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Renovation projects remain popular, but homeowners often need help paying for them

Housing Wire

In response, some consumers have turned to renovation projects to meet their needs. The market for renovation projects is a lucrative one for homebuilders and contractors. The Clever survey found that 85% of respondents spent at least $10,000 on renovations in 2023, including 48% who spent at least $50,000.

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Homebuyers say they are willing to accept longer mortgage terms

Housing Wire

But despite this trend, some buyers are willing to adjust their loan term expectations to achieve homeownership, according to a recent report by real estate technology company REsimpli. Consumers also said they were willing to tackle renovation costs if it meant achieving homeownership, according to the survey.

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HouseAmp, Renovation Sells seek to streamline the presale process

Housing Wire

What do you get when you combine home renovation specialists with a lender that can provide funds in short order? The new partnership between HouseAmp and Renovation Sells. The technology companies will tether their respective services with the goal of streamlining the process of getting a home ready for sale.

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Baby boomers’ renovation needs are expected to accelerate: Property Brothers

Housing Wire

To better accommodate their needs as they age, baby boomer homeowners will likely need to renovate their homes to more easily accomplish goals related to aging in place and living in a safer, more comfortable dwelling. But for those opting to age in place, the renovations will be needed for safety and comfort in older age, he added.

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Why real estate professionals must return to old-school thinking in 2025

Housing Wire

Beyond that, technology continues to evolve, yet those solutions do little to streamline processes and deliver actual returns. Professionals should also leverage technology to give clients the best experience for the biggest decision of their lives. But to execute at scale will require support from cutting-edge technology applications.

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CFPB rule applies mortgage protections to clean energy loans

Housing Wire

The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology. PACE loans which are often used to finance environmentally minded renovations, like the addition of solar panels have led to financial instability for some borrowers.

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Real estate investors say they’ll expand portfolios, make home improvements in 2025

Housing Wire

Ryan Barone, RentRedis co-founder and CEO, said that landlords are increasingly seeking efficiency through technology. Investing in property improvements Beyond acquisitions, landlords are prioritizing renovations , with 52% of investors budgeting at least $5,000 per unit for improvements in 2025. Regional investment trends also vary.