THE PULSE
The Home Renova1on Pulse Report
Nov 2015
All rights reserved. Kukun, Inc. November 2015
Introduc1on
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
All rights reserved. Kukun, Inc. November 2015
Overview
# of Projects
Total Es1mated
Cost
About 88% of the projects
12%
es=mated using Kukun’s tools are
19%
remodeling projects..
While the propor=on of addi=on
and remodeling projects remain
88%
same compared to the last quarter,
81%
we observed an increase of 8% in
spending on addi=on projects
Addi=on
Remodeling
All rights reserved. Kukun, Inc. November 2015
Addi=on
Remodeling
Addi1ons
# of Projects
Of the addi2on projects es2mated using
Total Es1mated
Cost
Kukun's tools, bedrooms and bathrooms are
the most popular. These two projects make
26%
27%
up 50% of the total addi2ons es2mated.
6%
8%
9%
Based on Kukun’s Projected Home Value
23%
algorithm, adding a bathroom or a bedrooms
21%
29%
18%
7%
12%
has a greater ROI than adding a sun room,
13%
great room, or family room.
Full Bathroom
Garage
Bedrooms
Half Bathroom
Kitchen
Other*
Bedrooms
Kitchen
All rights reserved. Kukun, Inc. November 2015
Full Bathroom
Great Room
Garage
Other*
* for more informa=on on project types, visit www.mykukun.com
Renova1ons
# of Projects
For remodeling projects, kitchens, bathrooms, and
Total Es1mated
Cost
bedrooms are the most popular. These projects
cons2tute more than 60% of the remodeling projects
25%
28%
4%
6%
configured with Kukun.
Although commonly lauded as a popular renova2on
21%
project with a posi2ve ROI, the number of Kukun
16%
15%
3%
3%
4%
61%
15%
users es2ma2ng window replacement projects was
surprisingly low. Only 3% of the projects were
Kitchen
Living Room
Full Bathroom
Dining Room
Bedrooms
Other*
window replacement.
The expense on Kitchen has increased from 38% to
Kitchen
Great Room
Full Bathroom
Living Room
Bedrooms
Other*
61% compared to August.
All rights reserved. Kukun, Inc. November 2015
* for more informa=on on project types, visit www.mykukun.com
Finish Level Addi1ons
Total Es%mated Cost ($)
Frac%on of Addi%on Projects (%)
Using our tools, people can choose 3
Pool Room
Pool Room
different finish levels for their projects-‐ Guest House with Kitchen
Guest House with Kitchen
Game Room
Good, BeZer, and Best.
Game Room
People are usually looking for BeZer
Home Theater
Hallways/Common Areas
Home Theater
Hallways/Common Areas
finish levels for their projects indica=ng
Full Bathroom
Family Room
a strong trend of home owner’s
Family Room
Dining Room
seeking for a trade-‐off between
Dining Room
Great Room
amount spent and quality*.
Full Bathroom
Half Bathroom
Great Room
Half Bathroom
Bedrooms
Bedrooms
Except for Kitchen and Pool room,
Kitchen
intermediate finish levels are preferred
Entryway/Foyer
Sunroom
for all the projects.
Garage
Kitchen
Entryway/Foyer
Sunroom
Garage
Living Room
Living Room
Guest House
Guest House
US$ 0
0%
2%
4%
Best
6%
8%
BeZer
10%
12%
14%
US$ 10,00,000
US$ 20,00,000
US$ 30,00,000
US$ 40,00,000
US$ 50,00,000
US$ 60,00,000
16%
Best
Good
All rights reserved. Kukun, Inc. November 2015
BeZer
Good
* for more informa=on on finish levels, visit www.mykukun.com
Finish Level Renova1ons
Frac%on of Renova%on Projects (%)
Total Es%mated Cost ($)
Pool Room
Pool Room
Game Room
Game Room
Home Theater
Home Theater
Hallways/Common Areas
Hallways/Common Areas
Full Bathroom
Full Bathroom
Entryway/Foyer
Entryway/Foyer
Similar to addi=on, for remodeling also,
Family Room
Dining Room
beZer is the most preferred finish level
Half Bathroom
for home owners as it gives trade-‐off
Bedrooms
between money spent and quality.
