Delta® Brand Homeowner Index Shows Spike in Remodel Budgets
Survey respondents willing to spend 24% more on makeovers since spring, with tech focus
INDIANAPOLIS, Nov. 27, 2018 /PRNewswire/ -- Today, the Delta® brand revealed its annual Homeowner Index results, which found homeowners are willing to pay an average of $17,172 for a kitchen remodel, up from $13,859 last spring. As Americans dig deeper into their wallets, the index indicated shifts in material preferences and technology integrations.
"The Delta brand continues to explore the evolving landscape of kitchen and bath solutions, and consumers are at the heart of every innovation," said Susan Fisher, vice president of marketing, Delta Faucet Company. "According to the survey, homeowners strive to implement modern design that combines style, functionality and technology – which aligns well with current brand innovations such as Delta Voice Activated Faucet Technology."
In fact, a majority of homeowners (68%) agree it is important to consider "smart" products, such as Bluetooth systems and voice-activated devices, when making home design decisions.
Other notable key findings revealed by the Index include:
- Solid Choices. Incorporating different textures in the home is key. Among the textures homeowners find appealing, tile, marble and granite (71%) lead over wood (57%), glass (34%) and soft materials (31%).
- Back in Black. Designing a home comes with endless choices, one of the most important being finish. Interestingly, parents (24%) are more likely to choose Matte Black finishes than non-parents (15%). Matte Black is also more popular among Millennials compared to Gen Xers and Boomers.
- Smart Design. Homeowners believe smart home products (39%) will be the most prevalent in home design in the next 10 years, over sustainable materials (24%) and products that are customized (19%).
- Return on Investment. The satisfaction of a customized home is a big benefit of remodeling, but it can also provide financial incentive. Aside from cost, nearly a third (32%) of homeowners consider the resale value that a remodel will add to be the most important factor to consider during a remodel, increasing from 24% in 2017.
While homeowner budgets seem to be on the rise, the end goal for remodeling can vary based on length of ownership. Homeowners who have owned their home for less than five years (36%) focus more on the resale value of the remodel compared to those who have owned for five years or more (30%).
For additional information on Delta brand product solutions, visit: deltafaucet.com.
About Delta® Brand Homeowner Index
Launched in 2017, the Delta® Brand Homeowner Index tracks renovation, design and purchase habits among today's American homeowners while investigating key seasonal insights. A resource for industry decision makers, from builders and developers to architects and designers, the Index keeps a pulse on consumer behavior as it relates to the home. The survey was conducted by Wakefield Research, an independent research firm commissioned by the Delta brand. Respondents are comprised of 2,000 U.S. homeowners using an email invitation and an online survey.
About Delta® Brand and Products
There is transformative power at the heart of every Delta® product. From Touch2O® Technology that turns faucets on and off with just a touch to H2Okinetic® shower technology that provides the feeling of more water without using more water, Delta® products incorporate smart thinking that anticipates people's needs. Paired with beautiful and inspirational design, the Delta® brand is more than just a faucet. A WaterSense® partner of the U.S. Environmental Protection Agency, Delta Faucet Company is a global organization offering kitchen and bath faucets, showerheads, tub and shower systems, toilets and related accessories, selling products in more than 53 countries. For more information, visit www.deltafaucet.com.
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