{"id":4175,"date":"2017-05-04T00:00:00","date_gmt":"2017-05-04T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/first-time-buyers-arent-afraid-of-renovation\/"},"modified":"2017-05-04T00:00:00","modified_gmt":"2017-05-04T00:00:00","slug":"first-time-buyers-arent-afraid-of-renovation","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/first-time-buyers-arent-afraid-of-renovation\/","title":{"rendered":"First-Time Buyers Aren\u2019t Afraid of Renovation"},"content":{"rendered":"<p>\n<\/p>\n<div property=\"dc:description\" readability=\"52.435689455388\"><!--paging_filter--><\/p>\n<p>First-time home buyers are showing a strong desire for taking on remodeling projects. First-time buyer renovators in 2016 spent $33,800, on average, on their projects. That marks a 22 percent increase over 2015, according to the sixth annual Houzz &amp; Home survey of more than 100,000 respondents in the U.S.<\/p>\n<blockquote readability=\"10.336507936508\">\n<p><strong>Average Investment in Living Spaces<\/strong><\/p>\n<p>Here is what remodelers spent in renovating their homes in 2016:<\/p>\n<ul>\n<li>Kitchens: $19,100<\/li>\n<li>Master bathrooms: $11,700<\/li>\n<li>Living\/family rooms: $5,400<\/li>\n<li>Master bedroom: $3,400<\/li>\n<li>Laundry room: $2,800<\/li>\n<li>Dining rooms: $2,600<\/li>\n<li>Guest bedrooms: $1,900<\/li>\n<\/ul>\n<p><em>Source: \u201cHouzz &amp; Home Survey,\u201d Houzz (May 4, 2017)<\/em><\/p>\n<\/blockquote>\n<p>\u201cYounger and cash-constrained first-time buyers are responding to the low inventory of affordable homes by purchasing properties that require more than just cosmetic upgrades,\u201d says Nino Sitchinava, Houzz principal economist. \u201cNot surprisingly, we are seeing their spending on home renovations increasing significantly in 2016 and expect this trend to continue through 2017.\u201d<\/p>\n<p>Both first-time and repeat buyers are taking on larger scope projects, such as remodeling up to four rooms at the same time, the Houzz survey shows. Kitchen and bathrooms continue to be the most popular rooms in the house to renovate.<\/p>\n<p>And while \u201crecent home buyers drive a significant share of home renovations today, repeat buyers are investing twice as much in their home as first-time home buyers,\u201d Sitchinava notes.<\/p>\n<p>Baby boomers and earlier generations, who are age 55-plus, continue to spend three time more than millennial homeowners aged 25 to 34.<\/p>\n<p>Overall, homeowners spent $60,400 in 2016 on <a href=\"https:\/\/amazingproperty.com.ng\/blog\/a-guide-to-home-renovation\/\">home renovation<\/a> projects, up from a $59,800 average in 2015.<\/p>\n<p><em>Source: \u201cHouzz &amp; Home Survey,\u201d Houzz (May 4, 2017)<\/em><\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/1Zb2WmhBcT4\/first-time-buyers-aren-t-afraid-renovation\"> link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>First-time home buyers are showing a strong desire for taking on remodeling projects. First-time buyer renovators &hellip; <a title=\"First-Time Buyers Aren\u2019t Afraid of Renovation\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/first-time-buyers-arent-afraid-of-renovation\/\"><span class=\"screen-reader-text\">First-Time Buyers Aren\u2019t Afraid of Renovation<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4176,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,12908,543,11877,627,127,617,1007,41,818],"class_list":["post-4175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-home","tag-home-buying-guide","tag-home-renovation","tag-homeowners","tag-homes","tag-house","tag-owners","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/1Zb2WmhBcT4","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2748,"url":"https:\/\/amazingproperty.com.ng\/blog\/homeowners-dont-want-cookie-cutter-lawns\/","url_meta":{"origin":4175,"position":0},"title":"Homeowners Don\u2019t Want Cookie-Cutter Lawns","author":"Amazing Property","date":"March 30, 2017","format":false,"excerpt":"Homeowners today are focused on making changes to their front yards so they're markedly different from their neighbors' yards and easier to maintain, finds the 2017 U.S. Houzz Landscaping Trends Survey. Homeowners want their yards to look distinct. Only 6 percent of homeowners reported front yards that were nearly