We were excited to read through the recently released 2023 U.S. Houzz & Home study (Download the full report here)! It confirmed quite a few of our suspicions—including our belief that investing in home renovations is still viewed as incredibly beneficial to most American families.
One of the surprise takeaways? Many homeowners are renovating their homes for the long haul. More than three in five homeowners who renovated in 2022 are seemingly planning to stay put and enjoy their efforts. This number also indicates that the recent share of homeowners undertaking renovations for resale value has lessened by half this year in comparison to 2018. With this data in mind, we are even more confident than ever—our refrigeration units don’t just look spectacular, they’re meant to last. And with our American-made brand, commercial DNA, and finish and hardware options—we are in a great position.
What was not as surprising is that kitchens and bathrooms continue to be regarded as main attractions and prime targets for remodels. In addition, these two beloved spaces in the home are also said to command the highest average spends coming in at $20,0000 and $13,500, respectively. While investing in a kitchen remodel is quite costly—appliances are usually the culprits here—the kitchen is generally the most active spot in the home. Whether it’s employed for family dinners or entertaining purposes—there is a familiar and unavoidable tendency by family and guests alike to gather in the kitchen, or as we love to think of it as: The heart of the home! Hence, kitchens should always be as incredibly functional and as aesthetically pleasing as possible.
In addition, it seems like the DIY days for kitchens and baths are seeing a decrease. Homeowners who entrusted their renovations or remodels to design professionals grew from 20% in 2021 to 26% in 2022. Kitchens are not the easiest places to renovate and investing in someone well-versed in the field can make all the difference—just as it can be equally as advantageous to invest in an exceptionally well-built (and stylish) appliance.