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Home Improvement Spending Surges

Appraisal Buzz

American homeowners poured $827 billion into home improvement projects during the two-year period ending in 2023, according to the latest U.S. Average project costs also climbed, reflecting not only inflation in raw materials and labor, but also a shift toward professionally completed renovations.

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Finance of America now offers renovation loans

Housing Wire

announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Per a study from Harvard University’s Joint Center for Housing Studies, renovation financing is expected to increase 3.3% in 2021 to $433 billion.

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Investors Embracing Expansion of Real Estate Portfolios 

Appraisal Buzz

According to study data published by RentRedi , most American real estate investors intend to increase their portfolios and make large investments in renovating their existing properties in 2025, exhibiting a strong growth mindset. Some 27% of landlords nationwide intend to make renovations totaling at least $20k per property.

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What renovations will add value to my home?

Housing Wire

We all love the feeling of a refreshed, renovated home, and being able to enjoy it instills a sense of pride in its owner. That’s partly why people are spending significant time, energy and money on home renovation projects these days. It’s no secret that home improvements can be a costly endeavor.

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Homeowners Staying Put Amid Low Housing Supply, Leveraging Home Equity

Appraisal Buzz

Homeowners of all generations are utilizing HE Loans or HELOCs to take advantage of their increasing equity as home values continue to climb. Forty-three percent of people who are remodeling or intend to renovate their homes are doing so in order to raise their home’s equity.

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Are home updates actually worth it right now?

Housing Wire

Renovations Can Be Beneficial. Certain home improvements are considered “capital improvements.” that falls under “capital improvements.” While not every upgrade will increase your home’s value, when you sell your house, you can write off your capital improvements. Sliding Replacement. Bottom Line.

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New Service is Designed to Help Homeowners Renovate

Appraisal Buzz

The lending and services platform Finance of America has introduced a home improvement financing product offered to consumers through approved contractors. The post New Service is Designed to Help Homeowners Renovate appeared first on DSNews.