Gulf Shores homeowners, or at least half of them, plan to do some sort of renovations this year. This is according to an annual survey by LightStream, which also determined this year's most popular renovation projects. (LightStream is an online lending division of SunTrust Banks Inc.)
Renovation Projects Gulf Shores Homeowners Plan to Do
Landscaping, deck/patio or other outside renovations — 43 percent.
New roof, windows, HVAC, solar or other home repair — 33 percent.
Bathroom remodel — 29 percent.
Kitchen remodel — 26 percent.
LightStream reports the home improvement industry continues to regain strength as 57 percent of Gulf Shores homeowners are looking to complete home remodeling or maintenance projects this year, according to a survey conducted online by Harris Poll.
The LightStream survey found that more than a third of Gulf Shores homeowners planning to renovate expect to spend $5,000 or more this year, with 18 percent investing more than $10,000.
Most — 59 percent — plan to use their savings. Another 30 percent plan to charge the renovations, while 9 percent expect to use a home equity line of credit, 7 percent will seek loans, 4 percent will pay via investments and 21 percent are unsure or plan to pay using alternate means.
"Whether to improve indoor and outdoor space for a better family life or to perform routine maintenance, renovations provide a myriad of benefits," said Todd Nelson, business development officer at LightStream. "Consumers are increasingly putting money back into their homes. This is good for the economy and the home improvement industry overall."
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