Despite the down real estate market, in a national representative sampling, 83% of all homeowners said their home was worth more than what they paid for it. Nearly half stated their home was worth "a lot more." Seventy-four percent believed that making renovations or home improvements now will help them get the most money when they decide to sell.

These results are from a survey conducted among a national probability sample of 757 adult homeowners conducted by Opinion Research Corporation for the Minwax(R) Company.

Eye on Resale Value

Where will their renovations count most? Two thirds of homeowners focused on the kitchen, specifically 63% said a kitchen update and 51% said buying new or refinishing kitchen cabinets will add to the resale value. A similar proportion, 67% felt that painting the interior or exterior will add to the value. Other frequent mentions were remodel the bath 58%, replace carpeting 54% and add new or refinish hardwood floors 49%.

Why They Do It

Almost a third said they do home improvements because they enjoy it and slightly more homeowners admitted that they do home improvement projects "only when I need to."

Hot for Home Improvements

Regardless of whether they are selling or staying put, 67% of homeowners plan to initiate a home improvement project in the next 12 months. The majority plan to paint.

Movin' On Out

And in a perfect world if they got the right price for their home what would they do? The largest proportion 35% would downsize to a smaller house, townhouse or apartment. A similar percentage would relocate to another city for a change of climate or new job or move to a nicer neighborhood. Only 26% said they would buy a bigger house.