# Closing escrow to hiring a contractor

By Blake Petrowich (@blakepetrowich) · Published 2026-07-11

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### **1\. The "First Two Years" Surge**

The vast majority of remodeling activity happens almost immediately after the keys change hands. According to data from the **National Association of Home Builders (NAHB)**, buyers of existing homes spend about **twice as much on repairs and remodeling** in their first year of ownership than non-movers.

-   **Statistic:** Home buyers typically spend an average of **$8,000 to $10,000** on improvements within the first 12 months.
    
-   **Frequency:** Nearly **half (45-50%)** of all home buyers perform some form of professional renovation within the first two years.
    

### **2\. Preference for Customization**

Modern buyers are increasingly unwilling to settle for dated finishes. A **2023 Houzz & Home study** found that:

-   **72% of home buyers** cited "wanting to customize a recently purchased home" as their top reason for remodeling.
    
-   **Kitchens and bathrooms** remain the primary targets, with roughly **25-30% of buyers** tackling a kitchen renovation within the first year.
    

### **3\. The "Fixer-Upper" Trend**

Due to high interest rates and low inventory, more buyers are intentionally seeking out "fixer-uppers" to build equity.

-   **Statistic:** Roughly **1 in 4 buyers** specifically purchase a home that requires "significant" modernization.
    
-   **Millennial Influence:** This demographic is the most likely to remodel, with over **90% of Millennial homeowners** planning some type of home improvement project, often focused on energy efficiency and smart home technology.
    

### **4\. Outdoor Living and Curb Appeal**

Post-transaction remodeling isn't just internal.

-   **20% of buyers** invest in landscaping or exterior improvements (painting, windows, roofing) within the first six months to establish their own "curb appeal" and sense of ownership.