{"id":404626,"date":"2020-12-22T10:50:26","date_gmt":"2020-12-22T15:50:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404626"},"modified":"2020-12-22T10:50:26","modified_gmt":"2020-12-22T15:50:26","slug":"more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/","title":{"rendered":"More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">While about 42% expect to pay for home renovations in cash, nearly 43% will turn to credit cards or loans to fund work<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">FOSTER CITY, Calif.<\/span>, <span class=\"xn-chron\">Dec. 22, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0<u><a target=\"_blank\" href=\"https:\/\/modernize.com\/\" rel=\"nofollow noopener noreferrer\">Modernize.com<\/a><\/u>, a leader in the home improvement and home services industry, recently surveyed more than 3,100 homeowners about how they plan to pay for their upcoming roofing, siding, window, HVAC and solar projects. Survey responses include the following highlights:<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1227597\/Modernize_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1227597\/Modernize_Logo.jpg\" title=\"(PRNewsfoto\/Modernize.com)\" alt=\"(PRNewsfoto\/Modernize.com)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Expected financing for home renovations<br \/><\/b>While most respondents plan to pay for home improvements in cash, loans and credit cards will be used by nearly as many people.<\/p>\n<ul type=\"disc\">\n<li>Cash\/Check: 41.66% <\/li>\n<li>Financing\/Loan: 29.63% <\/li>\n<li>Other: 15.37% <\/li>\n<li>Credit Card: 13.34%<\/li>\n<\/ul>\n<p>\n        <b>Loan option preferences<br \/><\/b>For respondents who indicated they would pursue financing\/getting a loan, over 25% hope to obtain financing through their contractor.<\/p>\n<ul type=\"disc\">\n<li>A loan through my contractor: 25.33% <\/li>\n<li>Personal loan: 13.09% <\/li>\n<li>Home Equity Loan: 7.39% <\/li>\n<li>Home equity line of credit (HELOC): 6.30% <\/li>\n<li>FHA or VA Loan: 4.24%<\/li>\n<\/ul>\n<p>\n        <b>Finance research timing<br \/><\/b>Those planning to finance were asked about when they will begin researching their financing options.<\/p>\n<ul type=\"disc\">\n<li>After meeting with contractors\/after learning more about project cost: 33.48% <\/li>\n<li>After choosing a contractor for my project: 18.55% <\/li>\n<li>Before meeting with contractors\/I already started researching: 13.27%<\/li>\n<\/ul>\n<p>&#8220;It&#8217;s paramount to compare three to four contractor quotes ahead of your project, to find the best contractor, price and financing options,&#8221; advises <span class=\"xn-person\">Gregg Hicks<\/span>, vice president of Modernize.com. &#8220;Modernize resources help homeowners research contractors for complex, high-value home renovations and include guidance on <u><a target=\"_blank\" href=\"https:\/\/modernize.com\/homeowner-resources\/53888\/how-credit-score-impact-home-improvement-financing-options\" rel=\"nofollow noopener noreferrer\">home improvement financing<\/a><\/u> to facilitate projects.&#8221;<\/p>\n<p>Detailed information on navigating the costs associated with home renovations is available in reports such as: <u><a target=\"_blank\" href=\"https:\/\/modernize.com\/homeowner-resources\/50175\/discussing-payment-plans-costs-and-financing-with-your-windows-contractor\" rel=\"nofollow noopener noreferrer\">Discussing payment plans, costs, and financing with your contractor<\/a><\/u>.<\/p>\n<p>Hicks is available to interpret recent survey data and comment on the pros and cons of various payment approaches.<\/p>\n<p>\n        <b>About Modernize.com<br \/><\/b>For more than 15 years, Modernize has been a leader in the home improvement and services industry, connecting homeowners with contractors and other home services professionals. Modernize operates in more than 15 high-value, high-consideration home segments, including new and replacement windows, solar installation, roofing, heating and air conditioning, siding, bathrooms and kitchens, new and replacement gutters, home security, and others. The business brings a network of more than 1,000 contractors and professionals across all segments, offering broad geographical coverage and choice for homeowners.<\/p>\n<p>Modernize is owned and operated by <u><a target=\"_blank\" href=\"https:\/\/www.quinstreet.com\/\" rel=\"nofollow noopener noreferrer\">QuinStreet<\/a><\/u>, Inc. (Nasdaq:\u00a0QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. Modernize is a member of QuinStreet&#8217;s expert research and publishing division.<\/p>\n<p>\n        <b>Media Contact:<br \/><\/b><br \/>\n        <span class=\"xn-person\">Jacqueline Leppla<\/span><br \/>\n        <br \/>Senior Director of Public Relations<br \/>QuinStreet, Inc.