The small home improvements survey covers renovations and improvements made by homeowners for projects that are not major renovations done in 2023 and planned for 2024. 17,002 homeowners across the country took the survey in January 2024.
Updated: August 19, 2024
Homeowners small improvements plans
| Updating lighting fixtures | 41% |
| Painting interiors | 38% |
| Painting exteriors | 33% |
| Installing/replacing flooring | 31% |
| Installing new windows | 31% |
| Adding storage | 31% |
| Adding or doing deck or patio | 26% |
| Updating HVAC system | 26% |
| New front door | 25% |
| New water heater | 19% |
| Upgrading electrical wiring | 18% |
| Installing security system | 17% |
| Adding solar panels | 16% |
| Adding insulation | 15% |
| Installing new siding | 14% |
| Redoing roof | 11% |
| Updating some plumbing | 11% |
| Adding fireplace | 9% |
Source: MFP’s Small Home Improvements Survey
Analyzing the small improvements data provide insights into homeowners’ priorities when it comes to small improvements:
- Focus on Aesthetics: The highest percentage of homeowners are investing in aesthetic upgrades, with updating lighting fixtures (41%) and painting interiors (38%) being the most popular. This suggests that many homeowners prioritize visual appeal and ambiance.
- Exterior Appeal Matters: A significant portion is also focusing on exterior improvements, such as painting exteriors (33%) and adding or upgrading their deck or patio (26%). This indicates a strong interest in enhancing curb appeal and outdoor living spaces.
- Functional Upgrades: Practical improvements like installing/replacing flooring (31%), new windows (31%), and updating HVAC systems (26%) are also high on the list. These upgrades can improve comfort, energy efficiency, and potentially increase the home’s value.
- Energy Efficiency & Security: Although lower on the list, there’s still notable interest in energy efficiency (solar panels, 16%; adding insulation, 15%) and security (installing a security system, 17%). These are more specialized investments that some homeowners prioritize.
- Less Common Upgrades: Improvements like redoing the roof (11%), upgrading electrical wiring (18%), and updating plumbing (11%) are less frequently undertaken, likely because they can be more costly or are seen as necessary only when issues arise.
- Desire for Comfort & Luxury: While not as common, adding a fireplace (9%) reflects a desire for comfort and luxury, which appeals to a smaller segment of homeowners.
Overall, the data highlight a mix of aesthetic, functional, and practical improvements that homeowners are willing to small investments in, with a clear emphasis on enhancing both the look and functionality of their living spaces.
Homeowners Small improvement Spending
| Spending | Percentage |
| $8,000- $12,000 | 12% |
| $5,000-$8,000 | 32% |
| $2,000-$5,000 | 27% |
| Less than $2,000 | 29% |
Source: MFP’s Small Home Improvements Survey
The data give an insights into how much homeowners are willing to invest in small ways in upgrading their homes:
- Moderate Spending Dominates: The largest group of homeowners (32%) is spending between $5,000 and $8,000 on small improvements. This suggests that a significant portion of homeowners are willing to make a moderate investment to achieve noticeable upgrades without breaking the bank.
- Budget-Friendly Improvements: A combined 56% of homeowners are spending less than $5,000 on improvements (29% spending less than $2,000 and 27% spending between $2,000 and $5,000). This indicates that many homeowners are either focusing on smaller, more affordable projects or making incremental improvements over time.
- Higher-End Investments: A smaller portion (12%) of homeowners is investing between $8,000 and $12,000 in small improvements. These homeowners may be tackling more extensive projects or opting for higher-end materials and finishes, reflecting a willingness to spend more for quality or significant upgrades.
- Diverse Spending Preferences: The spread across different spending ranges suggests that homeowners have diverse priorities and budgets. Some may prioritize more significant renovations, while others focus on smaller, more manageable updates that can still enhance their home’s value and comfort.
The spending statistics reveal that while most homeowners are cautious with their budgets and will do small upgrades, a considerable number are willing to invest a bit more to achieve their desired improvements. The data suggests a balanced approach, with many homeowners aiming to get the most value out of their spending on small home upgrades.
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