To Save Money, Homeowners Take On Major Renovations
Basement conversions and kitchen remodels are among the top DIY projects, according to a recent survey
Looking for ways to save money, many Americans are taking a do-it-yourself approach to home renovations and upgrades.
According to a recent survey of homeowners by Nationwide insurance, 3 in 4 homeowners cite high costs as a key challenge when seeking contractors for home-maintenance work. Less than half of homeowners found it easy to find reputable contractors, too.
While most homeowners said they preferred professional help for major renovations, 38% have taken on projects typically reserved for experts, such as kitchen remodels or even home additions.
Top DIY projects among homeowners:
• Basement renovations: 43%
• Front door replacements: 41%
• Bathroom remodels: 39%
• Kitchen remodel: 38%
• Full-home remodel / "gut" renovation: 36%
• Home addition (e.g., additional rooms, separate garage, etc.): 35 percent
If this do-it-yourself movement continues, local hardware stores have an opportunity to boost their bottom line. Large projects mean repeat business, and many novice DIYers will seek out insights, expertise and one-on-one service that indie hardware stores are known for.