U.S. homeowners who completed home projects averaged $13,138 on home services in 2020, up from $9,081 the year before. They completed an average of 11 projects, including landscaping and cleaning. That’s up from 8.1 complete projects in 2019.
In its State of Home Spending report, HomeAdvisor says Americans spent more because of higher supplies and labor costs due to the COVID-19 pandemic, but also spending money they’d otherwise spend on other categories such as entertainment or travel.
That $13,138 breaks down to, on average, $8,305 on home improvement spending, $3,192 on home maintenance spending, and $1,640 on home emergency spending.
HomeAdvisor reports that the top reason for home improvement spending in 2020 was to make the home better suit lifestyle needs.
Eighty-five percent of Americans reported spending more time at home because of the pandemic, and 67% reported spending significantly more time there. Sixty-three percent of those surveyed noticed more areas in need of improvement around their homes. Bathroom remodels, interior painting, and installing new flooring topped the list of completed home projects.
HomeAdvisor surveyed 5,000 Americans last July to compile the report. Read the full report here.
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