Since the start of the pandemic, more than half of homeowners made improvements to their property, according to Hippo, which noted 71% said they’d continue making the same amount of home improvements moving forward.
Not surprising, given the rise in remote work, 52% of homeowners said they bought office equipment, and 35% spent money on living room décor, the insurer reported.
“The past year’s shift in how we live in our spaces has fundamentally changed the way we take care of our homes with long-term effects,” Rick McCathron, president of Hippo, said in a release. “Our homes are no longer places where we spend minimal time — with our households becoming the primary haven where we work, socialize and rest, we’ve discovered that more people are becoming proactive in taking care of their homes.”
More than 65% of homeowners spent more than $1,000 on improvements and repairs during the past year, with the backyard seeing the most attention, followed by kitchens, home offices and home gyms, according to the insurance company.
Further, the number of homeowners that spent more than $10,000 on improvements and repairs doubled in the past year compared to an average year, Hippo reported.
Among homeowners that had made improvements, millennials were the most proactive in taking care of their homes, according to Hippo. While they were more proactive, the reasons might have been more than mere upkeep. More than 70% of millennials said they completed a project to take a hobby to “the next level.” Producing content, such as music and blogs, was the most common hobby, followed by banking and personal fitness.
In addition, among homeowners that did update their policies in the past year, more than half were millennials. Now, if they can just remember to pay the bill on time.