Great Room
Kitchen
Family Room
Dining Room
Half Bathroom
Bedrooms
Great Room
Kitchen
Window Replacement
Window Replacement
Guest House with Kitchen
Guest House with Kitchen
Garage
Garage
Living Room
Living Room
Guest House
Guest House
Sunroom
Sunroom
0%
2%
4%
Best
6%
BeZer
8%
10%
12%
14%
Good
US$ 0
US$ 2,00,00,000
Best
All rights reserved. Kukun, Inc. November 2015
US$ 4,00,00,000
BeZer
US$ 6,00,00,000
US$ 8,00,00,000
US$ 10,00,00,000
Good
* for more informa=on on finish levels, visit www.mykukun.com
Renova1ons
Guest House with Kitchen
Great Room
Pool Room
Guest House
Kitchen
Game Room
Home Theater
Garage
Sunroom
Family Room
Install a Wood Deck
Full Bathroom
Dining Room
Living Room
Window Replacement
Bedrooms
Hallways/Common Areas
Install Air Condi=oning
Repipe House Water Supply Lines
Replace Furnace
Entryway/Foyer
Half Bathroom
Install Can Ligh=ng
Install Entry Door
Remove Popcorn Ceiling Texture
Upgrade Electrical Panel
Replace Hot Water Heater
US$ 82,773
US$ 69,407
US$ 66,991
US$ 56,056
US$ 52,271
US$ 41,505
US$ 31,341
US$ 27,121
US$ 19,620
US$ 19,432
US$ 18,543
US$ 15,977
US$ 11,594
US$ 10,478
US$ 10,207
US$ 9,573
US$ 9,389
US$ 6,084
US$ 3,351
US$ 3,226
US$ 3,152
US$ 2,927
US$ 2,688
US$ 2,034
US$ 1,940
US$ 1,501
US$ 1,237
US$ 0
US$ 10,000US$ 20,000US$ 30,000US$ 40,000US$ 50,000US$ 60,000US$ 70,000US$ 80,000US$ 90,000
All rights reserved. Kukun, Inc. November 2015
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.
State Distribu1on
% OF PROJECTS
30%
22.5%
15%
7.5%
0%
California state has the most
CA TX FL NY WA GA NJ PA MI MA NC VA IL OH IN AL MD CO MO OR LA TN KY AZ OK MN AR KS IA CT WI UT SC RI NV MS NH DC WV Mt ID ME NM HI WY VT AK SD DE NE ND
renova=on projects followed by Texas,
Florida and New York. These cons=tute
% OF TOTAL ESTIMATED COST
20%
15%
10%
5%
0%
CA TX FL NY WA GA NJ PA MI MA NC VA IL OH IN AL MD CO MO OR LA TN KY AZ OK MN AR KS IA CT WI UT SC RI NV MS NH DC WV Mt ID ME NM HI WY VT AK SD DE NE ND
All rights reserved. Kukun, Inc. November 2015
around 45% of our projects.
US$ 0
SAN FRANCISCO
NEW YORK
PORTLAND
SAN JOSE
ATLANTA
HOUSTON
SEATTLE
LOS ANGELES
SAN MATEO
MIAMI
DENVER
MENLO PARK
AUSTIN
MOUNTAIN VIEW
DALLAS
WASHINGTON
CHARLOTTE
BROOKLYN
SUNNYVALE
PALO ALTO
SAN ANTONIO
PHILADELPHIA
SAN DIEGO
JACKSONVILLE
US
CHICAGO
COLUMBUS
PHOENIX
ORLANDO
SAINT LOUIS
CUPERTINO
OAKLAND
ARLINGTON
LOUISVILLE
BEVERLY HILLS
WEST PALM BEACH
INDIANAPOLIS
RALEIGH
POMPANO BEACH
LITTLETON
LITTLE ROCK
LOS ALTOS
FALLS CHURCH
OKLAHOMA CITY
TAMPA
CINCINNATI
LAFAYETTE
KANSAS CITY
MADISON
WILMINGTON
LONG BEACH
RICHMOND
JACKSON
BELLEVUE
BIRMINGHAM
METAIRIE
STANFORD
BOCA RATON
MOBILE
SPRING
GREENVILLE
BATON ROUGE
FORT LAUDERDALE
RACINE
REDWOOD CITY
Portland
SAVANNAH
SAINT PETERSBURG
MIAMI BEACH
BOSTON
DECATUR
ERIE
PARIS
NAPLES
MARIETTA
HOLLYWOOD
BELMONT
FAYETTEVILLE
SANTA CLARA
SAINT PAUL
SPRINGFIELD
SALT LAKE CITY
ROANOKE
BEDFORD
FORT WORTH
FERNANDINA BEACH
JERSEY CITY
NEW ORLEANS
ROCHESTER
SAN CARLOS
BOTHELL
BALTIMORE
CONCORD
SANTA ROSA
DETROIT
POUGHKEEPSIE
SUGAR LAND
CHARLOTTESVILLE
MINNEAPOLIS
CHARLESTON
0%
SAN FRANCISCO
NEW YORK
PORTLAND
SAN JOSE
ATLANTA
HOUSTON
SEATTLE
LOS ANGELES
SAN MATEO
MIAMI
