Why Millennials are Finding a Passion for DIY Home Improvement
A report by the Global Market Insights reveals that the home revenue market will register approximately $1,120 billion by 2025, with DIY home improvements registering $ 680 billion, according to the GlobeNewswire. The availability of smart home improvement kits for DIY fans and the presence of required skills for undertaking home renovations are key factors driving market growth. Also, personalizing amazing interiors to inspire you every day is economical when you do-it-yourself. Here are several reasons why millennials are developing a real love for DIY, and why you should too.
Millennials Prefer To Do-It-Themselves
Reports show that 70% of millennials create budgets for their projects compared to boomers and Gen-Xers, who account for 53% and 60% respectively. Aside from feeling confident about their skill levels, millennials are taking on more DIY projects because they feel satisfied with the results. Unlike previous generations, millennials possess a high skill level for home projects. In addition, many millennial DIYers claim to have the confidence to achieve a successful budget and complete their projects on time.
Availability of DIY Tools Online
Most home improvement brands are embracing e-commerce, which means that you can purchase any home remodeling tool or product with just one click. Apart from selling a variety of power tools at reduced and discounted prices, online hardware shops are convenient. Buying DIY home renovation tools will reduce the long-term costs of hiring professional contractors. And with the increasing number of stores offering unique deals, homeowners are more willing to spend a few hundred dollars on do-it-yourself tools to save on overall remodeling expenses.
DIY Projects Increase Property Value
Do-it-yourself remodeling projects may require more hard work, but they are less expensive and can add value to your home. Whether you are planning to sell your property or want to enhance the aesthetics and comfort for yourself, making diy home improvements will maximize its overall value. Also, there are plenty of DIY projects you can undertake to increase your home’s worth, especially with the rising cost of homes and extensive projects. Although the interiors come first when renovating the home, remodeling the exteriors is critical. The front door, roofing, gutters, and curb are the first impression of your house that people will see. When the external parts are well-planned out and atheistically attractive, your home will sell at a higher price.
As millennials start to enter homeownership, the home improvement industry can expect to witness more DIY projects. Installation of soft floors, ramps, and smart home technology such as voice and motioned automated lighting will take over as boomers start their aging-in-place transformations. In addition, property owners will take on more DIY projects rather than pay for extensive services or move due to the increasing cost of buying new homes.