas, inspirations, and strategies driving consumers as they consider the function, style and efficiency of their homes.
In a presentation given at the International Builders Show, Jill Waage, editorial director for Home Content for Better Homes and Gardens revealed survey results about consumer attitudes towards home ownership, upkeep and renovations, design and personalization, and more. A primary point revealed in the presentation shows that, despite continuing economic uncertainty, consumer thoughts toward homeownership remain strong with 8 in 10 saying home ownership is still a good investment and an important part of the American Dream. The BHG survey also found that consumers are more proactive in designing and curating their homes and, in fact, are spending more time planning design changes for the home (up to 38% from 33% the year prior).
Among the survey’s key findings:
• Owning a home is still an important part of the American Dream (According to 8 in 10 surveyed).
• Consumers are taking more time to plan for home improvement projects (39% in 2011 compared to 33% in 2010) and are shopping around for more deals and bargains before committing to home improvement plans (42% in 2011 compared to 40% in 2010).
• Consumers find it more important than ever to get the most value out of every dollar (61% in 2011, up from 56% in 2010), and will spend more time looking for bargains and deals in order to get the most value for their money (Up to 54% in 2011, from 52% in 2010).
• Consumers are more willing to get rid of excess “stuff” and not willing to mortgage for more storage space. Multi-purpose rooms are a necessity in the home. Consumers aren’t interested in “bonus rooms” or “media rooms” unless they have a multi-functional purpose.
• Style upgrades claim even greater prominence as being the most important feature in consumers’ upcoming home improvement plans, followed by storage. For future projects, style upgrades on countertops, flooring, faucets and fixtures is up to 55% in 2011 from 50% in 2010. Expanded/improved storage space stayed flat at 39% in 2011, same as in 2010.
• In terms of remodeling priorities for consumers, baths are outpacing kitchens. Bathroom remodeling stayed constant in 2011 and 2010 (31%) and kitchen remodeling was stable at 25% in 2011, compared to 24% in 2010.