Going the do-it-yourself route on your next home repair or remodeling project could cut costs substantially — that is, provided you’re really as handy as you think.
Consumers have DIY-ed some 113 million home improvement projects in recent years, according to a new NerdWallet analysis of Census Bureau data.
NerdWallet looked at data from the Census Bureau’s biennial American Housing Survey, which last polled consumers in 2017 on home projects completed “in the last two years.” NerdWallet and The Harris Poll also surveyed 2,001 U.S. adults, including 1,353 homeowners, earlier this fall.
Younger homeowners were more likely to tackle projects on their own, with those ages 25 to 29 DIY-ing 59 percent of the time. That could be because student-debt-laden millennials are more apt to find the homes in their price range need work, or because they can’t afford to hire out those improvements, said Holden Lewis, a home expert with NerdWallet.
“The younger you are, you tend to be making less money and have less savings, and so you’re doing a lot yourself,” he said.