home renovation pulse report
DESCRIPTION
We pay attention to our customers’ preferences, and that’s why we’ve analyzed the data they produce by using our tools, and come to some conclusions about the industry that we want to share.The Home Renovation Pulse report highlights trends on spending, popular finish levels, average project costs, and what users are building in different geographic locations.We believe this data can be used in a number of ways – manufacturers of home renovation materials can gain insight into what consumers want, industry journalists can find figures and story material, and loan officers can gain a better idea of what popular projects cost in different areas.Visit Kukun's Website: http://mykukun.com/Read Kukun's Blog: http://mykukun.com/category/blog/TRANSCRIPT
THE PULSE
The Home Renova1on Pulse Report
Nov 2015All rights reserved. Kukun, Inc. November 2015
All rights reserved. Kukun, Inc. November 2015
Kukun is transforming the home renova2on industry by bringing it online. Kukun provides
homeowners tools to es2mate the cost of their renova2on projects and learn how they will impact
the value of a home.
Homeowners have tried our tools, and es2mated a wide variety of projects since our so> launch in
February 2015. Kukun’s Home Renova2on Pulse Report is an analysis of this massive amount of
user-‐generated data which enable us to an2cipate home renova2on trends, and can poten2ally
benefit mul2ple stakeholders, including those who report on the industry, manufacturers, retailers,
and banks that o>en finance renova2on projects.
The report includes informa2on on spending trends, desired finish levels, average project costs, and
popular projects by state. For more informa2on, send us a note at [email protected].
The Kukun Data Team
Introduc1on
# of Projects
88%
12%
Addi=on Remodeling
Total Es1mated Cost
81%
19%
Addi=on Remodeling
OverviewAbout 88% of the projects
es=mated using Kukun’s tools are
remodeling projects..
While the propor=on of addi=on
and remodeling projects remain
same compared to the last quarter,
we observed an increase of 8% in
spending on addi=on projects
All rights reserved. Kukun, Inc. November 2015
# of Projects
27%
6%8%
9%23%
26%
Full Bathroom Bedrooms KitchenGarage Half Bathroom Other*
Total Es1mated Cost
29%
7%
12% 13%
18%
21%
Bedrooms Full Bathroom GarageKitchen Great Room Other*
Addi1ons
* for more informa=on on project types, visit www.mykukun.com
Of the addi2on projects es2mated using
Kukun's tools, bedrooms and bathrooms are
the most popular. These two projects make
up 50% of the total addi2ons es2mated.
Based on Kukun’s Projected Home Value
algorithm, adding a bathroom or a bedrooms
has a greater ROI than adding a sun room,
great room, or family room.
All rights reserved. Kukun, Inc. November 2015
# of Projects
28%
4%6%
16%21%
25%
Kitchen Full Bathroom BedroomsLiving Room Dining Room Other*
Total Es1mated Cost
15%3%3%
4%
15% 61%
Kitchen Full Bathroom BedroomsGreat Room Living Room Other*
Renova1ons
* for more informa=on on project types, visit www.mykukun.com
For remodeling projects, kitchens, bathrooms, and
bedrooms are the most popular. These projects
cons2tute more than 60% of the remodeling projects
configured with Kukun.
Although commonly lauded as a popular renova2on
project with a posi2ve ROI, the number of Kukun
users es2ma2ng window replacement projects was
surprisingly low. Only 3% of the projects were
window replacement.
The expense on Kitchen has increased from 38% to
61% compared to August.
All rights reserved. Kukun, Inc. November 2015
Frac%on of Addi%on Projects (%)Pool Room
Guest House with Kitchen
Game Room
Home Theater
Hallways/Common Areas
Full Bathroom
Family Room
Dining Room
Great Room
Half Bathroom
Bedrooms
Kitchen
Entryway/Foyer
Sunroom
Garage
Living Room
Guest House0% 2% 4% 6% 8% 10% 12% 14% 16%
Best BeZer Good
Finish Level Addi1onsTotal Es%mated Cost ($)
Pool Room
Guest House with Kitchen
Game Room
Home Theater
Hallways/Common Areas
Full Bathroom
Family Room
Dining Room
Great Room
Half Bathroom
Bedrooms
Kitchen
Entryway/Foyer
Sunroom
Garage
Living Room
Guest HouseUS$ 0 US$ 10,00,000 US$ 20,00,000 US$ 30,00,000 US$ 40,00,000 US$ 50,00,000 US$ 60,00,000
Best BeZer Good
Using our tools, people can choose 3 different finish levels for their projects-‐
Good, BeZer, and Best. People are usually looking for BeZer
finish levels for their projects indica=ng a strong trend of home owner’s seeking for a trade-‐off between amount spent and quality*.
Except for Kitchen and Pool room, intermediate finish levels are preferred
for all the projects.
