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Home & Garden 65 Percent of Young Homeowners Plan to Renovate This Year

04:45  06 august  2021
04:45  06 august  2021 Source:   housebeautiful.com

How Much Does Fence Installation Cost?

  How Much Does Fence Installation Cost? Typical Range: $1,667 to $4,075 National Average: $2,839From vinyl to chain link to picket, fences are a proven wa y to boost curb appeal, corral pets and kids, and deter unwanted visitors. Fences can spruce up a property and increase a home’s value. Installing a fence might be more affordable than expected, depending on the materials. On average, homeowners spend between $1,667 and $4,075 for a new fence installation, with a national average of $2,839. Fence installation costs between $13 and $50 per linear foot. Wood fences cost less than metal fences, but many homeowners like a low-maintenance vinyl fence, too.

If you’re a young homeowner who plans to renovate this year (or perhaps have already begun or finished the process), you’re not alone. Many people are eager to refresh their homes right now, especially younger generations, according to Bank of America’s 2021 Homebuyer Insights Report: Home Improvement and Equity Spotlight.

a man standing in a room: Many many young homeowners plan to renovate this year, according to Bank of America’s 2021 Homebuyer Insights Report: Home Improvement and Equity Spotlight. © Klaus Vedfelt - Getty Images Many many young homeowners plan to renovate this year, according to Bank of America’s 2021 Homebuyer Insights Report: Home Improvement and Equity Spotlight.

Conducted on behalf of the bank, a Sparks Research survey of 2,000 adults who currently own a home or plan to in the future found that 65 percent of younger homeowners (ages 18 to 43) and 60 percent of Gen X homeowners (ages 44 to 56) are likely to renovate this year. Older homeowners (ages 57 to 75) are less likely at 22 percent.

How Much Does Roof Replacement Cost?

  How Much Does Roof Replacement Cost? Typical Range: $5,434 to $11,151 National Average: $8,272Roof repair isn’t a project that any homeowner looks forw ard to, but the roof replacement cost is even less appealing. Maintenance and care will prolong the life of any roof, but sooner or later shingles and flashing wear out, and it’ll be time to replace the whole roof to protect the integrity of the structure and prevent damage and hazards. While replacing a roof is expensive, it’s such a fundamental part of a home’s structure that the cost is understandable, as is the specialized labor needed.

“Traditionally, home improvement projects have been measured through the lens of return on investment, but we’re seeing that the emotional connection to one’s home is just as important,” Ann Thompson, specialty lending executive at Bank of America, says. “Customizing a home and bringing it up to date can create a place your family can enjoy for generations to come and help build a legacy and long-term wealth.”

More than half of the survey respondents planned to remodel their homes before or right after moving in while a small percent planned to do it before selling their home. The report also found that many younger homeowners are taking on DIY projects and looking to incorporate more sustainable features into their homes, like solar panels and energy-efficient appliances.

How Much Does Basement Waterproofing Cost? Basement Sealing Budgeting Guide

  How Much Does Basement Waterproofing Cost? Basement Sealing Budgeting Guide Typical Range: $2,250 to $7,063 National Average: $4,539A wet basement is never a good thing. When groundwater or moisture make their way into your sublevel, it can cause unpleasant smells, mold, and concrete deterioration. Luckily, you can fight back against that moisture by waterproofing your basement. But how much does basement waterproofing cost?Costs will largely depend on how you waterproof the space, as there are many options and techniques.

Have questions about your next renovation project? We’ve got answers. Let’s do this together.

While you can dip into savings or use a credit card for home reno projects, one resource some younger homeowners weren’t aware of is that they can use a home equity line of credit for big projects. “While we see so many design ideas we’d like to try, homeowners don’t get much information when it comes to how to pay for these exciting changes,” Thompson says. “A home equity line of credit is a great financing choice for more significant home renovations.”

You can dive deeper into the report here and find more information about home equity lines of credit here.

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Home Warranty Coverage: What Does a Home Warranty Really Cover? .
Q: My real estate agent has advised that I get a home warranty on a home I’m considering buying. It seems like a good idea, as the home is older, but I’m concerned that there are loopholes and it won’t cover a problem when one occurs. What does a home warranty really cover?A: This is a great question—and home warranties aren’t just for new home buyers, either. Sellers and existing homeowners may look at home warranties and worry that what the warranty promises is too good to be true.

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