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Search for the answers to your home repair and home improvement questions.
 Thursday, November 20, 2008
Tip of the Day Categories » Building, Remodeling, and General Repair

Tip of the Day



Home Improvement Survey

Are you curious as to how many folks are making home improvements these days? Who's doing what and for how much? A recent survey revealed that in spite of a weak economy, almost half of all homeowners are planning some sort of major home improvement. Among men, decks were first, followed by room additions, kitchen upgrades and enhancing a workshop or the garage. For women, kitchens were No. 1, followed by room additions, refurnishing or redecorating and a new deck or patio. The average project's planned expenditure was $17,000. When asked how they planned to finance the work, one-third of those surveyed said they'd obtain a home equity loan or tap into an existing line of credit. Two-thirds (surprisingly) said they'd use cash from savings or credit cards. But in this area, experts advised using caution. They suggest using home equity to finance the work, a tax-deductible way to build more home equity rather than depleting one's cash nest egg or running up high-interest credit cards. And that's the On The House tip for today.

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