On top of this, millennials are likely to be completing home improvements with less disposable income or savings than their more mature counterparts, meaning that they are under pressure to achieve more for less.

It is possible that younger homeowners have higher aspirations for the look of their projects, using more expensive materials and finishes. Perhaps inexperience does play a part through false optimism about what can be achieved. It’s a complex picture, not easily unpicked.  

Whatever the reasons, I suspect money management isn’t one of them. As Olivia Rudgard argues in her Guardian article, ‘Stop trashing millennials for not saving enough money – they’d love to, if only they could’, contrary to being bad with money, millennials have to work harder to manage their money in a difficult financial setting. I feel that the same rings true for home renovations.

It’s our experience that millennial homeowners are more willing to educate themselves on what to expect from their renovation projects. We estimate that around 79% of the attendees at our workshops fall into the millennial age group, keen to learn how to manage their projects and budget accordingly.

While there is much speculation around millennial spending habits in the press, when it comes to owning a home it’s clear that younger homeowners have to work much harder to achieve the house that they want. Luckily, if there was a generation able to rise to the challenge, it would appear to be this one.