A lot of homeowners desire to have their homes remodeled as they it gives them a sense of wellbeing. And who wouldn’t want that? There are thousands of residences that are remodeled anually to satisfy the wish of some homeowners. In the newest home remodeling statistics done by the Germany’s Institute for the Study of Labor, their research point out that it is not only the locals of a country who wishes for a better residence.
In fact, even immigrants are also keen on developing their homes since they end up being homeowners themselves. The same study also showed that there is still a higher rate of homeownership in US (63%) compared to Germany (42%).
The long-term trend in home remodeling statistics indicate an increase of homeowners who carry out in improving their properties, but the recent economic downturn have considerably decreased it by as much as 9%. A few homeowners postpone home remodeling or reduce their remodeling budget by 3.5 to 4.5% as they they can still hold up with their current house. Even so, home remodeling companies are still aiming for the relatively untapped immigrant homeowners market who are fond of the idea of having a splendid residence. It is because a house is an indicator of social status, wealth, and prestige among immigrasnt groups.
There were several home remodeling projects that were recorded by the Joint Center for Housing Studies at Harvard University. This research reported a notable pattern on home remodeling statistics by immigrants. Apparently, immigrants paid more attention to remodeling their kitchen and bathroom in the period between 2002 to 2007.
This may indicate that food preparation and meals are valued in immigrant cultures as these activities brings the family members closer to each other. Bathroom remodeling was the next option since the immigrants wanted to experience a toilet that is decent and clean. Furthermore, a few immigrant cultures takes baths more frequently and that is why bathroom remodeling is a common occurence.
Home remodeling statistics may be viewed in the websites of national agencies that handle housing projects. Also, certain websites that deals with the housing industry publish papers related to the trends in housing.