Page 44 - Green Builder Remodeling Field Report 2021
P. 44

REVISION HOUSE AUSTIN PROJECT


        What do millennials want




        when it comes to housing?





        The Austin project offers a fairly
                                               FAQs
        typical case study of the
        millennial buyer experience.           Q: What remodeling projects are home-  Q: Who is doing the most home
        Here’s how these new                   owners investing in?               improvement?
                                                                                  A: Millennials lead the home improvement
                                               A: According to a recent survey of
        homeowners prioritize their            remodelers, consumers are investing   charge, with approximately 82% implement-
        remodeling plans.                      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,
              JEROME FOSTER II                 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
              BRENT WEBB                       ■
                                                 filtration systems               first-mover millennials as a fundamental
              KRISTEN FULMER                   ■   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
        All facts and figures in this article come   and cooling bills with a new energy-effi-
        from COGNITION Smart Data.             cient HVAC system.


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