Every Third Home Buyer Plans to Renovate – Kitchens Top the List
27 November 2024
35% of home buyers plan to renovate their new home or vacation house within the next 12 months, with a new kitchen being at the top of their wishlist. This is revealed by a new survey from Hemnet, which included a total of 3,627 respondents.
Among all participants, 38% indicated plans to buy a home or vacation property within the next year. Of this group, 35% further stated they intend to renovate their future property.
"For many, the home holds great significance, and people often want to put their personal touch on their new property. At the same time, it’s interesting that one in three buyers plans to renovate despite a challenging economic environment for many. Likely, expectations of lower interest rates and potentially higher property prices play a role," says Staffan Tell, spokesperson at Hemnet.
Kitchens Top the Wish List for DIY Enthusiasts
Among those planning to renovate, a striking 58% aim to remodel the kitchen, followed by 52% planning bathroom renovations, and 50% intending to paint or wallpaper interiors.
Home Buyers Willing to Spend Big
The survey also highlights a significant difference in planned renovation budgets depending on whether respondents plan to buy a property. Among those planning a purchase, 15% intend to spend over SEK 1 million on renovations, compared to just 3% of those not planning to buy.
"Over the past decades, the DIY trend has been strong, and rising property prices have made home renovations economically rational. However, it’s important to consider the sustainability aspect, and buyers should explore options for reuse and assess whether, for instance, the kitchen truly needs an immediate upgrade or could last a few more years," adds Staffan Tell.
| Do you plan to renovate your future home or vacation house within 12 months of moving in? | Planning to Buy | Not Planning to Buy |
| Yes | 35% | 13% |
| No | 36% | 58% |
| Unsure | 29% | 29% |
| What do you plan to renovate? | Planning to Buy | Not Planning to Buy |
| Kitchen | 58% | 26% |
| Bathroom | 52% | 23% |
| Painting/Wallpapering | 50% | 32% |
| Expansion/Extension | 18% | 19% |
| Roof/Façade | 26% | 30% |
| Other | 33% | 25% |
| How much do you plan to spend on renovations in the next 12 months? | Planning to Buy | Not Planning to Buy |
| Up to SEK 50 000 | 13% | 21% |
| SEK 50 001 - 200 000 | 32% | 50% |
| SEK 200 001 - 500 000 | 26% | 18% |
| SEK 500 001 - 1 miljon | 13% | 7% |
| SEK Over 1 million | 15% | 3% |
About the Survey
The survey was conducted on hemnet.se between October 15 and 20, with a total of 3,627 respondents.
For more information, please contact:
Press enquiries
Staffan Tell, Head of PR
M: +46 733 67 66 85
E: [email protected]
Erik Holmberg, market analyst
M: +46 72-55 88 050
E: [email protected]
About Hemnet
Hemnet operates the leading property platform in Sweden. The company emerged as an industry initiative in 1998 and has since transformed into a "win-win" value proposition for the housing market. By offering a unique combination of relevant products, insights and inspiration, Hemnet has built lasting relationships with buyers, sellers, and agents for more than 20 years. Hemnet shares a mutual passion for homes with its stakeholders and is driven by being an independent go-to-place for people to turn to for the various housing needs that arise through life. This is mirrored in the company’s vision to be the key to your property journey, supplying products and services to improve efficiency, transparency and mobility on the housing market. Hemnet is listed on Nasdaq Stockholm (‘HEM’).
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