When it comes to home renovations, Connecticut and New York are near the top of the 50 states in yearly expenditures.
Real estate experts at AgentAdvice.com have analyzed data detailing expenditures per household on home improvements from the Census Business Builder. According to their survey, Connecticut takes fourth place – behind New Jersey – spending on average $4,356.67 on home improvements per household. The average remodel prices in Connecticut are the same as those in neighboring Massachusetts. A mid-range kitchen remodel would cost approximately $27,827 in Massachusetts, while a major upscale kitchen remodel could cost up to $167,777. A bathroom renovation in New England could cost between $27,775 and $83,580.
New York was 13th, with an average yearly expenditure of $3,743.09. (New York would’ve ranked 14th if the District of Columbia were recognized as a state. It finished fifth.)
And what are residents in these states renovating? In addition to collecting average home improvement spending data in each state, AgentAdvice.com gathered Instagram hashtag data for various rooms in the home to establish the most popular types of home renovations. The top 10 most popular home renovations, according to Instagram, are:
- Kitchen renovation – 1.8 million posts;
- Bathroom renovation – 1.4 million posts;
- Basement renovation – 84,400 posts;
- Bedroom renovation – 63,300 posts;
- Living room renovation – 30,500 posts;
- Garage renovation – 17,200 posts;
- Dining room renovation – 5,000 posts;
- Home office renovation — 1,000 posts.
Said real estate expert Chris Heller from AgentAdvice.com:
“Home renovations have gained massive popularity since the global pandemic, as homeowners wish to enhance their living space and potentially add value to their home. The kitchen is a great place to start any renovation projects as it is the heart of the home and a valuable communal space for those wanting to buy a new home. Homeowners who embark on a kitchen renovation could expect to see a 30.7% to 85.7% return on their investment when selling their home.”
