The Home Improvement Boom Isn’t Letting Up Soon
July 9, 2021 The pandemic spawned a drive to spruce up the home and that desire is continuing. Half of U.S. homeowners recently surveyed say they plan to spend more on home improvements in 2021 than they did last year, according to the latest BMO Real Financial Progress Index, a quarterly indicator measuring consumer sentiment about finances. Renovation projects are expected to continue to rise too. Two-thirds of more than 2,500 U.S. homeowners surveyed said they plan to tackle home improvements this year, the index shows. Many homeowners are using cash to complete these home renovation projects. Fifty percent of homeowners said they were using cash to pay for these projects, followed by credit cards (24%), line of credit (12%), and loans (12%), the index shows. Real estate pros could help as this remodeling wave continues by offering homeowners information into how the renovations they do can affect their home’s ...