Americans are renovating their homes in increasing numbers or plan to do so in the next year, according to a new survey commissioned by Redfin.
The brokerage said that more than two in five (43%) Americans renovated their home in the past year, and another 33% said they plan to renovate in the next year.
Redfin said that for many people, renovating is a deliberate alternative to seeking out a different home.
It said that roughly two-thirds (65%) of homeowners who are recent renovators chose to upgrade their current home rather than move. For homeowners who are planning to renovate in the next year, 71% replied that they’re remodeling instead of buying a new place.
The report is based on a Redfin-commissioned survey fielded by Ipsos in November 2025 and fielded to 4,000 U.S. residents.
Redfin noted that homeowners are staying put because it is expensive to move.
High Mortgage Rates Impact Decisions
It said that with high mortgage rates and home prices, moving isn’t an affordable option for many Americans, particularly when about 80% of homeowners with a mortgage have an interest rate below current levels, according to a recent Redfin analysis. Redfin noted that other recent research shows that while housing inventory is increasing slightly on a year-over-year basis, there’s still a shortage of desirable, move-in ready homes for sale—especially those that are spacious enough for a family.
The brokerage noted that Gen Zers and millennial homeowners are more likely than than older homeowners to remodel instead of move, with 77% of each generation saying they made improvements rather than moving in the last year. Also, those with children living at home also are more likely than others to choose renovations.
“Many Americans are choosing to stay put and make the home they already have work for them,” said Chen Zhao, Redfin’s head of economics research. “That could mean improving outdated spaces, adding space for a growing family or reconfiguring the existing space so it works for everyone. Younger homeowners are especially likely to renovate instead of jumping to a different house; they’re earlier in their homeownership journey and more willing to invest in improvements to build equity. Those with kids living at home are often motivated to plant deeper roots where they are so they can stay in the same school district and community.”
Renovators Not Busting Their Budgets
Redfin noted that a lot of renovators are opting for meaningful improvements without busting their budget on a complete remodel.
It said that roughly a quarter (23%) of people who renovated their home in the last year spent between $10,000 and $20,000 on improvements; the next-most common price tags were $1,000 to $5,000 (21% of recent renovators) and $5,000 to $10,000 (20%).
A large share share (16%) spent between $20,000 and $50,000 on renovations, Redfin said.
The brokerage noted that painting is the most popular upgrade; nearly half (47%) of recent renovators gave their home a fresh coat of paint. Next are bathroom (43%) and kitchen (40%) improvements, Redfin noted. Exterior maintenance and landscaping also are popular, with 35% of renovators opting for those upgrades.
Climate resiliency is important to some homeowners, too: Redfin said that about one in seven (15%) added features to make their homes more resilient to natural disasters such as flooding, wind, fire and/or heat.
One way to fund renovations is with a cash-out refinance, Redfin said, which allows homeowners to use the equity they’ve built up in their house to pay for upgrades.
