The desire for better and/or newer amenities is the primary reason why customers want to remodel, according to the NAHB’s Remodeling Market Index (RMI).
The index was based on of a survey of remodelers who were asked to rate the reasons why customers want to remodel on a scale of 1, Never/Almost Never, to 5, Very Often. Desire for better/newer amenities rated 4.3.
Other top reasons were the need to repair or replace old components (4.2), and the desire or need for more space (3.8).
The least likely reason was getting a property ready for REO, short, or other distressed sale (1.3).
The question has been asked in the RMI survey since 2012.