Two things are happening simultaneously this time of year.
It’s nearly the end of the school year for most universities across the country. Many of these grads will be venturing into the world of independence, the work force and their first non-campus/ school-related apartment or living situation as most likely (and hopefully for their parents), first-time-renters.
It’s also that time of year that many homeowners start refreshing their space with Spring’s renewal season by updating or redoing areas of their home or apartment.
Houzz conducted a survey last year that still seems to be current. Here are some interesting excerpted stats that pertain to all age groups based on nearly 200,000 respondents.
• Remodeling trumps moving, except for Millennials:
Homeowners undertaking remodeling projects (66 percent) plan to stay in their home
for the long term, and are motivated by a desire to improve the aesthetics
and functionality of their home to meet their needs. Millennials (36 percent), however,
are more likely than other age groups to renovate with an eye on moving
and increasing the resale value of their current home.
• Motivations
Consistent with prior years, the vast majority of homeowners (78 percent) remodeled to
improve the look and feel of their space. Secondary factors include making the space more
functional (54 percent), increasing home value (52 percent) and upgrading features/appliances
(47 percent).
• Hiring professionals is not just limited to homeowners, as 40 percent of U.S. renters on Houzz plan to hire an architect and 32 percent plan to hire an interior designer for some home job in the next two years.
• Hiring Criteria
When selecting a professional [or making any major purchase or that matter], homeowners most value Houzz recommendations and reviews for Casart (83 percent of homeowners rated this as very important (a five on a five-point scale). Also important is that the professional is an expert in their field (70 percent), has a personality the homeowner can work with (60 percent) and has completed similar projects (53 percent). Among Houzz homeowners, of least importance is finding a professional who offers the lowest
bid (just seven percent make this a top priority – down from eight percent last year). Price
matters most for Millennials, for whom this number jumps to 13 percent.
• Decor
Homeowners and renters on Houzz are just as likely to decorate and nearly three quarters of
those in the U.S. are planning a decor project in the next two years (73 percent). Surprisingly,
renters are more likely than homeowners to hire a professional for their interior (21 percent
versus 17 percent, respectively).
• A Significant Personal Investment
While caution about the economy remains, significantly more homeowners on Houzz are able
to fund their remodeling projects this year compared with last year, and they are investing to
create a home that meets their needs now and for the long-term. With the exception of
Millennials, the majority of homeowners who are remodeling to increase the resale value of their
homes have no plans to move in the near future. The American home is also evolving, as
homeowners incorporate new technologies, recycled materials and make their homes more
energy efficient. The investment in home renovation is as much a personal investment as a
financial one.
[It is interesting to note a previous post, as it could pertain here, that Millennials and the younger generation on the whole value vintage but do not want their parents’ “old, brown, antique” furniture.]
Luckily, Casart coverings offers a decorating solution that satisfies all criteria being, removable, reusable, sustainable and an artistic investment you can showcase permanently or take with you.
With this information in mind, we say stats to grads and congratulations! Spread your wings & find your personal style that enhances quality in the pursuit of the life you want to live.
To current homeowners and renters, strut your stuff and don’t be afraid to try new things to express your personal style and bring even more enjoyment to the life you’re living.
You can read the full Houzz survey report here.
Also, bridging the gap between young and old, here’s a video of Ashton Kutcher’s Mother’s Day Surprise, as he remodels his mother’s home as a gift to her, sponsored by Houzz.
The series of videos does an excellent job of showing what makes a family house a more comfortable home.
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