One of the many advantages of owning a home is the ability to add—and recoup—value. A recent study by Hearth, a FinTech startup, ranked the states with the most homeowners planning to renovate in 2017, with the top 20 states mostly concentrated in the East, Midwest and West:
- Hawaii
- Kansas
- Montana
- Rhode Island
- New Hampshire
- Utah
- Michigan
- Connecticut
- Missouri
- Maine
- Arkansas
- Minnesota
- Idaho
- Kentucky
- Iowa
- Nebraska
- Massachusetts
- Alabama
- Tennessee
- South Dakota
A sizable share of those in the study reported they would redo their kitchen if their budget were unlimited, as well as their bathrooms, basement and/or living room.
The study also shed light on the ways homeowners plan to finance their projects, with 62 percent of those in the study using cash or savings, 26 percent using a loan, and 12 percent using a credit card. Twenty-eight percent, specifically, use bank loans, while 17 percent use credit union loans and 15 percent use personal loans.
Source: Hearth
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