Millennials aren’t turned off by home improvement projects, but are actually more likely than any other generation to remodel any part of their home, according to a HomeAdvisor’s 2018 True Cost Survey. Millennials are twice as likely as baby boomers to complete bathroom and kitchen remodeling projects. They are also more likely to build a deck or porch and paint a home’s exterior than other generations, too.
“I think it is great that Millennials are more likely to renovate than any other generation. To me it shows that Millennials understand the value of owning a home and are willing to make an investment in their futures as well as get the home they want by putting in the time in effort into a renovation. I think the willingness to renovate gives them more options and makes the smarter than us baby boomers who want it all done…” – David Kerr, Associate Partner
According to the survey, millennials have completed the most home projects in the past 12 months. However, baby boomers tend to outspend all generations in home improvement costs.
More than half of millennials surveyed say they want to move to a home with more space or to upgrade to a nicer home, but a lack of homes for sale is keeping them stuck in place.
As such, they’ve got big plans for their current home: 82 percent of millennials surveyed say they plan to spend as much as they did in the last 12 months on home improvement projects next year. More than half of millennials say they expect to spend more than they did last year.