Among homeowners who plan to sell their homes, they appear less eager to make improvements as compared to last year. Reasons for this are open for interpretation. Seller confidence is at a four-year high, with 65% believing that they will be able to obtain the asking price for their home. This is up 25% from 2010.
Other notable statistics from the study were 16% of homeowners plan on moving in 2014. That’s up from 10% in 2012. 46% plan to buy a home, which is up from 43% in 2013.
The biggest common bond among all age groups was the reliance on good reviews and references to decide upon who will do the work. But when investigating how & where those reviews were found, clear behavior differences became apparent. Younger homeowners in the Millenial generation tend to depend more heavily upon online reference sources such as Home Advisor and Yelp, while older age groups depend more on personal references and recommendations.
Millenials also appear to be the hardest age group to please when it comes to getting estimates, setting appointments and overall satisfaction with the completed project. The survey was answered by 1,000 homeowners who hired a service professional in the past year for a renovation or repair. The findings seem to highlight a younger generation that is more reliant upon indirect contact through digital media rather than person-to-person communication. Home repair specialists will need to adjust how they relate to the customer if they want to have a more positive interaction with the growing number of homeowners that are from the Millenial generation.