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Millennials changing the home improvement game [Video]

Posted on Wednesday, August 3, 2016 at 8:01:52 PM

Millennials represent one of the more important generations in terms of the modern economy, especially as they begin to purchase automobiles, products and homes at a faster rate. Now, a new report found that the millennial generation is having a dramatic impact on the home improvement arena. 

CNBC reported that millennials are most likely to invest in energy-efficient upgrades and purchase from stores that have a greater diversity of product options. What's more, their remodeling behaviors are also a bit different than generations of the past. 

"The general millennial taste trends toward light, airy and open as opposed to small square rooms," PricewaterhouseCoopers analyst Byron Carlock told the news provider. "That tells me that when they do buy [homes], they are going to spend and remodel."

Home improvement financing programs are currently burgeoning, giving millennials and others a wider variety of options and greater accessibility to programs. Working with a local, smaller bank can be the best choice, as these institutions are a bit better positioned to assist in personal loan selection, especially for younger, inexperienced borrowers.