{"id":19238,"date":"2021-08-09T11:54:11","date_gmt":"2021-08-09T11:54:11","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19238"},"modified":"2021-08-09T11:54:11","modified_gmt":"2021-08-09T11:54:11","slug":"housing-market-drives-home-fix-ups","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/housing-market-drives-home-fix-ups\/","title":{"rendered":"Housing Market Drives Home Fix-ups"},"content":{"rendered":"

Housing Market Drives Home Fix-ups<\/h1>\n
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More homeowners say they plan to renovate their homes this year, and they are increasingly planning to take advantage of higher home prices and use their home\u2019s equity to complete the renovations, according to Bank of America\u2019s \u201c2021 Homebuyer Insights Report: Home Improvement and Equity Spotlight.\u201d<\/p>\n

As home prices surge, more homeowners are tapping HELOCs to make significant home improvements. Gen X homeowners (ages 44 to 56) are the most likely to report using HELOCs for home improvements, the survey finds.<\/p>\n

\u201cGreater reliance on the home as both a workspace and a family center has led many owners to tailor their homes to their needs,\u201d the report says.<\/p>\n

The majority of respondents said they\u2019re approaching their home improvements as a way to bring greater enjoyment to their living space (67%)\u2014more so than seeking to increase their home\u2019s value (33%). \u201cTraditionally, home improvement projects have been measured through the lens of return on investment, but we\u2019re seeing that the emotional connection to one\u2019s home is just as important,\u201d says Ann Thompson, specialty lending executive at Bank of America.<\/p>\n

Remodeling Trends<\/strong><\/p>\n

The survey uncovered several trends with home improvement projects, including:<\/p>\n