With the economy improving, people have more income to invest in their homes. As a result, the home improvement industry is experiencing a boom. To get more details on this increased interest in home improvement, HomeAdvisor did a study on what people were investing in. They studied the age of the homeowners, income level, geographic location, and age of the home and found some interesting trends. For example, most of the millennials home projects included child proofing and landscaping while older people focused on upkeep. All of these factors found similar patterns that created a clear picture on how people are improving their home to the best of their ability.
- Homeowner’s are moving beyond simple home repair and are spending big bucks on home restoration projects.
- Millenials are moving to the suburbs, despite the high real estate market and tend to buy child-related items for the home.
- Boomers tend to spend money on projects that add value to the property.
“installing or repairing swamp coolers is popular with those making less than $75,000.”