According to the latest survey from Better Homes and Gardens (BHG) the dream of homeownership is still alive.
This survey found that 8 out of 10 consumers still see homeownership as not only a good investment but also an important aspect of the American Dream.
Homeownership gives owners the opportunity to personalize their space, a luxury renters all across the nation would love to have. With today's tough economic conditions many buyers are choosing to stay put and remodel instead of make a move.
The BHG survey found that more consumers are spending time doing updates and makeovers on their homes, up to 38 percent from last year's figure of 33 percent.
"Our homes are the physical expression of ourselves and lives. In addition to spending more time planning and hunting for the right elements for living spaces, consumers are also turning to social media platforms like Pinterest to gather and share design inspirations, smart products, creative ideas and space-wise solutions," said Jill Waage, Editorial Director for Home Content for Better Homes and Gardens.
The BHG survey also found:
1.Owning a home is still an important part of the American Dream (According to 8 in 10 surveyed)
2.Consumers are taking more time to plan for home improvement projects (39% in 2011 compared to 33% in 2010) and are shopping around for more deals and bargains before committing to home improvement plans (42% in 2011 compared to 40% in 2010)
3.Consumers find it more important than ever to get the most value out of every dollar (61% in 2011, up from 56% in 2010), and will spend more time looking for bargains and deals in order to get the most value for their money (Up to 54% in 2011, from 52% in 2010)
4.Consumers are more willing to get rid of excess "stuff" and not willing to mortgage for more storage space. Multi-purpose rooms are a necessity in the home. Consumers aren't interested in "bonus rooms" or "media rooms" unless they have a multi-functional purpose
5.Style upgrades claim even greater prominence as being the most important feature in consumers' upcoming home improvement plans, followed by storage. For future projects, style upgrades on countertops, flooring, faucets and fixtures is up to 55% in 2011 from 50% in 2010. Expanded/improved storage space stayed flat at 39% in 2011, same as in 2010
6.In terms of remodeling priorities for consumers, baths are outpacing kitchens. Bathroom remodeling stayed constant in 2011 and 2010 (31%) and kitchen remodeling was stable at 25% in 2011, compared to 24% in 2010
Waage continued: "If you want to see what a "dream home" means to consumers, simply look online where consumers are taking command of their design dreams, one pin and share at a time. The future is full of design dreaming and planning!"
Is your home a dream space? If not, then this is a great time to spruce up your rooms.