Better Homes and Gardens Survey: Millennials Want Homes to Reflect their Personality
When it comes to homes owned by women under 35, personalization is everything.
That's one of the takeaways from a Better Homes and Gardens survey that focused on millennials and their thoughts on home improvement spending, the importance of functional design, and value in home technology.
The findings were released during a presentation at the National Association of Home Builders Show in Las Vegas.
"Our research shows that women 35 and under feel strongly that their homes are a reflection of their own personalities," Jill Waage said during the presentation. "Further, members of this generation view technology as a way to customize living spaces to fit their needs."
The survey of more than 1,600 women who owned single-family homes found that millennials place more importance on personalizing their home than the generation before them, Generation X. More than 60 percent of millennial respondents said a personalized home is a top priority. Homeowners their parents' generation thought having a personalized home was less important.
More than half, 54 percent of millennials surveyed used at least one of the 16 smart technology features included in the survey. About 40 percent said they would most like to use smart devices to operate appliance settings.
The use and perceptions of this technology has changed quite a bit in one year. In 2014, 57 percent of millennials believed that smart home technology was a good investment. That number jumped to 68 percent in 2015. Safety also seems to play a role with 73 percent of millennials saying that smart technology makes them feel safer compared to 64 percent 2014. Smart technology makes their homes more energy efficient (70 percent) and saves them time (67 percent)
The survey found that compared to older generations, millennials are willing to pay more for high-quality products. But money isn't everything; 44 percent said they are willing to spend top dollar to get exactly the features and quality they want, but 60 percent also said they are willing to compromise on what they want in order to save money.
Across all age generation groups, millennials also lead in planning or working on an interior project. Overall one in five homeowners has something in the works.
On the outside the house, one in three millennials said that exterior makeovers are expensive and not worth the investment. But, for those looking to boost curb appeal, 44 percent plan to do it with landscaping.
Personalization spills outside the doors with 51 percent reporting that they decorate their outdoor living space like they would an indoor living or dining room. Popular upgrade projects include landscape lighting, fire pits, lamps and party lights, and comfortable seating and dining sets.
"The places where millennials choose to spend their money are very telling of the values within this generation," Waage noted.