Survey: Homeowners Bullish on Kitchens,
BENSALEM, PA It can be difficult to predict the actions of
consumers in times of economic uncertainty. However, for the
kitchen and bath industry, a less than stellar economy doesn’t
necessarily mean a significant drop off in business.
The kitchen and bathroom of a home represent an investment, and
improvements to those two key living spaces should be undertaken
despite current economic conditions.
That was one of the findings of a national survey of nearly 600
homeowners sponsored by SieMatic Corp., the custom cabinet
manufacturer headquartered in this Philadelphia suburb. The results
of the survey which was conducted via E-mail and the Internet were
made available to the press at the Architectural Digest Home Show
in New York last month.
The results of the nationwide poll, sponsors say, provide an
interesting insight into the mindset of the high-end kitchen/bath
consumer at a time when the U.S. economic picture is relatively
cloudy and soft compared to the past several years. The survey’s
results suggest strongly that most upscale homeowners feel that
recent economic softening will not stand in the way of their
kitchen and bath remodeling plans.
Respondents to the survey believe that kitchen and bath
remodeling represents a safe, equity-building form of investment at
a time when other investment strategies have proven volatile and
Most of the survey’s respondents are homeowners (88%), with
household incomes of $75,000 or higher. A majority (60%) of those
people responding to the poll say that they are planning
renovations to their kitchens and bathrooms, including paint (74%),
new flooring (67%), new cabinetry (57%) and new appliances
Eighty-five percent of respondents said kitchen remodeling
projects can cost upwards of $50,000. Thirteen percent, in fact,
put the figure at nearly $75,000, according to SieMatic. Most
estimated that bathroom remodeling projects would cost anywhere
from $15,000 to $25,000, the company added.
According to SieMatic officials, 85% of the survey’s respondents
also said the condition of a home’s kitchen and bathroom
are a major consideration when making a “buy/not to buy”
decision. The same number of respondents said investments, such as
upgrading the kitchen or bath, should be made to ensure that a
home’s value remains strong.
In addition, SieMatic noted, 60% of the respondents
they were planning to renovate and/or remodel their kitchens and
bathrooms within the next 12 months and slightly more than half
(54%) said such renovations should be undertaken regardless of the
overall condition of the economy.
“A home’s kitchen is a kind of gateway to how a family lives,”
said SieMatic president Frank Siekmann. “Most of our customers do
not let the overall condition of the economy affect their
investments in kitchens and bathrooms.”