More Americans are choosing to renovate their homes instead of relocating, boosting home improvement spending to $790 billion annually—a 60% increase from 2019 spending.
A new report from Instant Roofer, using data from the U.S. Census American Housing Survey, reveals that Denver is the metropolitan area where homeowners spend the most on renovations.
Denver homeowners spend $14,200 annually on home improvements, according to the report.
“Denver has seen a significant rise in remote work opportunities over the past few years, naturally driving residents to invest more in their homes,” said Jacob Petrosky, Instant Roofer founder.
“When you’re working from home all day, you want it to be a nice space to be in, and of course, you need that proper home-office setup.”
Denver homeowners spend more than four times the national average per household—$900 compared to $200—on room conversions.
They also spend money on porches, decks, and new windows and doors, mainly due to the extra stress caused by temperature fluctuations.
Following Denver, homeowners in Washington, D.C., and Seattle spend $14,000 and $13,300 annually on home improvements, respectively.
Managing renovation costs
Home renovation costs skyrocketed this year due to rising tariffs and supply chain challenges, but the experts at Highland Cabinetry say homeowners can still complete upgrades affordably.
They recommend making strategic choices such as prioritizing minor kitchen and bathroom remodels, choosing domestic materials, and investing in energy-efficient features.
Investing in energy-efficient upgrades can produce long-term savings.
According to the U.S. Department of Energy, replacing outdated windows with energy-efficient models can reduce household energy bills by an average of 13%.
This improvement not only enhances comfort but also increases the home’s value.
Highland Cabinetry also recommends doing the work yourself whenever you can.
Hiring professionals can quickly raise costs, but handling some projects yourself can save money.
For instance, painting a room usually costs between $400 and $1,600, depending on size and ceiling height. By painting it yourself, you can avoid labor costs, which are a significant part of the total expense.
Proper planning is vital for a successful home renovation.
However, many homeowners underestimate the value of detailed planning, which can lead to unexpected costs and delays.
To avoid unforeseen expenses, it’s vital to establish a clear budget, obtain multiple quotes, and stick to your plan.
The news and editorial staffs of The Denver Post had no role in this post’s preparation.
