Millennials Choose Joy Over Resale Value

- A recent survey found that 76% of homeowners are decorating for themselves rather than prioritizing market trends. About a third of these homeowners plan to stay in their homes for the long haul, while a quarter prioritize joy because they spend so much time there. - The trend extends to those planning to sell, with 63% of homeowners currently looking to sell still prioritizing projects that bring them personal joy over those that might attract future buyers. - Over 40% of millennials are willing to lose money on a renovation if it increases their happiness in the home. This generation leads in home improvement spending, with one in five spending more than $5,000 annually on projects. - Social media platforms like Instagram and TikTok have fueled this trend by democratizing design and shifting preferences toward more authentic, lived-in spaces rather than picture-perfect interiors. This has led to a rise in DIY culture and the rapid spread of micro-trends. - Popular "joy-first" projects include adding swimming pools, home gyms, built-in bookcases, and dedicated hobby rooms. Requests for hot tubs have seen a 135% increase. - In contrast to the neutral palettes favored for resale, current trends driven by personalization include bold colors like emerald green and sapphire blue, as well as eclectic design that mixes furniture from different eras and styles. - This focus on personalization is reflected in the growing market for customized home decor, which is projected to reach $330.6 billion by 2034, growing at a CAGR of 7.2%. - While Baby Boomers have historically been the most frequent renovators, millennials are now more likely than any other generation to remodel any part of their home.