How much attention do you pay to surveys when considering a kitchen renovation? Does it matter what other people think? Or do you just want to get ahead with your own kitchen renovation project regardless?
Here at Kitchen Warehouse Ltd we were actually quite curious ourselves after taking a look at the results of the Houzz & Home Survey published late last year. Compiled by the largest online interior’s discussion site Houzz UK, it looked at the home improvement activities and plans of more than 7,500 house owners in the UK. As you can no doubt imagine, here at Kitchen Warehouse Ltd we were particularly interested in the kitchen renovation section.
So, what did it tell us? Well, interestingly, when it comes to DIY and kitchen renovation projects there are pretty large discrepancies between what Baby Boomers (55-74 year-olds, Generation X (40-54 years) and Millennials (ages 25-39) are all looking for.
Kitchen renovations and technology
Millennials, for instance, are far more likely to plan and prioritise smart technology innovations in their kitchen renovations. That’s 16 per cent of them compared to 13 per cent of Gen X and 11 per cent of Baby Boomers.
Smart technology covers such items as home assistants (eg Alexa), fridges that will pre-order items that have run out, and smart thermostats. In fact, one in eight homeowners say they prioritise smart technology when planning a kitchen renovation.
Kitchen renovation spend rising
Homeowners are spending more on kitchen renovations than ever before, according to the survey. That is an increase of 11 per cent more than the previous year, resulting in a median spend of £10,000.
And the trend has mostly been driven by older generations. Of those who responded to the survey, both Baby Boomers and Gen X were responsible for 74 per cent of renovation activity in general last year. That resulted in a median spend of £20,000. Around 46 per cent said they planned to either start or continue renovating the following year.
And, on the subject of money… 80 per cent of renovations are paid for using the homeowner’s savings. Credit cards and store cards pay for 18 per cent of renovations, while 16 per cent of respondents in the Houzz survey paid for the renovation with equity released from a house sale. Millennials more than any other generation are most likely to use credit cards as payment.
Houzz’s Principal Economist Nino Sitchinava attributes the growth in renovation activities to “pent up demand.”
He added: “spend on discretionary projects such as kitchens continues to grow, fuelling home-related investments.”
Kitchen renovation reasons
The reason homeowners chose to renovate rather than sell up and buy a new property, varied between ages. Baby Boomers and Gen X, for instance, chose to renovate because they didn’t want to move. They had lived in the same locale for decades and didn’t fancy having to ‘start again’ in a new neighbourhood. This fact even outweighed the ROI of their renovation. Understandably, for Millennials, the main reason for staying put and renovating was financial. They simply couldn’t afford to move.
Who does the work?
Millennials and Gen X are more likely to hire a professional to get the work done. Baby Boomers take pride in doing the renovation project themselves. That could be because many of them will be retired and have the time. But the ‘waste not, want not’ generation may also have more of a ‘can do’ attitude than their offspring. Electricians are the professionals most sought after (92 per cent), with plumber, carpet layers and flooring fitters next (61 per cent, 54 per cent and 44 per cent respectively).
And as for next year? Well, we imagine quite a few kitchens were refurbished during lockdown. So, expect to see kitchen spend figures even higher in the next survey.
Get in touch today
Planning a kitchen renovation yourself? Then do take a look through our website at our vast range of kitchen cabinets and replacement doors. Regardless of whether your preference is for a Shaker kitchen, sleek and glossy contemporary cabinetry or a handle-less minimalist look, we are sure to have something to suit.
Here at Kitchen Warehouse Ltd we also stock must-have accessories, such as drawer dividers, drawers, waste bins, mixer taps and yes – even the proverbial kitchen sink. To get advice and/or information on any of our products then feel free to contact the team, tel: 01765 640000 or drop us an email via email@example.com.