DENVER
MENLO PARK
AUSTIN
MOUNTAIN VIEW
DALLAS
WASHINGTON
CHARLOTTE
BROOKLYN
SUNNYVALE
PALO ALTO
SAN ANTONIO
PHILADELPHIA
SAN DIEGO
JACKSONVILLE
US
CHICAGO
COLUMBUS
PHOENIX
ORLANDO
SAINT LOUIS
CUPERTINO
OAKLAND
ARLINGTON
LOUISVILLE
BEVERLY HILLS
WEST PALM BEACH
INDIANAPOLIS
RALEIGH
POMPANO BEACH
LITTLETON
LITTLE ROCK
LOS ALTOS
FALLS CHURCH
OKLAHOMA CITY
TAMPA
CINCINNATI
LAFAYETTE
KANSAS CITY
MADISON
WILMINGTON
LONG BEACH
RICHMOND
JACKSON
BELLEVUE
BIRMINGHAM
METAIRIE
STANFORD
BOCA RATON
MOBILE
SPRING
GREENVILLE
BATON ROUGE
FORT LAUDERDALE
RACINE
REDWOOD CITY
Portland
SAVANNAH
SAINT PETERSBURG
MIAMI BEACH
BOSTON
DECATUR
ERIE
PARIS
NAPLES
MARIETTA
HOLLYWOOD
BELMONT
FAYETTEVILLE
SANTA CLARA
SAINT PAUL
SPRINGFIELD
SALT LAKE CITY
ROANOKE
BEDFORD
FORT WORTH
FERNANDINA BEACH
JERSEY CITY
NEW ORLEANS
ROCHESTER
SAN CARLOS
BOTHELL
BALTIMORE
CONCORD
SANTA ROSA
DETROIT
POUGHKEEPSIE
SUGAR LAND
CHARLOTTESVILLE
MINNEAPOLIS
CHARLESTON
City Distribu1on
% OF PROJECTS
30%
22.5%
15%
7.5%
TOTAL ESTIMATED COST
US$ 90,00,000
US$ 67,50,000
US$ 45,00,000
US$ 22,50,000
All rights reserved. Kukun, Inc. November 2015
Return on Investment (ROI)
Bedrooms
67%
Dining Room
98%
Family Room
93%
Full Bath
75%
Full Bathroom
88%
Game Room
94%
Garage
52%
66%
Great Room
Guest House
150%
Guest House with Kitchen
142%
Half Bathroom
78%
Hallway-‐Common areas
150%
116%
Hallways/Common Areas
Home Theater
80%
Home Theater Room
80%
51%
Install Air Condi=oning
49%
Install Entry Door
83%
Kitchen
92%
Living Room
27%
Pool Room
81%
Repipe House Water Supply Lines
97%
Replace Hot Water Heater
73%
Sunroom
84%
Window Replacement
0
27
53
80
107
133
All rights reserved. Kukun, Inc. November 2015
160
StateWise Return on
Investment
67%
76%
California
82%
46%
90%
75%
Florida
88%
59%
70%
New York
83%
35%
71%
95%
Texas
88%
36%
0%
20%
40%
Bedroom
Full Bath
60%
Kitchen
80%
Garage
All rights reserved. Kukun, Inc. November 2015
100%
KUKUN TRENDS
All rights reserved. Kukun, Inc. August 2015
Living Room
Family Room
Full Bath
Kitchen
Bedrooms
Windows Replacement
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
2015-‐10
2015-‐09
Interest
Kitchen
Bedrooms
Windows Replacement
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
Interest
Popular Renova2on Projects
www.mykukun.com
Living Room
Family Room
Full Bath
Kukun Data Team
www.mykukun.com
Garage
Great Room
Half Bathroom
Sunroom
Dining Room
Game Room
Home Theater Room
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
2015-‐10
2015-‐09
Interest
Home Theater Room
Game Room
Dining Room
Sunroom
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
Interest
Room Renova2on
Half Bathroom
Great Room
Garage
Kukun Data Team
www.mykukun.com
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
Interest
Windows Replacement
Install A Wood Deck
Install Entry Door
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
Interest
Exterior Projects
Windows Replacement
Install A Wood Deck
Install Entry Door
Kukun Data Team
www.mykukun.com
Install Air Condi2oning
Replace Hot Water Heater
Replace Furnace
Install Can Ligh2ng
Repipe House Water Supply Lines
Upgrade Electrical Panel
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