* for more informa=on on finish levels, visit www.mykukun.comAll rights reserved. Kukun, Inc. November 2015
Frac%on of Renova%on Projects (%)Pool Room
Game Room
Home Theater
Hallways/Common Areas
Full Bathroom
Entryway/Foyer
Family Room
Dining Room
Half Bathroom
Bedrooms
Great Room
Kitchen
Window Replacement
Guest House with Kitchen
Garage
Living Room
Guest House
Sunroom0% 2% 4% 6% 8% 10% 12% 14%
Best BeZer Good
Finish Level Renova1onsTotal Es%mated Cost ($)
Pool Room
Game Room
Home Theater
Hallways/Common Areas
Full Bathroom
Entryway/Foyer
Family Room
Dining Room
Half Bathroom
Bedrooms
Great Room
Kitchen
Window Replacement
Guest House with Kitchen
Garage
Living Room
Guest House
SunroomUS$ 0 US$ 2,00,00,000 US$ 4,00,00,000 US$ 6,00,00,000 US$ 8,00,00,000 US$ 10,00,00,000
Best BeZer Good
Similar to addi=on, for remodeling also, beZer is the most preferred finish level for home owners as it gives trade-‐off between money spent and quality.
* for more informa=on on finish levels, visit www.mykukun.comAll rights reserved. Kukun, Inc. November 2015
Guest House with KitchenGreat RoomPool Room
Guest HouseKitchen
Game RoomHome Theater
GarageSunroom
Family RoomInstall a Wood Deck
Full BathroomDining RoomLiving Room
Window ReplacementBedrooms
Hallways/Common AreasInstall Air Condi=oning
Repipe House Water Supply LinesReplace FurnaceEntryway/FoyerHalf Bathroom
Install Can Ligh=ngInstall Entry Door
Remove Popcorn Ceiling TextureUpgrade Electrical Panel
Replace Hot Water Heater
US$ 0 US$ 10,000US$ 20,000US$ 30,000US$ 40,000US$ 50,000US$ 60,000US$ 70,000US$ 80,000US$ 90,000
US$ 1,237US$ 1,501US$ 1,940US$ 2,034US$ 2,688US$ 2,927US$ 3,152US$ 3,226US$ 3,351
US$ 6,084US$ 9,389US$ 9,573US$ 10,207US$ 10,478US$ 11,594
US$ 15,977US$ 18,543US$ 19,432US$ 19,620
US$ 27,121US$ 31,341
US$ 41,505US$ 52,271
US$ 56,056US$ 66,991
US$ 69,407US$ 82,773
Renova1ons
Guest Houses with Kitchens are the most expensive projects. This is
followed by Great room, Guest House, Pool room, and Kitchen. These projects cost more than 50,000$ on average. Bedroom, Bathroom, Kitchen, the
three most popular projects approximately cost around 9k$, 16k$
and 52k$ respec=vely.
All rights reserved. Kukun, Inc. November 2015
% OF PROJECTS
0%
7.5%
15%
22.5%
30%
CA TX FL NYWA GA NJ PA MI MA NC VA IL OH IN AL MDCOMOOR LA TN KY AZ OKMN AR KS IA CT WI UT SC RI NV MS NH DCWV Mt ID MENM HI WY VT AK SD DE NE ND
State Distribu1on
% OF TOTAL ESTIMATED COST
0%
5%
10%
15%
20%
CA TX FL NYWA GA NJ PA MI MA NC VA IL OH IN AL MDCOMOOR LA TN KY AZ OKMN AR KS IA CT WI UT SC RI NV MS NH DCWV Mt ID MENM HI WY VT AK SD DE NE ND
California state has the most renova=on projects followed by Texas, Florida and New York. These cons=tute
around 45% of our projects.
