A recent survey reveals that a significant portion of Russians prefer handling apartment renovations on their own to cut costs. The findings come from Rosgosstrakh, a leading insurance company, which based its conclusions on its latest research while socialbites.ca provided a copy for reference.
The primary motive is saving money, cited by over half of respondents. A sizable share also expresses reservations about their own skills, and some distrust the work of professional teams. Consequently, a notable portion of the population either hires specialists or combines DIY efforts with professional services to manage projects more effectively.
Demographic trends show recurrent renewal activity. A majority say their last major update happened within the past nine years, with a meaningful minority completing renovations in the year 2023. Today, roughly one in ten individuals are actively renovating their living spaces.
Budget awareness is evident in the data. The typical household allocates up to five hundred thousand rubles for renovations, while a minority invests more than one million rubles. Financing emerges as a practical consideration, with about a quarter of respondents taking out loans to cover renovation costs. Escalating prices for building materials and services appear to be pushing many to tighten spending, opting for affordable equipment, plumbing fixtures, and finishing materials instead of premium options.
Insurance data highlight potential risks during renovations. The discussion often centers on the reliability of design plans, furniture choices, and the possibility of disruptive replacements of utilities or damaged materials. In 2023, the insurer reported paying more than two billion rubles in property risk claims on behalf of citizens, underscoring the financial exposure involved in home projects.
Industry experts have also pointed to the broader benefits of prudent real estate investment, underscoring how thoughtful renovations can enhance property value and living quality over time.
Many Russians have expressed dissatisfaction with rental housing, which shapes attitudes toward home ownership and the appeal of upgrading living spaces. As markets evolve and financing options broaden, homeowners and renters alike are weighing renovation strategies that balance cost, quality, and risk.