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Majority of Americans think home renovations take longer than planned: survey

  • July 27, 2022

More than half of Americans think their home improvement project will take longer than planned, according to a survey from Angi.  (iStock)

The majority of Americans (52%) believe that home improvement projects will take longer than expected, but many are still confident in their ability to do the projects themselves, according to a survey from Angi.

U.S. home improvement sales are projected to increase to more than $550 billion this year as more Americans choose to do their remodeling projects themselves, according to Statista.

When looking at cost, women were 10% more likely than men to believe that DIY renovations would save money over hiring a professional, the survey said. Separately, about 12% of millennials said they thought renovations wouldn’t break the bank. 

The survey also said that 74% of Americans have some confidence in their ability to oversee a home renovation project, but 20% have no idea about permit requirements for common home renovations

If you are considering doing a home renovation, a cash-out refinance is one option to help you fund the project. You can visit Credible to compare multiple mortgage lenders and find your personalized interest rate without affecting your credit score.

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Gen X believes home renovations add value

Many Americans believe their renovation projects will add value to their home, the Angi survey said. 

About 42% of Gen X, or those born between 1965 and 1981, are convinced that home value is added through renovations. This is compared to 31% of millennials and 32% of baby boomers.

Some home updates do seem to pay off, though. For example, a minor bathroom remodel has an average 102% return at resale, according to HGTV. Landscaping

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