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Wednesday, August 17, 2016
Does Increase in Home Renovation Plans Suggest People Unwilling To Move?
Source: Marketplace
Twenty-eight percent of U.S. homeowners plan to remodel, expand, or otherwise improve their homes in the next 12 months, according to the latest Bankrate Money Pulse survey. Even lower-income homeowners are planning to renovate by using savings, credit cards, or bank loans. Some people might just be sprucing up their houses to sell them, but planning big projects seems to indicate many homeowners plan to stay put and finally tackle projects they put off during the recession. About 52 percent of homeowners planning a project over the next year indicate they want to work on their driveways, decks, patios, pools, landscaping, or fencing. One professor commented that the housing crisis forced many people to give up on the idea of buying a big, fancy house, especially since housing prices have risen out of reach.
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Twenty-eight percent of U.S. homeowners plan to remodel, expand, or otherwise improve their homes in the next 12 months, according to the latest Bankrate Money Pulse survey. Even lower-income homeowners are planning to renovate by using savings, credit cards, or bank loans. Some people might just be sprucing up their houses to sell them, but planning big projects seems to indicate many homeowners plan to stay put and finally tackle projects they put off during the recession. About 52 percent of homeowners planning a project over the next year indicate they want to work on their driveways, decks, patios, pools, landscaping, or fencing. One professor commented that the housing crisis forced many people to give up on the idea of buying a big, fancy house, especially since housing prices have risen out of reach.
Read the full story
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