Equity Home Improvements

What impact increased home equity is having and what homeowners are doing.

Tomorrow is Easter, and you know what that means. April and home improvements are both just around the corner. Today you'll learn about the impact increased home equity is having and what homeowners are doing. This year homeowners are expected to spend over 250 billion dollars on remodeling and improvements. But the type and scope of these remodels and improvements is changing dramatically. In recent years homeowners have gained a staggering 5 trillion dollars in home equity, and now they've started pulling some of it out. Whereas some will take trips and buy new cars, increasing numbers of folks are socking it right back with high-end kitchen makeovers, massive room additions, lavish spa-like bathrooms and multiplex-quality home theaters, to name but a few. And this year, more than half are slated to launch a major project of some sort. The bigger the homes, the bigger the budgets. One-third of all pro remodeling goes to homes valued at more than $400,000. For contractors, this is a happy Easter indeed. For more tips, visit our Web site at Onthehouse.com.

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