{"id":20617,"date":"2022-06-13T13:52:57","date_gmt":"2022-06-13T13:52:57","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=20617"},"modified":"2022-06-13T13:52:58","modified_gmt":"2022-06-13T13:52:58","slug":"buyers-boost-spending-on-remodeling","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/buyers-boost-spending-on-remodeling\/","title":{"rendered":"Buyers Boost Spending on Remodeling"},"content":{"rendered":"\n

Buyers Boost Spending on Remodeling<\/p>\n\n\n\n

Home buying is good for the economy. Each home purchase triggers significant spending on furnishings, appliances and remodeling.<\/p>\n\n\n\n

A recent study from the National Association of REALTORS\u00ae estimated that, in 2021, the housing market generated a median of about $113,000 in economic impact per home sale. Read more: How Home Sales Help Local Economies<\/a><\/p>\n\n\n\n

The National Association of Home Builders recently released a study documenting the economic benefit of a home sale. During the first year after closing on a house, a typical buyer of a newly built single-family detached home spends, on average, $9,250 more than a similar non-moving homeowner. A buyer of an existing single-family detached home tends to spend over $5,240 more than a similar non-moving owner, the NAHB analysis found.<\/p>\n\n\n\n

The study finds that buyers of newly built homes spend the most on property alterations and repairs following a move, despite the home being brand-new. \u201cA typical new-home buyer … is estimated to spend almost twice as much on these projects ($9,288) compared to an identical household that stays put in a house they already own,\u201d the NAHB notes on its Eye on Housing blog. Researchers say the extra spending is most common for building outdoor features, like patios, pools, walkways, fences, landscaping and various additions to the new home.<\/p>\n\n\n\n

Buyers of new homes also spent considerably more on furnishings following their move. They spent an average of $4,729 on furnishings and $4,138 on appliances following a move.<\/p>\n\n\n\n

Buyers of an existing home also tended to spend the most on property alterations and repairs following a move\u2014$7,391. (That is still below the $9,288 that new-home buyers spent.)<\/p>\n\n\n\n

\u201cIn the case of buying an older home, most of this extra spending goes to property repairs, alterations, and various remodeling projects,\u201d the NAHB notes.<\/p>\n\n\n\n

Buyers of existing homes spent $2,988, on average, on furnishings and $2,799 on appliances, also less than purchasers of new-home construction, the study finds.<\/p>\n\n\n\n

Source: <\/p>\n\n\n\n

\u201cHow a Home Purchase Boosts Consumer Spending<\/a>,\u201d National Association of Home Builders\u2019 Eye on Housing blog (June 6, 2022)<\/p>\n\n\n\n

\u00a9National Association of REALTORS\u00ae Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"

Buyers Boost Spending on Remodeling Home buying is good for the economy. Each home purchase triggers significant spending on furnishings, appliances and remodeling. A recent study from the National Association of REALTORS\u00ae estimated that, in 2021, the housing market generated a median of about $113,000 in economic impact per home sale. Read more: How Home … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-20617","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nBuyers Boost Spending on Remodeling - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/buyers-boost-spending-on-remodeling\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-boost-spending-on-remodeling\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-boost-spending-on-remodeling\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Buyers Boost Spending on Remodeling\",\"datePublished\":\"2022-06-13T13:52:57+00:00\",\"dateModified\":\"2022-06-13T13:52:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-boost-spending-on-remodeling\\\/\"},\"wordCount\":346,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-boost-spending-on-remodeling\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/buyers-boost-spending-on-remodeling\\\/\",\"name\":\"Buyers Boost Spending on Remodeling - 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