There is so little new construction inventory. Many people are buying older homes and retrofitting them to make them perfect for their families. Therefore, many new homeowners are investing in upgrades and replacements.

Top Home Improvement projects for 2020

  • Bathroom Remodeling
  • Kitchen Remodeling
  • Closet Overhauls
  • Accessibility Remodeling
  • Master Bedroom Suites
  • Mudroom Additions
  • Eco-Friendly Remodels
  • Luxury Finished Basements
  • Smart Home Technology & Automation

Home Improvement Spending by New Homeowners

In terms of Home Improvements, new homeowners who bought new homes / new construction spent almost as much ($3,729) as buyers of existing homes ($4,085). They also outspent non-moving, existing homeowners ($2,232) on property alterations and repairs.

However, the specific types of remodeling projects are quite different across the groups. No surprises here. Marketers can select resale buyers from the new homeowner database. New Homeowner buyers of resale homes and existing homeowners spend more on repairs and replacements than new construction buyers.

Resale new homeowners also outspend new home buyers on kitchen/bathroom additions or remodeling. Other big purchases include HVAC, electrical and security systems, paneling, flooring, siding, windows and doors.

This means that companies who sell these types of home improvement products should market to buyers of resale homes. The best way to do this is selecting resale new homeowner transactions using the Dataman New Homeowner database.

Interestingly, when it comes to outside additions and alterations, including a new driveway, walk, or fence, new home buyers outspend existing home buyers and non-moving owners by far.

Through the study, we know that existing homeowners spend more on repairs and replacements than new homeowners. Certainly, businesses that specialize in roofing and HVAC replacement should market to existing homeowners on an on-going basis.

New Homeowner Database for Home Improvement Companies