Recent data from Opendoor real estate shows that Americans now spend $5,635 each year on home renovation projects, -plus an additional $1,599 on home decor. However, those averages differ between generations.

Based on a survey of more than 1,000 American represented homeowners, Opendoor’s latest home decor stats prove just how differently generations react to decor trends, and spending.

Generational differences

Millennials are more focused on remodeling, the new data from Opendoor indicates. Millennials spend $6,611 each year on home projects compared to baby boomers’ $4,168.

Meanwhile, 73% of millennials are planning a kitchen remodel in 2024; only 45% of baby boomers are. Regardless of baby boomers’ hesitancy to remodel, though, updated kitchens are especially attractive to the demographic. Seventy-one percent say they prefer an updated kitchen which includes features like new cabinets, counters, and floors.

Design preference also varies significantly between millennials and baby boomers. While 69% of millennials are more focused on changing the color of their front door to enhance curb appeal, only 38% of baby boomers would do the same.

Overall, millennials seem to prefer more vintage aesthetics. They typically opt for original features such as wood paneling or brick fireplaces, while baby boomers do not usually go for the vintage look. Additionally, Opendoor found millennials find greater appeal in contrasting color palettes, like white with black accents (16%), while baby boomers gravitate towards the beige/tan look (31%).

However, one thing entices both millennials and baby boomers alike; the right layout/floor plan. Both agree that the right layout, such as an open floor plan, will create a natural flow and make all of the difference.