Top 10 Trends from the 2015 Houzz and Home Report

  • Categories:

    Industry Trends

  • Date:

    July 05, 2015

Top 10 Trends from the 2015 Houzz and Home Report



Industry Trends

Houzz released its fourth annual Houzz and Home Report in June. The report, an overview of renovation, custom building and decorating in 2014, is chock-full of useful facts and data. The survey collected information from more than 260,000 Houzz users globally and more than 170,000 respondents in the U.S., representing the largest-ever dataset.

Download the full report here to see who’s remodeling, decorating or building a custom home, the ups and downs of home improvement for Boomers vs. Millennials, what people are spending, trends by region and more.

In the meantime, here are my top 10 trends from the 2015 Houzz and Home Report:

  1. Millennials are active homeowners.
    • Few Millennials own homes, yet the ones who do are outpacing their Baby Boomer parents—and everyone else—in home renovations, decorations and repairs.
  2. But Boomers are still spending the most.
    • In fact, Boomers are spending twice as much or more on kitchen remodels as Millennials.
  3. Homeowners’ go-to resources change as they age.
    • As they age, homeowners begin to rely less on their family and friends and more on service providers—or themselves—when making decisions about home renovations. This should serve as motivation to tell your story effectively, so they’ll be more likely to turn to you when they’re ready to act.
  4. Home improvement challenges vary by generation.
    • Millennials struggle with staying on budget and securing funding/financing; Boomers find it harder to locate products and providers. Are you providing budget-friendly options? Is your brand visible to your target audience?
  5. We’re putting our wants before our needs.
    • Interior remodels—usually discretionary—are outpacing necessary maintenance projects like roofing and exterior paint. Home automation system upgrades for thermostats, lights and electronics also beat out the essentials, while home entertainment purchases aren’t far behind.
  6. Scope is the major driver of kitchen and bathroom remodel costs, and they’re not cheap.
    • Houzz users are spending as much as $48,000 for a new kitchen and $22,900 for a new bathroom. Major kitchen remodels include, at a minimum, replacing all kitchen cabinetry and appliances within the existing footprint.
  7. Many homeowners planning a kitchen remodel spend at least six months gathering ideas.
    • Do you have a strategy to get into their consideration set long before they begin selecting products? If not, you may miss your chance.
  8. One in 20 Houzz users renovated most of their home’s interior in 2014. Wow!
    • In 2014, kitchen, bath and living/family rooms accounted for most interior renovations.
  9. Home pros are a popular bunch.
    • Of the homeowners in this study who renovated their homes in 2014, 84 percent got professional help. About half of those used a general contractor; the other half hired a specialty service provider. Older generations are quicker to hire contractors and design pros than their younger counterparts.
  10. Products marketed as healthy, green or smart aren’t an automatic sell.
    • Renovation considerations like preventing or addressing health concerns, integrating green or sustainable materials and integrating smart technology are still unimportant to many consumers. If you’re marketing these products, you must be able to effectively reach your target audience and show them the benefits and value of your products.

How will you adjust your strategies to account for the latest trends in home renovation, custom building and decorating?