Generation Z, those born between 1997 and 2012, is now the nation’s most “hands-on” generation of homeowners.

Recent findings by the research team at This Old House indicated that 75 percent of Gen Z homeowners have taken on home improvement projects themselves after buying an older home.

“This Old House” is an educational home improvement TV show that began in 1979 and is still broadcast nationally on PBS. It has also expanded into a same-named website and a magazine that help homeowners with a variety of house projects.

Taelor Candiloro, a data analyst with the This Old House research team, told The Epoch Times that for most Gen Z buyers, an older home that requires updates is their most affordable option.

“This could be their only hope in this market, as older homes needing work are usually listed at much lower prices,” she said.

“For those who are serious about home ownership, they’re willing to do whatever it takes to make that happen. They’re choosing a tear-out instead of a turnkey.”

The research team surveyed 2,000 homeowners across the United States this year and discovered that 77 percent of Gen Zers intend to stay in their current homes long-term.

However, this group is also the one that struggles the most with the financial burdens of maintaining “fixer-upper” homes, compared with older generations. Misjudging repair costs and worrying about finding trustworthy contractors were the top sources of stress for Gen Z homeowners.

“I think they also have to recognize the limits of what they can do themselves,” Candiloro said.

While cosmetic projects such as painting may be simple, she said, renovating kitchens and bathrooms may often require professionals such as plumbers, electricians, and carpenters.

“A lot of them did underestimate costs, but as long as the home is livable, they’re willing to deal with outdated kitchens and bathrooms while saving for those upgrades.”

The survey also found that 69 percent of Gen Z homeowners had regrets about taking on do-it-yourself projects, citing escalated costs and poor budgeting. They are also the most likely to take on debt for upkeep and to struggle with mortgage payments and property taxes.

The survey indicated that 87 percent of Gen Z homeowners completed a renovation or repair project in the past three years, second only to Millennials—those born between 1981 and 1996—at 89 percent.

While Gen Zers and Millennials stressed out about contractor reliability, baby boomers’ top worry was a lack of DIY skills to take on projects.

Gen Z was also found to be the group most likely to purchase an older home needing renovations.

“They are willing to break into the market however they can and in most cases, they’re in it for the long haul,” Candiloro said. “They can live in it while they renovate and continuously work on their ‘forever’ home.”

(Courtesy of This Old House)

Mark Triglione, president of the Greater Boston Association of Realtors, told The Epoch Times that Boston’s housing stock is among the oldest in the nation, and many of his recent younger buyers are concentrating on the “fixer-uppers.”

“I think we’re starting to see a revival of the DIY spirit because a lot of Gen Z buyers are watching these home projects on YouTube, Instagram, and TikTok,” he said.

“It seems like anyone under 30 might be willing to take on these types of renovations.”

Triglione said his clients range from Gen Zers to baby boomers, and they can typically save tens of thousands of dollars by purchasing older homes that need some work.

Greater Boston’s single-family median sales price currently stands at $990,000, an all-time high. Inventory is now at a 2.5-month supply, which is much lower than the neutral level of six months, making it a seller’s market.

“If properties are priced right, they’re still selling quickly, and that creates competition for those younger buyers with limited finances,” he said.

Historically, Triglione said, New England homes tend to be among the oldest in the nation, offering more opportunities for DIY projects.

“If younger homebuyers choose a property with ‘good bones’ and do the upgrades either themselves or using qualified contractors, it’s a great opportunity to build sweat equity,” he said.

Triglione recommends that potential buyers of “fixer-uppers” consult a general contractor before committing to a purchase, so they can get a realistic estimate of how much they’ll need to spend.

“Sometimes people do change their minds about investing in an older home needing repairs, because the scope of the work can be overwhelming,” he said.

According to Angi, a national service that connects homeowners with contractors, the average cost to renovate a home in the United States ranges from $19,483 to $88,379, depending on the type and extent of the renovations.

The Angi website lists cost ranges for various updates, with kitchen remodels being the most expensive, at $14,500 to $40,500. Basement remodels are next, ranging from $12,000 to $35,000, followed by new bathrooms, which cost $6,500 to $28,000.

General contractors typically handle planning, designing, completion, and managing inspections. They may also hire subcontractors such as plumbers and electricians. As a rule of thumb, contractors’ labor costs account for 40 percent to 50 percent of the overall project costs.

Comparing average renovation costs nationwide, Angi found that homeowners in San Francisco pay the highest prices, at $56,500, compared with homeowners in San Antonio, who typically pay $35,900.

This Old House researchers also found that nearly one in five Gen Zers regretted not knowing how to make repairs themselves.

The teams’ recommended tips for any generation include budgeting for routine maintenance, knowing your limits, and taking the time to research and vet your contractors.