DENVER, Colo. — Denver area homeowners break with the pack when it comes to remodeling, according to the Remodeling Sentiment Report, a semi-annual survey of 5,000 U.S. homeowners sponsored by Frontrangeremodeling.com. The most recent survey reveals that remodeling plans are of a similar scope and cost as in previous years, but now homeowners are taking additional steps to reduce costs.
According to the survey, homeowners in the Denver area are much more likely than the average homeowner in the U.S. to do more of the work themselves, as well as to use more expensive materials during the remodel.
In detail the survey found:
Denver homeowners are not economizing as much as the rest of the U.S.
– Homeowners who plan to use economy materials for their remodel:
Up from 8% in 2006 to 16% in 2007 on average, but in Denver, only 4% plan to use economy materials.
– Homeowners who plan to use luxury materials for their remodel:
Down from 16 % in 2006 to 9% in 2007 on average, but in Denver, 26% plan to use expensive materials.
“Do It Yourself” (DIY)
- – Homeowners who plan on doing more than half of the work themselves:
UP from 20% in 2006, and steady at 21% in 2007, but in Denver 30% plan on doing half or more of the labor themselves.
Homeowners in the Denver area are still eager to remodel as in previous years. Additionally, because home prices haven’t declined as they have in some other areas in the country, Denver area homeowners are still interested in top-of-the-line materials.
The Denver area homeowners who responded to this survey live in homes with an average value of $320,000, and remodeling plans are estimated to cost an average of $88,000.
www.frontrangeremodeling.com was launched to help Denver area homeowners get an instant answer to the most common question, “How much is it going to cost to remodel?” The site offers a free cost calculator, as well as a variety of articles to help homeowners consider their remodeling options.