![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/07\/reno.jpg\")
<\/a><\/p>\nPhoto by\u00a0Umanoide<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\n If you\u2019re an urban, Millennial renter like myself this may come as a shock, but apparently, a modest, yet growing cohort of our generation actually own homes. The most recent data on Millennial homeownership comes from <\/span>The Urban Institute<\/span><\/a>, which calculated the rate at 37 percent back in 2015. That percentage is expected to increase this year as more Millennials wed and combine their purchasing power.\u00a0<\/span><\/p>\n Raised on <\/span>Trading Spaces <\/span><\/i>and <\/span>Extreme Makeover: Home Edition<\/span><\/i>, Millennials are embarking on home renovations like never before. Home Advisor\u2019s <\/span>State of Home Spending<\/span><\/i> 2019<\/span><\/i><\/a> report reveals some interesting insights on Millennial renovating habits. Read on to find out how Millennial homeowners differ from their older counterparts when it comes to home improvement.<\/span><\/p>\n\n Photo by\u00a0Alexander Mils<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\n Millennials are obsessed with ROI, which makes sense given that we came of age during the housing market collapse of 2006. More than 20 percent of Millennials listed financial ROI as their primary reason for renovating, compared to just under 10 percent of Gen Xers and 8 percent of Boomers. If we\u2019re going to forego avocado toast and coffee to save for a downpayment, we want to make damn sure that once we own a home, we\u2019re making smart money moves.<\/p>\n Photo by\u00a0Sven Brandsma<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\n Millennials and their grandparents share an affinity for mid-century modern furniture (thanks, <\/span>Mad Men<\/span><\/i>), but these generations also favor aesthetics and design when it comes to home improvement. Boomers, on the other hand, prefer \u2018modernization,\u2019 but are less concerned about whether or not their beige bathrooms will rake in likes on Instagram.<\/span><\/p>\n Photo by\u00a0Grovemade<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\n If you\u2019ve ever gone to Target with the Amazon app open on your phone, comparing the prices of every item in your cart, you can probably empathize with budget-conscious Millennial homeowners. To research project costs, 77 percent of Millennials scoured the internet, 64 percent checked big-box stores, and 30 percent asked a previously used contractor. \u201cMillennials are consistently using multiple methods to research the costs at a higher level than other generations,\u201d reads the report. Since we haven\u2019t yet reached our peak earning years, we\u2019re being more selective about how we spend our reno dollars.<\/p>\n Photo by\u00a0Dan Smedley<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\n A starter home is not a forever home, and that means Millennials are far less likely to invest in a full-gut rehab. Instead, they\u2019re looking to less expensive bathroom renos to boost ROI and keep up with the <\/span> Photo by\u00a0Naomi H\u00e9bert<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\n Debunking the theory that Millennials don\u2019t know how to cook, kitchen renovations amounted to 17 percent of Millennial renovation projects. Home Advisor points to the \u201cdominance of the kitchen as the entertainment hub of the home,\u201d Millennial interest in health and wellness, and of course, our desire to increase ROI. We want our money back, but we also want to make some gluten free scones in a functional kitchen!<\/p>\n Home Advisor\u2019s State of Home Spending 2019 report reveals some interesting insights on Millennial renovating habits.<\/p>\n","protected":false},"author":12,"featured_media":193975,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2019-07-11T16:52:24Z","apple_news_api_id":"14b21e70-9502-46b3-a3e7-2df583836af8","apple_news_api_modified_at":"2019-07-12T20:21:51Z","apple_news_api_revision":"AAAAAAAAAAAAAAAAAAAAAA==","apple_news_api_share_url":"https:\/\/apple.news\/AFLIecJUCRrOj5y31g4Nq-A","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11115],"tags":[11113,11112,11222],"coauthors":[8647],"apple_news_notices":[],"yoast_head":"\n1. They are all about that return on investment.<\/b><\/h2>\n
<\/a><\/p>\n2. They want their homes to look good for the \u2018gram.<\/b><\/h2>\n
<\/a><\/p>\n3. They are doing their research to compare costs.<\/b><\/h2>\n
<\/a><\/p>\n4. They favor less expensive bathroom renos.\u00a0<\/b><\/h2>\n
<\/a><\/p>\nJoneses<\/span><\/del> Instagram influencers \u2014 if only a little bit. Surprisingly, bathroom renovations proved to be the most popular home improvement project across all generations for the second year in a row.\u00a0<\/span><\/p>\n5. But kitchen renos came in not-so-distant second.<\/b><\/h2>\n
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