home repairs

Expect the Unexpected: Green Upgrades and Home Repair Costs

Late last year, we leveraged our National Housing Survey® to ask homeowners about their interest in “green” home improvements, as well as the financial costs associated with making home repairs generally. With environmental concerns and energy efficiency increasingly top of mind for many, we wanted to better understand consumers’ interest in installing solar panels or making other energy-efficiency improvements, particularly if the costs of doing so were included in their mortgage balance.

Our survey identified a significantly higher level of interest among younger homeowners in green home improvements, with their interest particularly pronounced for projects such as solar panel installation

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Home improvement spending to soften over next year

Growth in home renovation spending is expected to soften next year as fewer property owners fix up their homes in preparation for sale, the latest report from the Joint Center for Housing Studies of Harvard University said.

The study forecasts that year-over-year gains will slow to 10.1% by the end of the first half of 2023 from 15.9% for the just-ended second quarter and 17.4% by the end of this year. However, this year’s pace of growth was well ahead of what the JCHS expected last July as that Leading Indicator of Remodeling Activity report predicted annual growth of 8.2%

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Younger Homeowners More Likely to Make Green Home Improvements

Late last year, Fannie Mae leveraged their National Housing Survey to ask homeowners about their interest in “green” home improvements, as well as the financial costs associated with making home repairs. With environmental concerns and energy efficiency increasingly top of mind for many, Kevin Tillmann, Market Research Senior Associate, National Housing Survey, wanted to better understand consumers’ interest in installing solar panels or making other energy-efficiency improvements, particularly if the costs of doing so were included in their mortgage balance.

The survey identified a significantly higher level of interest among younger homeowners in green home improvements, with their interest

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Use Your Online Calendar to Manage Your Home Repairs

It’s the little things that keep your home together. I know. That sounds hyperbolic. However, by repairing that leaky faucet, cleaning your gutters, and weatherstripping your windows, you can prevent more significant problems, such as severe water damage.



Calendar – Calendar

Simple maintenance, beyond checking that everything works, can also extend the life of your appliances and systems that maintain your home. You can also save money by performing regular maintenance. Additionally, it reduces the threat to your family’s safety.

A survey by the real estate marketplace Zillow found that 75% of pandemic-era homebuyers regretted their decision. The

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Homeowners delay big purchases, improvement projects due to inflation

For homeowners, big projects and purchases may be another casualty of rampant inflation, new research suggests.

Overall, 60% of homeowners in a recent survey are less comfortable making large purchases for their home or household because of rising prices, according to Hippo Insurance’s 2022 Homeowner Preparedness Report. And nearly 43% either strongly (14.4%) or somewhat (28.4%) agree that inflation has caused them to delay planned home improvement or maintenance projects.

The poll used to generate the study was conducted April 29 to May 1 among 1,915 U.S. adults, by Ipsos on behalf of Hippo.

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November 2023
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