Who’s Most Likely to Remodel?
Remodeling a home is not an uncommon occurrence. A homeowner may want to add more space, give their home more function, or add a personal touch or special feature they’ve always dreamed of. Or homeowners may be getting ready to market their home to potential buyers. However, according to research by the National Association of REALTORS®, some homeowners are more likely to tackle these remodeling projects than others. In fact, younger baby boomers (those born between 1955 and 1964) are most likely to move forward with a remodel (40 percent), followed by older boomers (those born between 1946 and 1954) at 34 percent. On the other hand, younger homeowners (millennials are most likely to DIY (51 percent).
Review NAR’s 2015 Remodeling Impact Report to see generational differences in remodeling projects. Talk to REALTORS® in your area to learn what they are seeing in terms of homeowners and remodels. Speak with homeowners from different generations to get their thoughts on home projects and remodels.