Kitchen and Bath Remodeling Plans Reported by 10% of Affluent Consumers

In a modern study of affluent consumers who characterize the 11.4 million households that catalogue for about half of all buyer spending, the American Affluence research center found that 8% of the affluent consumers definitely plan a major kitchen remodeling while the next 24 months and 11% definitely plan a master bathroom remodeling project.

The kitchen remodeling plans characterize a potential store of 912,000 households, and the bathroom remodeling plans characterize a potential store of 1,254,000 households. The undecideds (i.e. Those who are not sure) characterize a potential store approximately duplicate that of the specific remodelers.

Bath Remodeling

Plans for an estimated 1.7 home remodeling projects of some type while the next 12 months were reported by the affluent consumers, who catalogue for 10% of all Us households, based on net worth.

About 62% of the affluent have no plans to procure any of the kitchen and bathroom items listed. About 10% to 15% of the affluent plan to procure at least one of the items, with the exception of the kitchen floors and water sufficient fixtures and heaters. Less than 10% reported plans for these three items. Each 1% equals approximately 114,000 potential unit sales.
A originate master was named most often as the original source for most of the purchases for a major kitchen or bathroom remodeling project. Home Depot, followed by Lowe's, was the second most oftentimes named source.

Among those who definitely plan to remodel their kitchen or master bathroom while the next 24 months, the items they plan to purchase often vary based on the current value of their home. For example, 63% of those with homes valued below million plan to procure new kitchen floors while only 31% of those with homes valued above million plan to do so as part of their kitchen remodeling project.

As an average, approximately ,000 is the most the respondents who definitely plan to remodel their kitchen could imagine spending. approximately ,000 is the most the respondents who definitely plan to remodel their bathroom could imagine spending. Both amounts are very close to the midpoint cost estimated in a study of dealers by Kitchen&Bath originate News.

Age of room appears to be a useful indicator of when people are a good expectation for remodeling their kitchen or bathroom.

Kitchen and Bath Remodeling Plans Reported by 10% of Affluent Consumers