Given the recent severe impact of hurricanes Harvey and Irma in the Houston metropolitan area and Southwestern Florida, Houzz took a deeper look at conditions among renovation professionals in these areas.
Year-Over-Year Barometer Findings
Additional study highlights:
- 34% of the population are Millennials, however they only represent 12% of homeowners.
- Baby Boomers spend an average of $20,000 on remodeling projects vs $11,000 from Millennials.
- Millennials are more apt to spend on cosmetic interior renovations, trendy technology integration and outdoor living spaces.
- Kitchen and bath projects are still universally the most common renovation but Boomers will spend 3 times more than a Millennial.
- Repeat home buyers spend much more on renovations and engage in more reno projects.
- 57% of reno projects are done by homeowners who have lived in their home more than 6 years.
- Homes built in 1960-1980 and under 2,000 square feet have the most expensive remodeling projects. Whole house renovations are the most common in this sector.
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