Trends in Home Ownership, Improvements, and Smart Tech Adoption

As the landscape of homeownership continues to shift, so do consumer habits around home improvements, smart technology, and utility usage. Whether it’s younger generations making their first investments in DIY projects or older homeowners embracing smart tech for convenience, the ways people interact with their living spaces are evolving. Our latest Bauer Insider’s report dives into these key trends to uncover what’s driving consumer behavior today.

Home Ownership and Living Situations

Where people live and how they own their homes varies widely by age. Older generations are far more likely to own their homes outright, with a remarkable 71% of those aged 55 and older having fully paid off their mortgages. Meanwhile, those between 35 and 54 are still working towards that milestone, with only 23% in the same debt-free position. As for the youngest adults, nearly half (48%) of 16-24-year-olds still live with their parents.

Housing types also reflect these generational differences. 28% of those over 55 live in detached houses, while 35-54-year-olds are more commonly found in terraced homes (36%). Younger adults tend to live in flats or apartments (26%).

Home Improvement Spending and Trends

Younger generations in particular anticipate spending big on home improvements, with projected costs reaching up to £29,000 over the next year. Across all age groups, 68% of consumers are planning some form of home improvement, with most budgeting between £1,000 and £5,000, a 22% increase since 2021.

While in-store purchases remain dominant, with 67% preferring to shop for DIY materials in person, nearly half of consumers would rather hire a professional to handle the work instead (45%).

Smart Home Technology: Adoption and Barriers

Smart home technology is gaining traction, with 34% of consumers actively looking to purchase or install smart devices. In fact, 27% have used a smart home device in just the past three months, and more than one in four rely on smart meters or apps to monitor their utility usage, a feature that helps consumers cut costs where needed.

Despite this growing interest, some hurdles remain. High prices deter 69% of consumers, even though over a third are still open to the idea of incorporating smart tech. Additionally, 41% feel overwhelmed by the complexity of new technology, proving that ease of use remains a crucial factor in adoption.

Home Improvement Inspiration Sources

How consumers find inspiration for their home projects varies by age. Younger adults, aged 16-34, turn to digital sources such as websites, social media, YouTube, and online magazines. They are less influenced by friends and family but frequently visit home improvement stores and consult interior designers for ideas.

The 35-54 age group leans more on personal connections, relying on word-of-mouth recommendations from family, friends, and blogs. Traditional media, including magazines and websites, also play an important role. Meanwhile, those over 55 find the most inspiration in physical stores, often consulting staff for advice. TV shows and magazines also remain strong sources of motivation for this group.

Consumer Priorities When Choosing Home Improvement Products

Sustainability and customer service are top considerations when choosing home improvement products. Nearly half of consumers emphasizse the importance of environmentally friendly options, while strong recommendations and quality service continue to shape purchasing decisions.

Loyalty Programs and Discounts

Savvy shoppers are making the most of discounts, with 19% of consumers having participated in loyalty programs or used promotional codes for home improvement purchases in the last year.

Future Home Improvement Plans

Looking ahead, 75% of consumers are planning at least one or two home improvement projects in the next 12 months. Gardens are the top priority for 28% of homeowners, while 23% are focusing on bathrooms and 18% on bedrooms.

Consumer Research and Purchase Behavior for Smart Home Tech

When shopping for smart home technology, consumers are meticulous in their research. A solid 60% of buyers base their decisions on customer reviews, while product specifications, expert opinions, and ratings also play key roles. Online research dominates, with 61% of consumers turning to the internet for information, but in-store research has seen a 12% increase since 2021, suggesting that hands-on experience still holds value.

Homeownership and improvement habits are changing, with younger generations eager to invest in their spaces while older homeowners prioritise efficiency and comfort. The rise in smart home technology presents a significant opportunity for brands, though affordability and user-friendliness remain key concerns. As consumers continue to embrace digital and in-store research, companies must meet them where they are, offering products, inspiration, and services that align with their evolving needs.