More than 6 in 10 homeowners prefer to remodel rather than move, highlighting the impact of high home prices and mortgage rates on their decisions.
Around 40% of homeowners plan to spend $10,000 or more on renovations in 2025, despite nearly 80% experiencing budget overruns on previous projects.
Renovation projects can lead to debt; 63% of homeowners had to take on debt to finish the work, and 36% struggled with credit card bills post-renovation.
Despite investing in renovations, 74% of homeowners have regrets, with nearly half stating they preferred their home before remodeling.
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