HGTV study: Consumers still want bigger homes
Home & Textiles Today Staff -- Home Textiles Today, June 28, 2013
New York - The collapse of the housing market in 2008 may have put a check on the "the McMansion" era, but HGTV's first HomePulse Survey finds that consumers still hanker for more space in their homes.
Home improvement remains a priority, with 61% surveyed saying they would "choose to spend on their homes rather than on something else like a vacation or the latest electronics," according to the research series commissioned by HGTV owner Scripps Networks Interactive and Vision Critical.
Adding to the overall square footage of their home is a top priority. More women (31%) are interested in updating their décor than men (17%). More men (19%) want to improve their in-home technology than women (3%).
One in three of the 1,010 panelists surveyed said creating "a beautiful outdoor space" is extremely important to them.
"We expected the ‘HGTV HomePulse Survey' to confirm that people love their homes and are willing to spend money to improve them, but we didn't expect that they would be willing to give up something as important as a vacation to do it," said Denise Conroy, senior vice president, marketing, HGTV.
Some 81% said "money spent on improving my home will show a good return," and 66% felt "now is a good time to invest in my home."
The poll also found 76% of non-homeowners are optimistic that they will eventually own a home, which HGTV attributes to an improving housing market. In addition, 64% of non-home owning Millennials believe they will be ready to own their own home in their 30s.
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