Competition seen as home-spending motivator
Competition among neighbors is a major catalyst behind spring home improvement spending in America, according to a recent survey commissioned by The Home Depot.
Conducted by the Wakefield Research, the survey asked 1,000 people what projects they are planning this spring along with what is the motivation is behind the projects.
Among millennials, 70% said they felt pressure to complete home improvement projects while nearly 50% said they were completing projects to “outshine” their neighbor, according to The Home Depot.
Survey results also indicated that parents tend to one-up their neighbors more than non-parents, including new fence or decking plans. The study also found that millennials are more likely than baby boomers to buy new furniture or refresh their décor.
Gardening, yardwork, and painting were the top results for outdoor projects with 89% of survey respondents saying they tried to outdo a neighbor’s project with a new outdoor project of their own while 62% focused on indoor upgrades. Top indoor home improvements include painting, redecorating, and new flooring.
Conducted by the Wakefield Research, the survey asked 1,000 people what projects they are planning this spring along with what is the motivation is behind the projects.
Among millennials, 70% said they felt pressure to complete home improvement projects while nearly 50% said they were completing projects to “outshine” their neighbor, according to The Home Depot.
Survey results also indicated that parents tend to one-up their neighbors more than non-parents, including new fence or decking plans. The study also found that millennials are more likely than baby boomers to buy new furniture or refresh their décor.
Gardening, yardwork, and painting were the top results for outdoor projects with 89% of survey respondents saying they tried to outdo a neighbor’s project with a new outdoor project of their own while 62% focused on indoor upgrades. Top indoor home improvements include painting, redecorating, and new flooring.