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Professional construction companies in the Oklahoma City area such as Alex’s Construction who specialize in driveways, patios, concrete staining and retaining walls are keenly aware of the growing influence of Millennials in the home-improvement market. With this group representing nearly 50% of the homebuying power in the US market, the need to better serve this demographic is clear.
Market research and advertising companies work hard to monitor and identify the buying habits and specific needs of the Millennial age group, home improvements is naturally one of the areas of unique interest.
A recent Millennial research article, related to home purchasing and remodeling, derived by Better Homes & Gardens; focused its survey on tracking trends, attitudes and behaviors of homeowners across the United States. This research article, focused on Millennials, found that homeowners between the ages of 22 to 39, who were first time homebuyers living in their Oklahoma City area home for five years or less.
Combining the information contained within this article, as well as requested services such as driveways, patios, concrete staining and retaining walls made to Alex’s Construction serving in the Oklahoma City; we found several pieces of information that we found both useful and informative:
Relating to the article: 85% of surveyed Millennials viewed home ownership as an investment, rather than as part of American culture. Millennials viewed home ownership more as a financial investment; noting the practicality of updating older Oklahoma City area homes. The study also identified that Millennials preferred to pay for projects from their savings rather than taking out a loan. The preference was to have multiple smaller projects done rather than taking on one complete remodeling project that would require a loan.
The favorite home improvement projects that many sought towards a better curb appeal were: having the driveway redone, adding a nice patio for entertaining, utilization of stained or stamped concrete and retaining walls to assist with landscaping.
Alex’s Construction concurs with the study’s findings that Millennials were drawn to more modest, midsize homes in the Oklahoma City area around 2,000 sq ft.; again, keeping a mindset towards the budget by not having a home greater than the need. Millennials sought to improve their living space and practical needs such as updates and flooring.
Turning unused areas such as basements, attics and the patio into a usable space was also a popular remodeling trend for the thrifty shopper looking for a sound investment.
As a result, Millennials were more prone to purchase older homes in lower income areas of Oklahoma City, applying their savings to home improvements.
Millennials also are known to be smart shoppers when it comes to professional services; taking the time to look through reviews, cautiously choosing the right professional construction service that will provide a great service at an affordable price.
Financially cautious Millennials in the Oklahoma City area are more willing to pace themselves when it comes there home-improvement goals. They will assess the home as a whole, but focus on projects individually as to make sure that their budget is being spread correctly. Appreciating value, Millennials are known to appreciate a construction company that uses top-quality materials backed by a labor warranty, such as the business model that Alex’s Construction offers.
Millennial homeowners in Oklahoma City enjoy being part of the complete process and are found to be willing to sacrifice certain luxuries so that the overall project can be completed within budget. While half of Millennials say that do-it-yourself projects are adequate, this number is steadily giving a way to specialists that provide craftsmanship and quality that are not known to be found in the box store or do-it-yourself environments.
Alex’s Construction understands the needs of the different homeowners in the Oklahoma City area. Understanding these specific needs for the different types of homeowners, homes and areas surrounding Oklahoma City is key to our reputation in the construction industry.
Because we understand current trends, as well as, the style of the home based upon its location; it provides us with a unique perspective that homeowners across the Oklahoma City area have come to appreciate. Because the company owner, Alex, provides all estimates for remodeling and concrete projects i, t provides a central point of consistency for each project that we take on.
While we place an emphasis on top quality, namebrand products and unmatched service in the Oklahoma City area we also customize each estimate based upon the needs and budget of the homeowner. Be sure to contact Alex’s Construction today for your estimate.