Facing inventory woes, millennials turning toward fixer-uppers

  • First-time homebuyers are spending 22 percent more on renovations than in 2015.
  • Although baby boomers spend more on renovations, millennials have the largest increase in renovation spending (7 percentage points more) from 2015.

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According to Houzz’s 2017 House and Home report, millennials and first-time buyers aren’t letting low inventory woes keep them down; instead, they’re embracing fixer-upper homes and renovating them to meet their needs.