Melanie Hearse - 1 Oct, 2019

We’re spending more money on our kitchen revamps

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Often described as the heart of the home, kitchens have evolved over the last hundred years from utilitarian, closed-off rooms to becoming the central hub. 

So it’s of little surprise they’re the most popular rooms to renovate. According to the annual Aussie Houzz and Home renovation report, 26% of all surveyed homeowners selected kitchens as the room they’ve put their time and money into.

We’re also spending more on them. The amount spent on kitchen remodels jumped 16% in the past year to a median spend of $20,000 for a large kitchen (more than ten square metres.) Bathrooms scored the second-highest average at $13,000 for a large master (more than five square metres.) 

The report also showed that home renovating is popular. Half of the homeowners surveyed renovated their home, and 47% planned to continue or begin renovations in 2019.  

Who is renovating and why? 

Baby Boomers (ages 55-74) and Gen Xers (ages 40-54) are leading the renovation charge. Combined, they represent over three-quarters of the renovation activity, at a median spend of $21,000 and $23,000, respectively. This trend is likely to continue, with 41% of Gen Xers and 35% of Baby Boomers anticipating renos in 2019.

Improving the look and feel is the most common motivation, followed by improving functionality, increasing resale value and improving energy efficiency. 

And why now? Finally having the time tops the list, followed extremely closely by ‘finally having the funds’. The other reasons nominated include ‘customising a recently purchased home’, ‘adapting to recent family or lifestyle changes’ and ‘addressing recently discovered damage’ respectively.

What are we doing?

Decorating and furnishing continues to be our top activity when it comes to spending on our homes (53%). Renovating clocks in close behind at 50%. Repairs are the other key area of spend and activity at 41%.

We’re renovating an average of three interior rooms per project and updating an average of 2.7 home system features, including cooling, plumbing and electrical. Exterior paint is an unsurprisingly popular purchase, as are gutters and drains, upgrading fencing, and garden beds. 

The survey also asked respondents to nominate what issues they experienced when renovating. Perhaps unsurprisingly, finding the right service provider topped the list of troubles, at 35%, closely followed at 34% with finding the right materials and staying on budget. 

On a cheering note, 76% of our renos are being funded by cash or savings.

You can read the full report here

Words by Melanie Hearse

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