{"id":15281,"date":"2019-04-18T14:40:04","date_gmt":"2019-04-18T14:40:04","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=15281"},"modified":"2019-04-18T14:40:06","modified_gmt":"2019-04-18T14:40:06","slug":"are-you-saving-enough-for-remodeling","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/are-you-saving-enough-for-remodeling\/","title":{"rendered":"Are you Saving Enough for Remodeling?"},"content":{"rendered":"<h2>Are you Saving Enough for Remodeling?<\/h2>\n<div id=\"attachment_15282\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/www.anthonydidonato.net\/wordpress\/2019\/04\/18\/are-you-saving-enough-for-remodeling\/attachment\/04182019\/\" rel=\"attachment wp-att-15282\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-15282\" class=\"size-full wp-image-15282\" src=\"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2019\/04\/04182019.jpg\" alt=\"Are you Saving Enough for Remodeling?\" width=\"2560\" height=\"1515\" \/><\/a><p id=\"caption-attachment-15282\" class=\"wp-caption-text\">Are you Saving Enough for Remodeling?<\/p><\/div>\n<div class=\"pane-node-body pane pane--nodebody\">\n<div class=\"pane__content\">\n<div class=\"field field--body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>Homeowners significantly underestimate the costs involved when planning a home improvement project, finds a new study from Discover Home Equity Loans, based on a survey of 1,200 Americans.<\/p>\n<blockquote class=\"sidebar-quote\"><p><strong>Estimated Cost of Common Interior Remodeling Projects<\/strong><\/p>\n<ul>\n<li>New master suite\/owner\u2019s suite: $125,000<\/li>\n<li>Kitchen upgrade: $35,000<\/li>\n<li>Complete kitchen renovation: $65,000<\/li>\n<li>Bathroom renovation: $30,000<\/li>\n<li>Adding a new bathroom: $59,000<\/li>\n<li>Basement conversion to living area: $40,000<\/li>\n<li>Attic conversion to living area: $75,000<\/li>\n<li>Insulation upgrade: $2,100<\/li>\n<li>New wood flooring: $5,500<\/li>\n<li>Hardwood flooring refinish: $3,000<\/li>\n<li>HVAC replacement: $7,475<\/li>\n<\/ul>\n<p>&nbsp;<\/p><\/blockquote>\n<p>Eighty-two percent of consumers believe the home they own is a financial asset, the study says. As such, they want to tackle home improvement projects to increase the value of their home even more. More than half\u201452 percent\u2014of consumers say they plan to take on a home improvement project in the next year. Kitchen and bathroom remodels lead in projects. (Read more:\u00a0<a href=\"https:\/\/magazine.realtor\/daily-news\/2019\/04\/16\/design-tv-shows-are-inspiring-optimistic-home-renovators\" data-di-id=\"di-id-4ec1272a-9f80d0b2\">Design TV Shows Are Inspiring Optimistic Home Renovators<\/a>)<\/p>\n<p>But many consumers have failed to save enough. Sixty-four percent of consumers say their home improvement project will cost under $15,000. However, bathroom remodels can cost anywhere from $19,000 upwards to $61,000; significant kitchen remodels can cost upwards to $125,000, according to the study.<\/p>\n<p>Given their low estimates for projects, homeowners are falling short in paying for their projects. Only a quarter say they\u2019ll have enough funds to cover the likely cost of the project, the study showed.<\/p>\n<p>\u201cHome improvement projects can quickly add up and oftentimes cost more than someone anticipates,\u201d says PK Parekh, senior vice president of Discover Home Equity Loans. \u201cWhich is why people should be financially prepared and determine which payment method makes the most sense within their own financial situation.\u201d<\/p>\n<p>Homeowners differ on how they\u2019re financing their home improvement projects. Thirty-four percent prefer to use cash for a home improvement project, followed by 23 percent who say they plan to use a credit card. Other owners say they are considering borrowing against the equity in their home, such as through a home equity line of credit (18 percent), home equity loan (13 percent), or cash-out refinance (7 percent).<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"pane-node-field-news-source pane pane--nodefield-news-source\">\n<div class=\"pane__content\">\n<div class=\"field clearfix field--news-source\">\n<div class=\"field-label\">Source:<\/div>\n<div class=\"field-items\">\n<div class=\"field-item even\">\u201c<a href=\"https:\/\/www.discover.com\/home-equity-loans\/blog\/way-to-pay-for-home-renovations\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-di-id=\"di-id-ba2c8d58-5a283048\">New Discover Survey Shows Homeowners Ready to Renovate\u2014So What\u2019s Holding Them Back?<\/a>\u201d Discover (April 16, 2019)<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Are you Saving Enough for Remodeling? Homeowners significantly underestimate the costs involved when planning a home improvement project, finds a new study from Discover Home Equity Loans, based on a survey of 1,200 Americans. Estimated Cost of Common Interior Remodeling Projects New master suite\/owner\u2019s suite: $125,000 Kitchen upgrade: $35,000 Complete kitchen renovation: $65,000 Bathroom renovation: &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/are-you-saving-enough-for-remodeling\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-15281","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Are you Saving Enough for Remodeling? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/are-you-saving-enough-for-remodeling\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/are-you-saving-enough-for-remodeling\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/are-you-saving-enough-for-remodeling\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Are you Saving Enough for Remodeling?\",\"datePublished\":\"2019-04-18T14:40:04+00:00\",\"dateModified\":\"2019-04-18T14:40:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/are-you-saving-enough-for-remodeling\\\/\"},\"wordCount\":372,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/are-you-saving-enough-for-remodeling\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/04182019.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/are-you-saving-enough-for-remodeling\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/are-you-saving-enough-for-remodeling\\\/\",\"name\":\"Are you Saving Enough for Remodeling? 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. 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