<br \/>Direct +1 775 321 3608<br \/>Email <u><a target=\"_blank\" href=\"mailto:jleppla@quinstreet.com\" rel=\"nofollow noopener noreferrer\">jleppla@quinstreet.com<\/a><\/u>\u00a0<br \/><u><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/jacquelineleppla\/\" rel=\"nofollow noopener noreferrer\">LinkedIn<\/a><\/u><\/p>\n<p>Twitter:\u00a0<u><a target=\"_blank\" href=\"https:\/\/twitter.com\/modernize\" rel=\"nofollow noopener noreferrer\">https:\/\/twitter.com\/Modernize<\/a><br \/><\/u>Facebook:\u00a0<u><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ModernizeHome\" rel=\"nofollow noopener noreferrer\">https:\/\/www.facebook.com\/modernizehome<\/a><\/u><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF30044&amp;sd=2020-12-22\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor-301196596.html\">http:\/\/www.prnewswire.com\/news-releases\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor-301196596.html<\/a><\/p>\n<p>SOURCE  Modernize.com<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SF30044&amp;Transmission_Id=202012221047PR_NEWS_USPR_____SF30044&amp;DateId=20201222\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While about 42% expect to pay for home renovations in cash, nearly 43% will turn to credit cards or loans to fund work PR Newswire FOSTER CITY, Calif., Dec. 22, 2020 \/PRNewswire\/ &#8212;\u00a0Modernize.com, a leader in the home improvement and home services industry, recently surveyed more than 3,100 homeowners about how they plan to pay for their upcoming roofing, siding, window, HVAC and solar projects. Survey responses include the following highlights: Expected financing for home renovationsWhile most respondents plan to pay for home improvements in cash, loans and credit cards will be used by nearly as many people. Cash\/Check: 41.66% Financing\/Loan: 29.63% Other: 15.37% Credit Card: 13.34% Loan option preferencesFor respondents who indicated they would pursue financing\/getting a loan, over &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404626","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"While about 42% expect to pay for home renovations in cash, nearly 43% will turn to credit cards or loans to fund work PR Newswire FOSTER CITY, Calif., Dec. 22, 2020 \/PRNewswire\/ &#8212;\u00a0Modernize.com, a leader in the home improvement and home services industry, recently surveyed more than 3,100 homeowners about how they plan to pay for their upcoming roofing, siding, window, HVAC and solar projects. Survey responses include the following highlights: Expected financing for home renovationsWhile most respondents plan to pay for home improvements in cash, loans and credit cards will be used by nearly as many people. Cash\/Check: 41.66% Financing\/Loan: 29.63% Other: 15.37% Credit Card: 13.34% Loan option preferencesFor respondents who indicated they would pursue financing\/getting a loan, over &hellip; Continue reading &quot;More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-22T15:50:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1227597\/Modernize_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor\",\"datePublished\":\"2020-12-22T15:50:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\\\/\"},\"wordCount\":507,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1227597\\\/Modernize_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\\\/\",\"name\":\"More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/","og_locale":"en_US","og_type":"article","og_title":"More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor - Market Newsdesk","og_description":"While about 42% expect to pay for home renovations in cash, nearly 43% will turn to credit cards or loans to fund work PR Newswire FOSTER CITY, Calif., Dec. 22, 2020 \/PRNewswire\/ &#8212;\u00a0Modernize.com, a leader in the home improvement and home services industry, recently surveyed more than 3,100 homeowners about how they plan to pay for their upcoming roofing, siding, window, HVAC and solar projects. Survey responses include the following highlights: Expected financing for home renovationsWhile most respondents plan to pay for home improvements in cash, loans and credit cards will be used by nearly as many people. Cash\/Check: 41.66% Financing\/Loan: 29.63% Other: 15.37% Credit Card: 13.34% Loan option preferencesFor respondents who indicated they would pursue financing\/getting a loan, over &hellip; Continue reading \"More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-22T15:50:26+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1227597\/Modernize_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor","datePublished":"2020-12-22T15:50:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/"},"wordCount":507,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1227597\/Modernize_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/more-than-25-of-surveyed-homeowners-plan-to-finance-home-improvement-projects-by-borrowing-from-contractor\/","name":"More than 25% of Surveyed Homeowners Plan to Finance Home Improvement Projects by Borrowing from Contractor - 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