Homeowners looking to improve their existing home are just as likely to tackle the project themselves as they are to hire professionals, according the the National Association of Realtors® (NAR) "2019 Remodeling Impact Report: DIY." According to the Payson Roundup, the NAR finds that millennials are the most likely generation to take on improvement projects without the aid of professional contractors.
The report examines the differences between remodeling when hiring a professional compared to homeowners who pursue “do-it-yourself” projects. According to the report, homeowners reported a “joy score” of 9.9 for projects they completed compared to 9.6 for projects completed by professionals. Homeowners also expressed a greater sense of accomplishment with a finished project, with 97% of respondents indicating a major or minor sense of accomplishment, compared to 93% 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, this report is a great place to search for projects others have undertaken successfully,” said Kristin Croak, president of the Central Arizona Board of Realtors.
Nearly three-fourths of Generation Y and Millennial consumers (73%), over half of Generation X (51%) and 50% 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.
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