Summary of Research Findings

An online survey was conducted in May 2024 to a total of 1,200 men and women at their age over twenty, who purchased preowned properties (detached house or apartment) in the last ten years (2014-2024). Based on the questionnaire asking where they had remodeled and attributes of their properties, we analyzed the current status and trends of home renovation by homeowners of preowned properties. This press release announces some of our findings.

Of 800 respondents who remodeled their pre-owned properties after the purchase (including properties that had been renovated by sellers), 55.5% remodeled “toilet”, 54.1% did “walls & ceiling” makeover, 49.9% renovated “flooring” (wood, tatami, carpet, etc.), 48.6% remodeled “kitchen”, 46.9% renovated “bathroom (bathtub, bath module)”, and 43.4% replaced “bathroom sink (bathroom vanity)”. To the question asking about how much they spent on home renovation, the response option chosen the most was “1M yen to less than 2M yen” (22.1%), followed by “0.5M yen to less than 1M yen” (14.9%) and “2M yen to less than 3M yen” (13.6%).

The survey revealed that homeowners of preowned properties renovate areas that require professional plumber (bathroom and kitchen) and do makeovers of walls, flooring, and ceilings, at a total of one to three million yen. We estimate the average home renovation budget at three million yen.

Noteworthy Topics

Seven out of Ten Owners of Preowned Properties Intend to Remodel Their Homes

When we asked all survey respondents (1,200) about their intentions to renovate their homes in the future, 14.3% said they “want to remodel”, and 53.6% said they “may remodel depending on the situation”. A total of the numbers indicates that 67.9% are willing to renovate their homes.

Additionally, when we asked the 815 respondents that indicated willingness to remodel their homes about the drivers for home remodeling (multiple answers), the most common answer was “deterioration over time” (57.4%).

The survey results did not show a significant difference in the demands for home renovation between the homeowners of preowned houses and general consumers. Meanwhile, whilst it is generally said that residential properties require fixing in an interval of ten years (10, 20, and 30 years), the majority of the homeowners of preowned houses said they have no concrete plan as to when they will conduct the renovation. Although they do wish to update their homes when its functionality and/or appearance becomes outdated, the timing may not necessarily be in the conventional ten-year intervals.

Research Outline