Homeowners stay home for holidays and renovate
Modernize.com, a leader in the home improvement and home services industry, releases results from a recent survey of 5,000 homeowners conducted between September and October, 2020. The findings show:
- 76% of respondents will not travel this holiday season
- 28% will pursue exterior home improvement projects
- 17% will pursue both interior and exterior home renovation projects
Survey responses suggest that nearly half of homeowners may apply funds to home improvement projects that might ordinarily be spent on holiday travel. See the complete results: Home improvement for the holidays
Home renovation spending planned
- 41% plan to spend less than $1,000
- 31% plan to spend between $1,001 and $5,000
- 16% plan to spend between $5,001 and $10,000
- 6% plan to spend between $10,001 and $15,000
- 5% plan to spend more than $15,000
"While our survey shows that almost 40% of homeowners plan to pay for their improvement projects with cash, the remainder will seek financing to cover the costs," observes, Cassie Morien, homeowner insights analyst for Modernize.com. "Fortunately, there are a range of options for financing home renovations, ranging from home equity lines of credit to personal loans to credit cards."
Morien is available to elaborate on the most recent homeowner survey and can discuss options for financing home improvement projects.
For more than 15 years, Modernize has been a leader in the home improvement and services industry, connecting homeowners with contractors and other home services professionals. Modernize operates in more than 15 high-value, high-consideration home segments, including new and replacement windows, solar installation, roofing, heating and air conditioning, siding, bathrooms and kitchens, new and replacement gutters, home security, and others. The business brings a network of more than 1,000 contractors and professionals across all segments, offering broad geographical coverage and choice for homeowners.
Modernize is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance marketplace technologies and services to the FinTech, financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. Modernize is a member of QuinStreet's expert research and publishing division.
Share this article: