Home » Houzz Releases Homeowners Renovation Survey Results

Houzz Releases Homeowners Renovation Survey Results

June 11, 2015

Millennial homeowners in the U.S. were just as likely to renovate their homes as other age groups in 2014, according to the fourth annual Houzz & Home survey, with more than 170,000 respondents in the U.S. among the 260,000 respondents globally. The survey, which received more than 15,000 U.S. millennial homeowner responses (ages 25-34), revealed that a key motivation for renovation projects among this age group is making a newly purchased home its own (55%), with one-third purchasing a new home in 2014 alone.

“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.”

According to the survey, carpet/flooring professionals are among the top specialties hired for projects without a general contractor, and flooring was replaced in over half of all interior renovation projects in 2014. Specifically, among 29% of homeowners who renovated a kitchen, over half replaced flooring (55%). Among the 25% and 21% of homeowners who renovated a guest/other bathroom or a master bathroom, respectively, 69% replaced flooring, on average. Flooring was replaced in just over half of all other interior remodels and additions (51%).

"27% of homeowners on Houzz plan to replace non-carpet flooring and 13% plan to purchase carpeting in the next six months," added Sitchinava.

According to the survey, kitchens continue to be the most popular interior remodeling project among all age groups, with nearly one-third of homeowners tackling this room in 2014. Millennial homeowners, who were just as likely to remodel their kitchens as other homeowners, spent an average of $26,300 on major remodels of a large kitchen (more than 201-square feet), and $16,100 for major remodels of a small kitchen (less than 201-square feet). By comparison, younger Baby Boomers spent an average of $45,200 on major remodels of a large kitchen and $38,700 for major remodels of a small kitchen. When it comes to minor kitchen remodels, Millennials spent $5,100 on average for a small kitchen and $7,500 for a large kitchen.

Eighty-four percent of all homeowners hired a professional to help with their remodeling projects; nearly half of those used a general contractor (47%). Homeowners were also likely to hire landscape contractors (19%), interior designers (17%), architects and landscape architects/designers (10% each). Nearly half (48%) of those surveyed who hired a professional leveraged a specialty service provider such as an electrician (18%), plumber (17%) or painter (15%) directly, without the help of a general contractor.

For more information, visit houzz.com.