We’ve mentioned a few times that people now working from home more often have been making purchases to make their home more comfortable to live in. This doesn’t merely extend to smart technology, entertainment centers, or upgraded appliances, though. Home renovation projects increased by 25% in the first half of 2021.
36% of people renovating are trying to make better use of the space their have by remodelling rooms, including basements and attics. In many cases, this is probably to create a home office space. 12% have decided they want an entirely new room and are building an addition. 17% are aiming more for the comfort and entertainment aspect, and have opted to add a pool or hot tub. Such renovations are likely for personal reasons as a response to the work-from-home model, but they will also add value to the home later down the road.