ALMOST ONE FOURTH OF new home buyers plan to improve the landscaping in their home, and 17 percent of new home buyers say they will have their brand new home re-painted. These are among the findings of a survey of 600 new homeowners, half of them owners of new houses, which was conducted by the Tampa-based Home Improvement Research Institute. The survey revealed that homeowners who had been in their new homes for one year had completed an average of four projects, with each project costing about $3,100—perhaps that could flow to the builder, if the homeowners felt comfortable revealing the improvements they planned to make.
The study examined the differences between the types of work done by purchasers of new versus existing homes. According to the survey, while buyers of existing homes planned to paint and install new floors, new-home buyers planned to invest in landscaping and electrical work.
The study concluded that new-home buyers, who tend to have high incomes, would spend more money on remodeling projects than existing-home buyers because the new-home buyers were more likely to hire contractors and use high-end products.
| Digging In | |
|---|---|
| A study by Tampa-based Home Improvement Research Institute revealed landscaping and painting were among the most frequent projects new-home buyers tackled after moving into their new homes. Significant differences were found in the home projects of those who had bought a new home versus an existing home. | |
| Landscaping | New: 24 percent Existing: 6 percent |
| Interior Paint | New: 17 percent Existing: 36 percent |
| Electrical | New: 11 percent Existing: 17 percent |
| Cabinetry/Countertops | New: 8 percent Existing: 8 percent |
| Deck/Patio | New: 8 percent Existing: 2 percent |
| Flooring | New: 7 percent Existing: 29 percent |
| Exterior Structural | New: 6 percent Existing: 10 percent |
| Interior Structural | New: 5 percent Existing: 10 percent |
| Addition | New: 5 percent Existing: 4 percent |
