According to NAHB’s most recent Remodeling Market Index (RMI), a desire for better or newer amenities was named as the top reason why customers chose to remodel their homes.
Other popular reasons for a remodeling project include the need to repair or replace old components, and the desire or need for more space. Others also opt for remodeling over moving to a new home.
The least common reason given was getting a property ready for REO, short, or other distressed sale.
PB Topical Ref