All rights reserved. Kukun, Inc. November 2015
% OF PROJECTS
0%
7.5%
15%
22.5%
30%
SAN FRA
NCISC
ONEW
YORK
PORT
LAND
SAN JO
SEAT
LANTA
HOUST
ON
SEAT
TLE
LOS ANGEL
ESSA
N M
ATEO
MIAMI
DEN
VER
MEN
LO PARK
AUST
INMOUNTA
IN VIEW
DALLAS
WASH
INGTO
NCH
ARL
OTT
EBR
OOKL
YNSU
NNYV
ALE
PALO
ALTO
SAN ANTO
NIO
PHILADEL
PHIA
SAN DIEGO
JACK
SONVILLE US
CHICAG
OCO
LUMBU
SPH
OEN
IXORL
ANDO
SAINT LO
UIS
CUPE
RTINO
OAKL
AND
ARL
INGTO
NLO
UISVILLE
BEVER
LY HILLS
WES
T PA
LM BEA
CHINDIANAPO
LIS
RALE
IGH
POMPA
NO BEA
CHLITT
LETO
NLITT
LE ROCK
LOS ALTOS
FALLS CH
URC
HOKL
AHOMA CITY
TAMPA
CINCINNAT
ILA
FAYE
TTE
KANSA
S CITY
MADISON
WILMINGTO
NLO
NG BEA
CHRICH
MOND
JACK
SON
BELLEV
UE
BIRM
INGHAM
MET
AIRIE
STANFO
RDBO
CA RAT
ON
MOBILE
SPRING
GRE
ENVILLE
BATO
N ROUGE
FORT
LAU
DER
DALE
RACINE
REDWOOD CITY
Portland
SAVA
NNAH
SAINT PE
TERS
BURG
MIAMI B
EACH
BOST
ON
DEC
ATUR
ERIE
PARIS
NAPL
ESMARIET
TAHOLLYW
OOD
BELM
ONT
FAYE
TTEV
ILLE
SANTA
CLA
RASA
INT PA
UL
SPRINGFIEL
DSA
LT LAKE
CITY
ROANOKE
BEDFO
RDFO
RT W
ORT
HFE
RNANDINA BE
ACH
JERS
EY CITY
NEW
ORL
EANS
ROCH
ESTE
RSA
N CARL
OS
BOTH
ELL
BALTIM
ORE
CONCO
RDSA
NTA
ROSA
DET
ROIT
POUGHKE
EPSIE
SUGAR LA
ND
CHARL
OTT
ESVILLE
MINNEA
POLIS
CHARL
ESTO
N
City Distribu1on
TOTAL ESTIMATED COST
US$ 0
US$ 22,50,000
US$ 45,00,000
US$ 67,50,000
US$ 90,00,000
SAN FRA
NCISC
ONEW
YORK
PORT
LAND
SAN JO
SEAT
LANTA
HOUST
ON
SEAT
TLE
LOS ANGEL
ESSA
N M
ATEO
MIAMI
DEN
VER
MEN
LO PARK
AUST
INMOUNTA
IN VIEW
DALLAS
WASH
INGTO
NCH
ARL
OTT
EBR
OOKL
YNSU
NNYV
ALE
PALO
ALTO
SAN ANTO
NIO
PHILADEL
PHIA
SAN DIEGO
JACK
SONVILLE US
CHICAG
OCO
LUMBU
SPH
OEN
IXORL
ANDO
SAINT LO
UIS
CUPE
RTINO
OAKL
AND
ARL
INGTO
NLO
UISVILLE
BEVER
LY HILLS
WES
T PA
LM BEA
CHINDIANAPO
LIS
RALE
IGH
POMPA
NO BEA
CHLITT
LETO
NLITT
LE ROCK
LOS ALTOS
FALLS CH
URC
HOKL
AHOMA CITY
TAMPA
CINCINNAT
ILA
FAYE
TTE
KANSA
S CITY
MADISON
WILMINGTO
NLO
NG BEA
CHRICH
MOND
JACK
SON
BELLEV
UE
BIRM
INGHAM
MET
AIRIE
STANFO
RDBO
CA RAT
ON
MOBILE
SPRING
GRE
ENVILLE
BATO
N ROUGE
FORT
LAU
DER
DALE
RACINE
REDWOOD CITY
Portland
SAVA
NNAH
SAINT PE
TERS
BURG
MIAMI B
EACH
BOST
ON
DEC
ATUR
ERIE
PARIS
NAPL
ESMARIET
TAHOLLYW
OOD
BELM
ONT
FAYE
TTEV
ILLE
SANTA
CLA
RASA
INT PA
UL
SPRINGFIEL
DSA
LT LAKE
CITY
ROANOKE
BEDFO
RDFO
RT W
ORT
HFE
RNANDINA BE
ACH
JERS
EY CITY
NEW
ORL
EANS
ROCH
ESTE
RSA
N CARL
OS
BOTH
ELL
BALTIM
ORE
CONCO
RDSA
NTA
ROSA
DET
ROIT
POUGHKE
EPSIE
SUGAR LA
ND
CHARL
OTT
ESVILLE
MINNEA
POLIS
CHARL
ESTO
N
All rights reserved. Kukun, Inc. November 2015
Bedrooms
Dining RoomFamily Room
Full BathFull BathroomGame Room
Garage
Great RoomGuest House
Guest House with KitchenHalf Bathroom
Hallway-‐Common areas
Hallways/Common AreasHome Theater
Home Theater RoomInstall Air Condi=oning
Install Entry DoorKitchen
Living RoomPool Room
Repipe House Water Supply LinesReplace Hot Water Heater
SunroomWindow Replacement
0 27 53 80 107 133 160
84%73%
97%81%
27%92%
83%49%51%
80%80%
116%150%
78%142%
150%66%
52%94%
88%75%
93%98%
67%
Return on Investment (ROI)
All rights reserved. Kukun, Inc. November 2015
California
Florida
New York
Texas
0% 20% 40% 60% 80% 100%
36%
35%
46%
88%
83%
88%
82%
95%
70%
75%
76%
71%
59%
90%
67%
Bedroom Full Bath Kitchen Garage
StateWise Return on Investment
All rights reserved. Kukun, Inc. November 2015
KUKUN TRENDS
All rights reserved. Kukun, Inc. August 2015
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Kitchen Living RoomBedrooms Family RoomWindows Replacement Full Bath
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Kitchen Living RoomBedrooms Family RoomWindows Replacement Full Bath
www.mykukun.com
Kukun Data Team
Popular Renova2on Projects
www.mykukun.com
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Sunroom Half BathroomDining Room Great RoomGame Room GarageHome Theater Room
