Who doesn’t love spending an evening relaxing in front of the newest reality TV show? You might call it a guilty pleasure, but we have to admit that we, along with well over a million other Aussies, love The Block.
With the announcement that The Block 2017 has started auditioning for its newest contestants, we’ve had renovation on the brain. Sitting back and watching as other people try to create a modern masterpiece out of a rundown complex is almost as fun as getting up and doing it yourself!
So why does Australia love The Block so much? Well, research tells us that it’s because we love to renovate. Whether we’re ripping up our carpets in favour of tiles or stipping off our wallpaper to splash on some paint, a study by Ron Morgan Research found that 62% of Australian homeowners carried out some form of renovation in 2016. That’s 8.4 million homeowners.
That isn’t to say that all homeowners are dedicated $100,000 to their renovation budget å la The Block. In fact, the most popular type of home improvements are more minor renovations, with 5.8 million Aussies (43%) putting money toward small alterations and 3.7 million giving their homes a fresh lick of paint on their walls, window sills, and ceilings. These smaller renovations can help to give homes a new lease of life without the big budget.
Compared to the 43% of Aussies mentioned above, only 17% of homeowners (around 2.2 million) spent in excess of $5,000 renovating or extending their homes – however, this is still 300,000 more than recorded in 2013, which shows that home renovations in all areas are on the rise.
It was also recorded that homeowners who moved into their abodes less than 12 months ago were more likely to shell out the big bucks for home renovations, while those who had been settled into their homes for longer were content to leave their homes be.
If you’re planning any home renovations in 2017 and you’re wondering what you’ll do with your old floorboards once your new tiles have been laid, contact Bonza Bins today to chat about what we can do for you!