Download the Full ReportOlder Generations Drive Renovation Activity: Baby Boomer and Gen X homeowners accounted for 85% of those renovating on Houzz in 2019, up from 83% in the prior year. The rest were largely Millennials, whose share declined from 14% in 2018 to 12% in 2019.
Renovation Pace Continues with Reduced Spend: Overall home renovation activity remained stable year over year, with 54 percent of homeowners reporting a renovation project in 2019, and tackling nearly three interior rooms on average.
The mix of renovation activities and project types remained consistent with recent years, with kitchens and bathrooms continuing to lead in
popularity. Median renovation spend, however, declined from $15,000 in 2018 to $13,000 in 2019, owing to a reduction in average project scope as well as slightly fewer projects per homeowner.
Home Offices Get to Work: While kitchens and guest bathrooms remained the most popular rooms to renovate (27% and 25%, respectively), home offices were added or upgraded by 1 in 10 homeowners in 2019. Millennials and Gen Xers were more likely to pursue a home office project (11% each) than were Baby Boomers (9%).
Coronavirus Pandemic’s Impact: Subsequent surveys have shown that over half of homeowners who were in the midst of a project at the start of the pandemic were able to continue with renovations. That said, some homeowners have opted to delay certain elective renovations due to implications related to social contact, labor and material availability and personal discretionary spending. Maintenance and repairs, on the other hand, are more likely to proceed, especially when the need is urgent. Deferred maintenance will accrue during this period, setting the stage for a renewed burst of activity following the pandemic.
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Older Generations Drive Renovation Activity: Baby Boomer and Gen X homeowners accounted for 85% of those renovating on Houzz in 2019, up from 83% in the prior year. The rest were largely Millennials, whose share declined from 14% in 2018 to 12% in 2019.
Renovation Pace Continues with Reduced Spend: Overall home renovation activity remained stable year over year, with 54 percent of homeowners reporting a renovation project in 2019, and tackling nearly three interior rooms on average.
The mix of renovation activities and project types remained consistent with recent years, with kitchens and bathrooms continuing to lead in popularity. Median renovation spend, however, declined from $15,000 in 2018 to $13,000 in 2019, owing to a reduction in average project scope as well as slightly fewer projects per homeowner.
Home Offices Get to Work: While kitchens and guest bathrooms remained the most popular rooms to renovate (27% and 25%, respectively), home offices were added or upgraded by 1 in 10 homeowners in 2019. Millennials and Gen Xers were more likely to pursue a home office project (11% each) than were Baby Boomers (9%).
Coronavirus Pandemic’s Impact: Subsequent surveys have shown that over half of homeowners who were in the midst of a project at the start of the pandemic were able to continue with renovations. That said, some homeowners have opted to delay certain elective renovations due to implications related to social contact, labor and material availability and personal discretionary spending. Maintenance and repairs, on the other hand, are more likely to proceed, especially when the need is urgent. Deferred maintenance will accrue during this period, setting the stage for a renewed burst of activity following the pandemic.
Download the Full Report
See Related Stories: