Brand

News From The Chairman

Barbara Landers

Coldwell Banker Residential

Homeowners More Likely to take on D.I.Y. Remodels, Says RealtorÒ Survey

 

Homeowners looking to add personality and individuality to their home are more likely to undertake a do it yourself remodel than hire a professional, according to the National Association of RealtorsÒ’ 2019 Remodeling Impact Report: DIY. The report also shows that cash-strapped millennials are the most likely of any generation to take on a DIY project.

 

The report examines the differences between remodeling when hiring a professional compared to homeowners who pursue “do it yourself” projects. The report also differentiates between projects that were undertaken to benefit the homes of consumers and those that benefit consumers’ pets.

 

According to the report, homeowners reported a “Joy Score” of 9.9 for projects done themselves (Joy Scores range from 1 and 10, and higher figures indicate greater joy from the project). That is compared to a score of 9.6 for projects completed by professionals. DIYers also expressed a greater sense of accomplishment with a finished project, with 97 percent of respondents indicating a major or minor sense of accomplishment, compared to 93 percent of those who hired a professional.

 

“One of the pleasures of homeownership is the ability to take on projects to customize a house that truly make it your own. With plenty of owners taking on renovation projects as New Year’s resolutions, this report is a great place to search for projects others have undertaken successfully,” said Barbara Landers 2019 Chairman. 

 

Nearly three-fourths of Generation Y and Millennial consumers (73 percent,) over half of Generation X (51 percent) and 50 percent of Younger Boomers choose to DIY home projects. Seventy percent of the Silent Generation indicated that they hired a professional to complete their project – the highest of any generation.

 

When it comes to projects undertaken for the benefit of the consumer’s pet, marginally more respondents indicated complete satisfaction when they hired a professional, 65 percent compared to 61 percent. However, consumers are more likely to DIY a project for a pet (56 percent) than a general home project (47 percent).

 

Anyone taking on remodeling projects to get the most bang for their buck on resale should speak to a RealtorÒ, as they have unique and instrumental insights into which projects and upgrades bring the most value to homes in your area,” said Landers.  

 

Contact Arlington Board of REALTORS® or visit www.arlingtonrealtor.com for information and advice about buying a home in 2019.