Homeowners motivated to spend
With the housing market slowly bouncing back in many communities, homeowners are looking to make improvements to their properties.
That theory is playing out in a new survey from CouponCabin.com. It reveals that nearly one-third (32%) of U.S. homeowners feel the improving economy is motivating them to make home improvements that they wouldn't have done during the recession. Overall, more than 6-in-10 (64%) U.S. homeowners report they are at least somewhat likely to make home renovations or improvements like re-tiling a floor, installing new carpet or redoing a bathroom in the next 12 months.
Seasonality can also be a factor in motivating homeowners to spruce up their abodes. Nearly 9-in-10 (87%) feel spring is the ideal time to make home renovations or improvements. Home improvement stores are bound to be busy in the months to come, as 82% of those U.S. homeowners who plan to make home renovations or improvements in the next 12 months will shop at a home improvement store, such as Home Depot or Lowe's.
"Many homeowners have held off on home improvements over the past few years, but are cautiously making changes as the economy strengthens," said Jackie Warrick, senior savings adviser at CouponCabin.com. "It's important for homeowners to carefully approach projects and choose to do renovations that are most likely to raise the value of their home overall."
This survey was conducted online within the United States by Harris Interactive on behalf of CouponCabin.com from April 3-5, 2013, among 2,232 U.S. adults ages 18 and older, among which 1,389 are homeowners.