Interest
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
Interest
Energy Efficient Projects
Upgrade Electrical Panel
Repipe House Water Supply Lines
Install Can Ligh2ng
Replace Furnace
Replace Hot Water Heater
Install Air Condi2oning
Kukun Data Team
www.mykukun.com
Garage
Kitchen
Full Bath
Half Bathroom
Family Room
Bedrooms
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
2015-‐10
2015-‐09
Interest
Half Bathroom
Family Room
Bedrooms
2015-‐08
2015-‐07
2015-‐06
2015-‐05
2015-‐04
Interest
Popular Addi2on Projects
Garage
Kitchen
Full Bath
Kukun Data Team
Average Cost -‐ Popular
Renova2on Projects
www.mykukun.com
22,500$
15,000$
7,500$
Windows Replacement
Living Room
Family Room
Kitchen
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
0$
2015-‐04
Average Project Cost
30,000$
Bedrooms
Full Bath
Kukun Data Team
Average Cost -‐ Popular
Room Projects
www.mykukun.com
60,000$
40,000$
20,000$
Sunroom
Half Bathroom
Great Room
Garage
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
0$
2015-‐04
Average Project Cost
80,000$
Guest House
Dining Room
Game Room
Kukun Data Team
Average Cost -‐ Exterior Projects
www.mykukun.com
22,500$
15,000$
7,500$
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
0$
2015-‐04
Average Project Cost
30,000$
Install Entry Door
Install A Wood Deck
Windows Replacement
Kukun Data Team
Average Cost -‐ Energy
Efficient Projects
www.mykukun.com
12,000$
8,000$
4,000$
Install Air Condi2oning
Replace Furnace
Install Can Ligh2ng
Upgrade Electrical Panel
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
0$
2015-‐04
Average Project Cost
16,000$
Replace Hot Water Heater
Hallway-‐Common areas
Repipe House Water Supply Lines
Entryway-‐Foyer
Kukun Data Team
Average Cost -‐ Room Addi2ons
www.mykukun.com
45,000$
30,000$
15,000$
Half Bathroom
Family Room
Bedrooms
2015-‐10
2015-‐09
2015-‐08
2015-‐07
2015-‐06
2015-‐05
0$
2015-‐04
Average Project Cost
60,000$
Garage
Kitchen
Full Bath
Kukun Data Team
www.mykukun.com
Interest
StateWise Popular Renova2on
Projects
California
Full Bath
Bedrooms
Texas
New York
Florida
Windows Replacement
Living Room
Washington
Family Room
Kitchen
Kukun Data Team
StateWise Renova2on Costs -‐
Popular Projects
www.mykukun.com
50,000$
Average Project cost
37,500$
25,000$
12,500$
0$
California
Texas
Full Bath
Family Room
Living Room
New York
Florida
Washington
Windows Replacement
Bedrooms
Kitchen
Kukun Data Team
StateWise Exterior Project Costs
www.mykukun.com
40,000$
Average Project cost
30,000$
20,000$
10,000$
0$
California
Texas
Windows Replacement
New York
Florida
Install A Wood Deck
Washington
Install Entry Door
Kukun Data Team
StateWise Energy Efficient Project
Costs
www.mykukun.com
7,000$
Average Project cost
5,250$
3,500$
1,750$
0$
California
Texas
New York
Install Air Condi2oning
Replace Furnace
Repipe House Water Supply Lines
Florida
Washington
Replace Hot Water Heater
Install Can Ligh2ng
Upgrade Electrical Panel
Kukun Data Team
StateWise Room Addi2on Costs
www.mykukun.com
Average Project cost
70,000$
52,500$
35,000$
17,500$
0$
California
Texas
Full Bath
Garage
New York
Bed Rooms
Half BathRoom
Florida
Washington
Family Room
Kitchen
Kukun Data Team