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10Home Theater Room GarageGame Room Great RoomDining Room Half BathroomSunroom
Kukun Data Team
Room Renova2on
www.mykukun.com
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Windows ReplacementInstall A Wood DeckInstall Entry Door
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Install Entry DoorInstall A Wood DeckWindows Replacement
Kukun Data Team
Exterior Projects
www.mykukun.com
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Install Air Condi2oningReplace Hot Water HeaterReplace FurnaceInstall Can Ligh2ngRepipe House Water Supply LinesUpgrade Electrical Panel
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Install Air Condi2oningReplace Hot Water HeaterReplace FurnaceInstall Can Ligh2ngRepipe House Water Supply LinesUpgrade Electrical Panel
Kukun Data Team
Energy Efficient Projects
www.mykukun.com
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Half Bathroom GarageFamily Room KitchenBedrooms Full Bath
Interest
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Half Bathroom GarageFamily Room KitchenBedrooms Full Bath
Kukun Data Team
Popular Addi2on Projects
www.mykukun.com
Average Project C
ost
0$
7,500$
15,000$
22,500$
30,000$
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Windows Replacement Family Room BedroomsLiving Room Kitchen Full Bath
Kukun Data Team
Average Cost -‐ Popular Renova2on Projects
www.mykukun.com
Average Project C
ost
0$
20,000$
40,000$
60,000$
80,000$
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Sunroom Guest HouseHalf Bathroom Dining RoomGreat Room Game RoomGarage
Kukun Data Team
Average Cost -‐ Popular Room Projects
www.mykukun.com
Average Project C
ost
0$
7,500$
15,000$
22,500$
30,000$
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Install Entry DoorInstall A Wood DeckWindows Replacement
Kukun Data Team
Average Cost -‐ Exterior Projects
www.mykukun.com
Average Project C
ost
0$
4,000$
8,000$
12,000$
16,000$
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Install Air Condi2oning Replace Hot Water HeaterReplace Furnace Hallway-‐Common areasInstall Can Ligh2ng Repipe House Water Supply LinesUpgrade Electrical Panel Entryway-‐Foyer
Kukun Data Team
Average Cost -‐ Energy Efficient Projects
www.mykukun.com
Average Project C
ost
0$
15,000$
30,000$
45,000$
60,000$
2015
-‐04
2015
-‐05
2015
-‐06
2015
-‐07
2015
-‐08
2015
-‐09
2015
-‐10
Half Bathroom GarageFamily Room KitchenBedrooms Full Bath
Kukun Data Team
Average Cost -‐ Room Addi2ons
www.mykukun.com
Interest
California Texas New York Florida Washington
Full Bath Windows Replacement Family RoomBedrooms Living Room Kitchen
Kukun Data Team
StateWise Popular Renova2on Projects
www.mykukun.com
Average Project c
ost
0$
12,500$
25,000$
37,500$
50,000$
California Texas New York Florida Washington
Full Bath Windows ReplacementFamily Room BedroomsLiving Room Kitchen
Kukun Data Team
StateWise Renova2on Costs -‐ Popular Projects
www.mykukun.com
Average Project c
ost
0$
10,000$
20,000$
30,000$
40,000$
California Texas New York Florida Washington
Windows Replacement Install A Wood Deck Install Entry Door
Kukun Data Team
StateWise Exterior Project Costs
www.mykukun.com
Average Project c
ost
0$
1,750$
3,500$
5,250$
7,000$
California Texas New York Florida Washington
Install Air Condi2oning Replace Hot Water HeaterReplace Furnace Install Can Ligh2ngRepipe House Water Supply Lines Upgrade Electrical Panel
Kukun Data Team
StateWise Energy Efficient Project Costs
www.mykukun.com
Average Project c
ost
0$
17,500$
35,000$
52,500$
70,000$
California Texas New York Florida Washington
Full Bath Bed Rooms Family RoomGarage Half BathRoom Kitchen
Kukun Data Team
StateWise Room Addi2on Costs