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Kitchens and Baths Most Popular Projects for Recent Home Buyers
Nina Patel / REMODELING / July 17, 2013
The typical buyer spent $4,550 within three months of purchasing a home
Within three months of a home purchase, 53% of buyers undertook a home improvement project. According to the 2013 Profile of Buyers’ Home Feature Preferences by the National Association of Realtors, the typical buyer spent $4,550 on various projects. Logically, a higher percentage of buyers of previously-owned homes undertook remodeling projects within three months, compared with those who purchased new homes.
Enthusiastic first-time buyers spent more than repeat buyers on projects costing less than $5,000. However, a higher percentage of repeat buyers completed $25,000 to $50,000 projects.