ATM Survey Says It’s All  About Upgrades

There’s no denying the pandemic added fuel to the already hot real estate and residential remodeling markets. As homes were pressed into service as workplaces, classrooms and fitness centers, homeowners increasingly discovered they were lacking “must have” amenities. In its 2022 report, Accountability Information Management (AIM) pressed consumers about the motivations behind their desire to remodel or move.

Why home owners remodel or moveThe survey says “desire to upgrade” is driving homeowner decisions. 

Nearly half (49 percent) of homeowners reported that they wanted to make upgrades to their current homes by adding new features or refurbishing existing features. In terms of remodeling, painting walls, replacing flooring and bathroom upgrades such as new fixtures and fittings topped the list. More than 50 percent of respondents also indicated they would choose to replace kitchen cabinets and countertops if able to.

Reasons for moving are multifaceted. 

Relocating – either within state or to another state – was noted by 30 percent of the survey respondents. Some homeowners (24 percent) said the need for more space was their motivation to move, while 13 percent named downsizing chief among their reason for wanting to move, and 11 percent cited accessibility as a motivating factor. Among other survey discoveries:

  •  Consumers who reported they want to move to another state were most often from California, Illinois and Pennsylvania.

  • Individuals who expressed the desire to “downsize” typically were age 55 and older.

Accountability Information Management, Inc. (AIM) is a full-service B2B marketing research and information management company specializing in innovative, custom-designed research and analytical data services to support and enhance clients’ strategic business decisions. AIM enables clients to measure critical market parameters in order to stay connected to their customers, the competition, suppliers and the ever-changing market environment. AIM has been conducting B2B and B2C building industry research for more than 25 years. 

For more information, email or call 847-358-8558.