Millennials are more likely than baby boomers to land in the ER from a DIY home improvement project gone awry, and that overzealousness may be because they are eager to show off their latest project on social media, according to a new survey by SoFi.
Many homeowners will be looking to create dream spaces with paint this spring. According to a new National Home Design and Color Survey from Sherwin-Williams, seven-in-10 homeowners plan to undertake a house-related project in the next six months. Of those homeowners planning house projects, painting tops the list with 42% wanting to liven up their space with color, followed by landscaping (39%) and redecorating (30%).
More consumers are hoping to save money by taking on do-it-yourself projects. Whether it’s painting the kitchen or swapping out the car battery, consumers are educating themselves with the help of online videos and getting to work. They are also turning to online sources to order the equipment they need, especially auto parts, according to a new AutoPartsWarehouse.com report.
2014 is expected to be a big year for new homes and do-it-yourself projects, according to the American Express Spending & Saving Tracker. This year, 16% of those surveyed are planning to move, which marks a significant difference from 10% in 2012. 73% are planning home improvement projects in 2014, spending an average of $4,000.
A lot of homeowners have resolved to work on their lawnscapes in the new year, according to a recent survey from the Home Projects Council. The most popular outdoor do-it-yourself home improvement New Year’s resolution project is landscaping in the front or backyard. The HPC survey also forecasts an increase in time and money spent on projects by homeowners in 2014.
Whether homeowners are nervous about over-improving their properties or just continuing to feel the economic pinch, the days of the mega-home improvement projects may be behind us for a while. Three or four years ago, kitchen and bathroom makeovers fueled the home improvement industry and many consumers spent thousands of dollars turning their backyards in outdoor living spaces.