As a homeowner, you typically want to make the place your own by doing home improvements. But what projects are usually done? And for #MoneyMonday, we’ll look at how it’s paid for.
Projects are typically done on a large scale. Here’s what gets tackled:
- 43% focus on outdoor projecs
- 31% are bathroom remodels
- 28% on the unfortunate home repairs
- 26% done on kitchen remodels
- 16% narrow in on the garage
- 5% are about the pool
And how are they paying for it? A surprising 62% of homeowners tap into their savings! (Way to go, financially savvy owners!) For those who don’t have the cash resources, they turn to the following to cover their house project:
- 30% use a credit card
- 13% take out home equity line of credit
- 10% use a vague “other” method of payment
- 9% liquidate or pull money from investments
- 5% use a home improvement loan
As far as what you should focus on if you’re thinking of improving your house for the purpose of putting it on the market? Here’s projects in 2017 that had the best resale ROI.
And call me if you’re selling in the San Diego County! I’d love to have an opportunity to interview for the position of selling your home! John A Silva — 619-890-3648.
This infographic can be found here at CAR.org.