Page 44 - Green Builder Remodeling Field Report 2021

REVISION HOUSE AUSTIN PROJECT
What do millennials want
when it comes to housing?
The Austin project offers a fairly
typical case study of the
millennial buyer experience.
Here’s how these new
homeowners prioritize their
remodeling plans.
JEROME FOSTER II
BRENT WEBB
KRISTEN FULMER
All facts and figures in this article come
from COGNITION Smart Data.
44 GREEN BUILDER REMODELING FIELD REPORT
FAQs
Q: What remodeling projects are home- Q: Who is doing the most home
owners investing in? improvement?
A: Millennials lead the home improvement
A: According to a recent survey of
remodelers, consumers are investing charge, with approximately 82% implement-
in energy efficiency, indoor air quality, ing at least one home improvement project
and smart water solutions. Here are
in 2021.
the specific remodeling project types,
according to COGNITION Smart Data: Q: What types of remodeling projects are
Energy-Efficiency Retrofits millennials doing?
Installing solar A: 52% of millennials have implemented
■
Installing super-efficient heat pump remodeling projects that have increased
■
water heaters and HVAC systems home performance and sustainability, includ-
Installing EnergyStar appliances ing installing solar panels, smart lighting,
■
Installing smart thermostats and eco-friendly appliances, and heat pump
■
energy monitoring systems technology.
Replacing old roofs with energy-effi-
■
cient metal and/or cool roofs Q: What percentage of the millennial gen-
Sealing attic venting eration will pay for a healthy home?
■
Putting ducts inside conditioned space A: 85% of millennials said that they would pay
■
Adding a radiant barrier more for a healthy home.
■
Installing LED lighting and natural
■
lighting via tubular skylights Q: Do millennials care about indoor air qual-
Replacing inefficient windows and ity (IAQ)?
■
doors A: 92% of millennials believe that good IAQ is
Upgrading pool pumps to more effi- extremely or very important.
■
cient models
Indoor Air Quality Retrofits Q: What is as important as “location” to mil-
Upgrading vent fans and range hoods lennials when they are home shopping?
■
Installing ERVs and whole-home air A: IAQ is now seen by early-adopter and
■
filtration systems first-mover millennials as a fundamental
■ Installing proactive IAQ monitoring homeowner right, and is as important as the
systems location to some home buyers.
Water retrofits:
Installing leak detection and water Q: What health and wellness categories are
monitoring systems millennials interested in?
Installing spot or whole-home water A: Millennials are particularly aware of health
filtration systems and wellness, and they’re looking for non-
toxic products, antimicrobial surfaces, and
Q: How much can you save on heating proactive IAQ systems that will keep their
and cooling bills with a new energy-effi- homes healthy.
cient HVAC system?
A: Up to 20% can be saved on heating
and cooling bills with a new energy-effi-
cient HVAC system.