Renter's Home Improvement: A Look at the "Now" Mindset
Driven by cost and necessity, renters overwhelmingly opt for DIY projects and targeted fixes, fundamentally shifting the home improvement focus from long-term investment to short-term living needs.
Renter's Home Improvement: A Look at the "Now" Mindset
For many, home improvement is an investment in the future—a way to build equity, increase property value, and create a dream space. But what about the millions of renters in the U.S.? Findings from the Home Improvement Research Institute’s (HIRI), "Renter’s Home Improvement Activity," study reveals that for this group, home improvement is less about a long-term investment and more about an immediate, present-focused approach to comfort, safety, and well-being.
The 'Why' Behind the Projects
While homeowners are often driven by discretionary upgrades that increase long-term value, renters are motivated by affordability and immediacy. They are facing similar financial anxieties as homeowners but report greater concern around affordability and job security. This leads to an "essentialist" spending mindset, with renters prioritizing projects focused on immediate repair, safety, and comfort.
HIRI’s data shows that renters are most focused on high-impact interior spaces like kitchens and bathrooms. They're more likely to make targeted upgrades, such as new cabinets and countertops, which provide a significant visual refresh without requiring a major overhaul. This contrasts sharply with owners who balance short-term repairs with strategic, higher-cost renovations for asset preservation.
DIY is the Way
When it comes to getting the job done, renters and homeowners have fundamentally different approaches. Renters overwhelmingly opt for a Do-It-Yourself (DIY) method, driven primarily by cost savings and necessity. While they may have lower skill levels than homeowners, price is a bigger factor than quality in their purchasing decisions. This is in stark contrast to homeowners, who are more likely to hire professionals for broader project scopes and greater confidence in long-term returns.
Even when renters do hire help, they tend to hire specialists for targeted interior tasks rather than engaging broadly for comprehensive renovations. This reinforces the core difference in approach: renters are focused on specific, high-impact fixes, while homeowners are more focused on property stewardship.
Finding Help and Funds
Given their DIY orientation, it's no surprise that renters have distinct research and funding habits. They are heavy users of digital and social platforms, leveraging sites like YouTube and Pinterest for DIY guidance and tips. This contrasts with homeowners are more inclined than renters to consult with contractors, and leverage supplier and manufacturer resources when researching products and projects.
When it comes to financing these projects, HIRI’s data highlights the financial pressures faced by renters. They rely more heavily on borrowing from family than homeowners, who more commonly use traditional credit sources like HELOCs and mortgage refinancing. This reliance on personal networks reflects tighter budgets and limited access to traditional home improvement credit.
In the end, findings on “Renter’s Home Improvement Activities” clarifies ways in which renters are a distinct segment of the home improvement market. Their approach is pragmatic and immediate, driven by a desire for a safer, more comfortable living space rather than a future return on investment. It's an approach that prioritizes the present, one targeted upgrade at a time.
Angi is a proud member of the Home Improvement Research Institute, the only non-profit provider of secondary home improvement research. HIRI membership may be right for your organization, too. Learn more at HIRI.org.