Spending more time at home has most people developing strong feelings about their property.
Nearly half of respondents (44%) in a Sears Home Services survey reported feeling less satisfied with their home since the start of the coronavirus pandemic. Those who lived in smaller homes of 1,000 square feet or less were more likely to be less satisfied than those who resided in homes that were 1,000 square feet or more at 48% compared to 40%. However, 33% of consumers reported being more satisfied with their home and 22% felt no change in their feelings since the beginning of the pandemic.
One aspect the pandemic has had an impact on is people’s alone time. On average, respondents said they preferred 8.4 hours of alone time a week, but were only getting 7.1 hours since the pandemic, but only 42% reported they find it difficult to get alone time. However, 79% of respondents said they have lied to get some alone time. Walking the dog was the most common tactic for alone time for 41% of respondents.
Yet, 38% of respondents said they pivoted to working on a home improvement project to get some time by themselves. And with some free time on their hands, people have been contemplating what they want to update or add to their homes.
The most popular feature people want to add is a home gym, at 41%, followed by a home office at 37%. Thirty-two percent said they’d like to add a game space, while 31% said they’d like to update or add kitchen space. A garden space was a popular answer at 28%, followed by an in-home theater at 27%.
“Home improvement projects can add substantial value to a property, especially if it’s a project that spans beyond personal interests and will appeal to others later down the road. Before committing to a substantial project, consider how much it will affect your home’s value in relation to the overall cost of the project. A great way to approach this is to simply consider the next buyer. What do their real estate needs and values look like?,” said Donna Wright, advertising manager for Sears Home Services.