Who says Millennials aren’t interested in the perks of home ownership? The fourth annual Houzz & Home survey released on June 10 shows that Millennial homeowners are just as interested in redecorating and renovating their houses as older generations. The survey, which canvassed homeowners of all age groups, received more than 15,000 responses from U.S. Millennial homeowners.
Millennials, also known as Generation Y, are made up of individuals born between the early 1980s and late 1990s. Homeowners within the 25-to-34-year-old age range fell into this demographic in the Houzz & Home survey.
Approximately 55 percent of Millennials said that their main motivation for renovating a newly purchased house was to make it “their own.” And fully one-third of the Millennial respondents to the survey said they purchased a new home in 2014.
“While still a small group, Millennial homeowners are just as active as older generations when it comes to renovating and decorating,” said Nino Sitchinava, principal economist at Houzz. “Because of delayed homeownership, we have historically known very little about their preferences when it comes to their home updates. However our unprecedented data show that Millennial views on resale value, energy efficiency, healthy homes, and other factors are similar to those of older generations.”
About 25 percent of remodelers said that smart home tech was a very-to-extremely important consideration during a recent renovation. Approximately one-fourth of homeowners installed home automation technology in a renovated space last year.
In terms of most-frequently renovated spaces, the kitchen reigned supreme in 2014. Millennials who renovated or remodeled spent an average of $26,300 on major kitchen remodels last year, while Baby Boomers dished out $45,200. However, staying on budget is still a problem for the younger generation. About 38 percent said it was their top challenge last year, compared to just 29 percent of Baby Boomers.
This year’s annual Houzz & Home survey included responses from more than 260,000 people worldwide.
Related Posts
Save up to $500 on Narwal robot vacuums with these Black Friday deals
If you've been waiting for the right moment to outsource your floor cleaning, this is it. Robot vacuums have evolved from clumsy bumpers into genuine cleaning assistants, and Narwal is currently running its biggest savings event of the year. From November 20 through December 1, you can save up to $500 across their lineup, bringing flagship cleaning tech down to much more accessible prices.
Get 50% off this SimpliSafe 8-piece wireless home security system
If “I should really get a security system” has been sitting on your mental to-do list for a while, this SimpliSafe deal makes it much easier to finally check that box. The SimpliSafe 8 Piece Wireless Home Security System is down to $119.99, which is 50% off the usual $239.99 price. You get a full starter kit from one of the best-known DIY security brands, without signing a long-term contract.
Save 20% on the Honeywell Sunturalux LED desk lamp with USB charging
Good lighting can quietly make a big difference in how you work, read, or study—especially if you’re staring at screens for hours. The Honeywell Sunturalux™ LED Desk Lamp (HWT-H01) is designed with that in mind: soft, adjustable light, a compact foldable design, and a couple of USB ports to keep your devices topped up.