identical\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3379,"url":"https:\/\/amazingproperty.com.ng\/blog\/whats-on-home-shoppers-wish-lists\/","url_meta":{"origin":4175,"position":1},"title":"What\u2019s on Home Shoppers\u2019 Wish Lists","author":"Amazing Property","date":"April 13, 2017","format":false,"excerpt":"A new realtor.com\u00ae survey reveals the top desires of home buyers today: Ranch-style homes, big backyards, and updated kitchens. More than half of home buyers say they\u2019re on the hunt for a three-bedroom home, and 75 percent want a two-bathroom home as well, according to realtor.com\u00ae\u2019s home buyer survey. The\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5765,"url":"https:\/\/amazingproperty.com.ng\/blog\/buyers-want-bigger-yards-over-bigger-homes\/","url_meta":{"origin":4175,"position":2},"title":"Buyers Want Bigger Yards Over Bigger Homes","author":"Amazing Property","date":"August 17, 2017","format":false,"excerpt":"A property that offers a great outdoor space is taking a higher priority among home buyers. In fact, home shoppers recently surveyed said they would be willing to sacrifice some space from a larger house in order to get a bigger yard. More than half of 1,000 buyers recently surveyed\u2014or\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"aug17_DN_outdoor.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/aug17_DN_outdoor.jpg?fit=830%2C390&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/aug17_DN_outdoor.jpg?fit=830%2C390&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/aug17_DN_outdoor.jpg?fit=830%2C390&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/aug17_DN_outdoor.jpg?fit=830%2C390&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5999,"url":"https:\/\/amazingproperty.com.ng\/blog\/4-tried-and-true-downsizing-tips-for-your-next-move\/","url_meta":{"origin":4175,"position":3},"title":"4 Tried and True Downsizing Tips for Your Next Move","author":"Amazing Property","date":"August 29, 2017","format":false,"excerpt":"For many people, the prospect of downsizing from a larger home to a smaller one can be quite the challenge. Sorting through possessions takes time. It can be emotionally taxing. It can be liberating. We asked Houzz readers to share their best downsizing advice, and share they did. We gathered\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"home-design.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/home-design.jpg?fit=500%2C280&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1701,"url":"https:\/\/amazingproperty.com.ng\/blog\/generation-x-flexes-its-purchasing-muscles\/","url_meta":{"origin":4175,"position":4},"title":"Generation X Flexes Its Purchasing Muscles","author":"Amazing Property","date":"March 8, 2017","format":false,"excerpt":"Millennials and baby boomers often steal the spotlight in real estate. But Generation X says it\u2019s time for the housing market to pay more attention to them instead. Gen Xers are the only generation to purchase more homes last year than they did the previous one, according to the National\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7094,"url":"https:\/\/amazingproperty.com.ng\/blog\/2017-homebuyer-survey-contains-valuable-information-for-agents-and-sellers\/","url_meta":{"origin":4175,"position":5},"title":"2017 Homebuyer Survey Contains Valuable Information For Agents And Sellers","author":"Amazing Property","date":"November 13, 2017","format":false,"excerpt":"One of the most useful research projects of the National Association of REALTORS\u00ae (NAR) is the annual survey of homebuyers and sellers. It is particularly useful because it shows sellers and their agents what works and what sources buyers use to find their new homes.\r \r This is the 36th\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"903d85408c8809e75c62ced5cf232f8b S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/903d85408c8809e75c62ced5cf232f8b_S.jpg?fit=424%2C276&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/4175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=4175"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/4175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/4176"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=4175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=4175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=4175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}