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 Millennial homeowners is making a newly purchased home their own (55 percent), with one-third purchasing a new home in 2014 alone. That has been Lonestar Design Build’ experience in working with Millennial homeowners in the Dallas-Fort Worth area as well. Many Millennials are purchasing homes in historical districts such as the Bishop Arts district, Highland Park, and smaller communities in the mid-cities area.
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.
Popular kitchen remodel trends amongst Millennials in the DFW include furniture-style design features in the Highland Park area of Dallas, and Airy (and user-friendly), open shelving in the Bishop Arts district.
Modern traditional styles are popular amongst homeowners of all generations in the Dallas-Ft. Worth area, but tend to be the go-to design for Millennials.
Eighty-four percent of all homeowners hired a professional to help with their remodeling projects; nearly half of those used a general contractor (44 percent). Homeowners were also likely to hire landscape contractors (19 percent), interior designers (12 percent), architects and landscape architects/designers (10 percent each).
For more information on how to hire a remodeling professional, download our FREE e-book Remodeling Contractor Standards- a No Regrets Guide to Hiring the Right Contractor