With mortgage rates and home values remaining stubbornly high, home renovation has exploded in popularity. Homeowners are calculating that it makes more sense to improve their current home instead of buying a new one.
This is especially true for Gen Z buyers, 90% of whom want to buy a home, but face steep financial obstacles. Once they finally get into a fixer-upper or starter home, they start customizing their space. One recent survey found that saving money for home renovations was the second most common financial goal among recent buyers after purchasing their home.
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