Sweat Equity: A Homeowner’s Most Valuable Resource

Homeowners across the country are devoting weekends and holidays to improving their homes through a variety of DIY projects. We asked them about their plans.

• 8 in 10 homeowners expect their home will need work
• 6 in 10 have completed a home renovation in the last 6 months
• Over 60% believe they will reach the renovation finish line
• $1k to $10k is the wide range for budgets

Upcoming project?

Half of homeowners say they plan to do-it-themselves, while 30% plan to hire a contractor and the reminder plan to combine the two.

Why renovate?

1. Add value to your home
2. Make your home more comfortable
3. Love Do-It-Yourself (DIY) projects

Popular ways to pay:

• Cash/savings
• Credit card
• Home Equity Line of Credit (HELOC) or refinance
• A mix of all of the above

It’s a workout!

Half of homeowners expect improvements to be physically challenging work. (Hint: The other half learn the hard way.)

Favorite DIY workout?

• Landscaping
• Painting
• Demolition

Social media is still king

Inspiration boards – Social media is the go-to treasure trove for ideas and before/after photos.

Instagram-worthy curb appeal – 1/3 of homeowners plan outdoor improvements.

Source: Chase Home Lending survey conducted September 2019 with 1,000 homeowners, ages 18-65, across the country.