Many are embracing what millennials call “adulting.” One does not only get to make all the decisions themselves, from the way they dress up to their chosen careers. You can now choose to step outside of your comfort zone, create your own opportunities, and still be adventurous. But one thing that many can’t wait to do is to start buying their own houses so they can renovate their homes however they like.
According to a Millennial Study conducted by the Bank of West, 42% of Gen-Yers already own their own home. About 46% are renting while the rest are either living with their parents or friends. Sure, the number of millennial homeowners is below 50%. But they are already changing the way everyone views and deals with home improvement. Here’s how.
They renovate to boost aesthetics and home value
These days, millennial homeowners don’t simply focus on improving their homes just to modernize the space. Many are targeting to improve home value and aesthetics. One can say that Gen-Yers invest in such projects due to their love of the gram.
Statistics show that millennials are the highest number of Instagram users worldwide. This can be due to their love of posting photos of just about anything, from their meals to pets and even their home designs. It is also one reason why Generation Y chooses to invest in home improvement projects that look great and feel luxurious.
Another reason why millennials are so invested in boosting home value is since they are buying resale houses. To make their own home social media-ready and up to their needs and standards, they tend to invest more in improving their houses. This can mean turning to metallic epoxy floors, renovating their kitchens, and even preparing their home offices for the gram.
They tend to focus on sustainability
One great quality most millennials posses is their passion for sustainability. They are not only open-minded, educated, health-conscious, and financially conscious. They are also the generation who are more than willing to invest in things that help the environment and build a more sustainable future. This shows in their choice of home improvement projects.
Many millennials invest in eco-friendly and sustainable products for their homes. This is not only evident in their choice of appliances, but in home improvement materials as well. They also tend to sport a minimalist interior design in an attempt to lower their waste and avoid hoarding unnecessary clutter.
They are committed to DIY
A Coinstar survey shows that Gen-Yers are invested in DIY projects. They are skilled not only in completing such projects but in budgeting their DIYs as well. Many millennials find Do-It-Yourself projects to be extremely satisfying. They also tend to pay in cash instead of taking out a loan. Running out of funds may cause them to put the project on hold. But their success and completion rates are still higher than Baby Boomers.
DIYs, sustainability, value, and aesthetics are the things most millennial homeowners are currently investing in. This may not necessarily be your cup of tea when it comes to giving your home a makeover. But then it shows how one generation’s preference can differ from one another and how we can learn a thing or two about the younger generation.