Remodeling is a popular idea, but many think it's easy to overspend, despite renovation costs going down this year.
Home remodels are gaining in popularity, particularly as prices for existing homes skyrocket. Nearly 63% of homeowners surveyed by Adobe said they’d rather remodel their homes rather than deal with the home-buying process. The survey included more than 1,000 homeowners across the country. The home-buying process can be intimidating, but it doesn’t scare away every buyer. One in three survey respondents would prefer to buy than remodel their current homes.
Renovations and remodels are getting less expensive as the year goes on. Annual spending for improvements and repairs are projected to go down throughout the year and into 2025, according to the Leading Indicator of Remodeling Activity , released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
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