Additions & Remodeling Service Near Ashburn,VA

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Additions & Remodeling Statistics and Insights for 2025

Market Size and Growth

The U.S. home remodeling market was valued at $432 billion in 2023 and is expected to reach approximately $650 billion by 2032, growing at a CAGR of 4.8%. This growth is driven by increased disposable incomes and the high cost of new homes, making remodeling a preferred option for many homeowners.

Source: Global Market Insights

Popular Remodeling Projects

Common home improvement projects include interior painting (32.2% of households), bathroom remodeling (27.7%), and installing smart home devices (27.1%). Other popular projects are kitchen remodeling, exterior painting, and landscaping. Notably, the popularity of new cabinet installations increased by 61% compared to the previous year.

Source: Ruby Home

Spending Trends

Median annual spending per household on home improvements was $24,000 in 2023, a 60% increase from 2020. However, planned spending is expected to decrease in 2024, with homeowners anticipating a budget of around $15,000, similar to 2020 levels.

Source: Fixr

Top ROI Projects

Curb appeal projects like garage door replacements have the highest return on investment (ROI) in 2024, with an ROI of 193.9%. Other high-ROI projects include entry door replacements and outdoor improvements, highlighting the value of exterior updates for increasing home value.

Source: Fixr

Regional Insights

California leads in remodeling demand due to high property prices and construction activity. Naperville, IL is the most expensive city for remodeling, while McAllen, TX is the cheapest. Detroit, MI ranks as the least affordable city for remodeling costs compared to household income.

Source: Houzz

Demographic Trends

Long-term homeowners (6+ years) complete the majority of remodeling projects but tend to spend less per project. Recent homebuyers (less than 1 year of ownership) undertake larger projects with a median spending of $30,000, contributing the most to total remodeling expenditures.