With high mortgage rates and the lasting effects of inflation, according to a Hippo Housepower Report, 55% of homeowners plan to take on more DIY home maintenance projects in 2025 as unexpected repairs strain budgets and drive creative solutions.
83% of homeowners faced unexpected repairs in 2024. A rate nearly doubled from 2023, with 46% of homeowners spending over $5,000 on those repairs. More than half of homeowners surveyed are shifting from calling a contractor to taking on home repairs DIY style, as a result, hoping to trim costs and gain control over their home repair budgets.
According to Fortune, It’s not just repairs driving the DIY boom. High mortgage rates and inflation are keeping would-be buyers in their current homes.
According to a Discover Home Loans survey, buying a new house is becoming an out-of-reach proposition for many. Eighty-four percent of homeowners say that high interest rates have impacted their decision to buy, while 46% say they are no longer looking to move at all. Fifty-seven percent of those surveyed are now planning DIY home improvement projects in 2025.
But DIY repairs are not just about saving money. According to a This Old House survey, your generation determines how willing you are to make repairs yourself. It states that 60% of millennials and 56% of Gen Z homeowners have renovation plans for 2025, compared to just 32% of baby boomers.
