Project Priorities of Recent Home Buyers

Which projects do recent homebuyers prioritize?

Which projects do recent homebuyers prioritize?

When it comes to learning about the home improvement projects new homeowners — especially first-time buyers — undertake and the projects completed or planned for newly purchased homes, there’s no better resource than the Home Improvement Research Institute’s (HIRI) Recent Home Buyers Study. Conducted every other year since 2004, the study tracks recent homebuyer behavior regarding home improvement projects.

So, who are these buyers? First-time homebuyers (36 percent of buyers within the past year) tend to buy older, less expensive homes. They are also more likely to be millennial-aged females with lower incomes. Lower incomes translate into less buying power, which translates into more price constraints and offers a valid reason why older homes are often a more realistic option. Not to mention that low credit scores and hefty down payments can also be problematic for first-time buyers.

Learn more about the differences between homebuyers and their motivations, challenges and home improvement plans when you join HIRI. As a member, you’ll have unlimited access to this study and other in-depth, exclusive research, peer-to-peer networking, event registration discounts and more. JOIN NOW

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