SEATTLE – (By Dale King, Realty News Report) – Deciding whether to move into a new home or stay where you’ve already set down roots depends largely on whether the current home meets your household’s evolving physical, financial and lifestyle requirements.
Move if you need a better location, more space or lower maintenance responsibilities. Stay if you enjoy the community ties, pay manageable costs or can spiff up your “Home Sweet Home” with basic and appealing upgrades.
The latter choice – to enhance one’s domicile with functional accoutrements –seems to be gaining popularity with homeowners across the U.S., says a recent survey commissioned by Seattle-based real estate brokerage Redfin.
The study says more than two in five (43%) Americans renovated their homes in the last year and another 33% plan to refurbish their digs in the coming year.
For many, remodeling is a deliberate alternative to seeking out a new abode. Roughly two-thirds (65%) of homeowners who are recent renovators chose to upgrade their current home instead of pulling up stakes and moving to new residential turf.
The same goes for most of the homeowners who say they’re planning to renovate in the coming year. To be exact, 71% say they’re intent on remodeling instead of buying a new dwelling.
What keeps folks from bidding farewell to a familiar domicile? Redfin says homeowners are staying put because it’s expensive to move. With high mortgage rates and home prices above the means of many potential new home purchasers, moving isn’t an affordable option for many Americans — especially when about 80% of homeowners with a mortgage have an interest rate below current levels.
Other recent Redfin research shows that while the inventory of homes on the real estate market is increasing slightly year-over-year, a shortage of desirable, move-in ready dwellings for sale — especially those considered spacious enough to accommodate a family – is keeping the market tight and limiting the selection of suitable accommodations.
Fix-ups appeal to Gen Z, millennials
Gen Z’ers and millennial homeowners are more likely than their older counterparts to remodel instead of move, with 77% of each generation saying they made improvements rather than move during the past year. Those with kids still living at home are also more likely than others to take the renovation route.
“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 square footage for a growing family or reconfiguring existing space so it will work for everyone.”
“Younger homeowners are especially likely to renovate instead of relocating to a different house. They are earlier in their homeownership journey and more willing to invest in improvements to build equity,” he said.
“Those with kids at home are often motivated to plant deeper roots where they are currently located so the youngsters can remain in the same school district and community.”
Most renovations cost under $20K
A lot of restorers are opting for meaningful improvements without busting their budget on a complete residential overhaul.
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 fairly sizable share (16%) spent between $20,000 and $50,000 on makeovers.
Painting, adding rooms, space are popular
Painting is the most popular upgrade, says the Redfin report. Nearly half (47%) of recent renovators gave their dwelling a fresh coat to make the place shine again.
Next came bathroom upgrades (43%) and kitchen improvements (40%). Exterior maintenance and landscaping are also popular, with 35% of renovators opting for those upgrades.
Climate resiliency is important to some homeowners, too. About one in seven (15%) added features to make their homes more resilient to natural disasters such as flooding, wind, fire and/or heat.
Redfin’s list goes on. New flooring can be found on the to-do agenda of 31% of folks fancying a fix-up. Heating and cooling system updates are of particular importance to 25% of respondents.
Twenty-four percent of those surveyed want to make sure the roof – a section of the home particularly vulnerable to the elements – is ship-shape. Also, 22% choose to add new spark to the home’s electrical system.
A few owners said they want more space. Nine percent plan to add a closet or closets while another 9% say they will add rooms or otherwise increase overall square footage
Equity can pay for upgrades
One way to fund renovations is with a cash-out refinance, which gives homeowners the opportunity to use the equity they’ve built up in their house to pay for upgrades.
Home improvements not only provide homeowners with the space and features they need to make their house comfortable, but they can also be financially valuable in the long run. “If you can afford it, investing time and money into making your house look and feel better can help when it comes time to sell,” said Jo Chavez, a Redfin Premier agent in Kansas City, Mo. “Updated homes tend to sell faster than fixer-uppers, and for more money.”
Note: This report is based on a Redfin-commissioned survey fielded by Ipsos in November 2025, involving some 4,000 U.S. residents.
May 2, 2026, Realty News Report Copyright 2026
Feature image: CALpix, Realty News Report photo Copyright 2026
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File: Remodeling Soars as Homeowners Stay Put