Home Improvements And Purchase Of Smart Devices Has Been A Growing Trend During The Pandemic
Hippo, the home insurance group, recently released findings from a national survey of 1,000 U.S. homeowners conducted with Ask Your Target Market (AYTM). The main outcome of the survey was that more owners invested in customization, home improvements, and repairs now when compared to pre-pandemic times. Here are a few highlights of the results. It was noted that about 12.3% of the homeowners bought a new property or home within the last year.
More than half (54%) of homeowners have made improvements to their property since the start of the pandemic.
Two-thirds (66%) of homeowners spent more than $1,000 on home improvements and home repairs in the past year. About 71% of homeowners mentioned that they will continue making the same amount of home improvements moving forward as they did over the past year.
More than 50% of homeowners spent money on purchasing office equipment due to work from home scenarios. Smart home equipments were in high demand throughout the pandemic. Nearly half of homeowners (44.6%) spent money on smart home products in the past year. 71% of millennials purchased smart Wi-Fi compared to only 6.7% of boomers who purchased smart Wi-Fi. The main personal hobby for millennials that was taken up during the pandemic was producing content, baking, and personal fitness.
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