Owners are spending more on home projects

Homeowners spent $9,081 on home projects in 2018, an increase of 17% year-to-year.

According to HomeAdvisor’s State of Home Spending Report, homeowners spent the most on home improvement projects last year, at $7,560 on average. This topped their average home maintenance spending, which averaged to $1,105 and their average home emergency spending at $416. To put it in perspective, for every $1 spent on maintenance, homeowners spent $5 on home improvement projects. However, they are completing more maintenance projects, at 6.7 per year, while only completing 2.2 improvement projects. In Pennsylvania, spending on home improvement projects fell below the national average.

While the average money spent on home emergencies was only $416, more than 50% of respondents did not have a home emergency. Those who did reported they spent more than $1,200 on a home emergency. The majority of home emergency projects were thanks to weather events, like flooding or hurricanes.

The top reason homeowners do improvement projects is due to a problem, while the second most popular reason is aesthetics. Bathroom remodels were the most popular home improvement project for the second year, while new flooring, landscaping, exterior painting and new appliances were also popular projects across homes in the country.

When working on projects, men are 50% more likely than women to say they are the “sole” decision maker, but women report completing 9% more home improvement projects and their median spend is about 7% higher than men’s. Millennials are the most likely generation to do home improvement projects to add value to their home, while baby boomers and Generation X are more likely to do projects to modernize their home.