NEW YORK--(BUSINESS WIRE)--National Home Improvement Month is the perfect time of year for people to improve one of their most valuable assets, their home. To kick off the month, Marcus by Goldman Sachs® reveals the results of a recent study to uncover what homeowners would sacrifice in order to make their renovation dreams a reality.
The survey revealed that 57% of homeowners planning to make home improvements this year would sacrifice their smart phone for 30 days if it meant they could renovate their home into their dream home for free, while 43% would give up sex for 30 days and nearly half (47%) would give up drinking alcohol for a year.
How do homeowners plan to fund their home renovation?
Nearly 1 in 4 homeowners who are planning for home improvements this year (24%) plan on using a credit card as their primary source of financing for their project. The survey findings also revealed that when it comes to financing a home improvement project, 39% of homeowners are most concerned about incurring fees -- more so than having to borrow against their home (28%), the funds being controlled by a contractor (14%), dealing with variable rates (13%), or getting your home appraised (6%).
To help homeowners with their renovation projects, Marcus has teamed up with home renovation expert, JoJo Fletcher, to share her budget friendly home renovation tips.
“Think about small changes you can make if you don’t have the time to take on a big project right now. You can instantly freshen up any kitchen by refinishing your cabinets with a bright white coat of paint. When it comes to financing, I recommend homeowners explore all their options in order to get the most out of their budget,” said JoJo Fletcher, ambassador for Marcus by Goldman Sachs®. “Whether it’s a quick retouch to freshen up the kitchen, or an ambitious remodel, I recommend homeowners consider various financing options. For instance, Marcus offers no-fee, fixed rate home improvement loans up to $40,000 which could be a better option than putting renovation costs on a higher interest credit card, or borrowing against your home’s equity. Applying for a loan is easy and you can see your offers in as little as five minutes.”
To learn more about a Marcus home improvement loan and get additional tips for your home renovation project from JoJo Fletcher visit: www.marcus.com.
About Marcus by Goldman Sachs®:
Marcus by Goldman Sachs ® offers products and tools designed to help people achieve financial well-being. Marcus offers no-fee, fixed-rate unsecured personal loans, high-yield online savings accounts and certificates of deposit in a variety of terms as well as home improvement loans. Marcus is supported by the Goldman Sachs Group, Inc. (NYSE: GS) and its 148-year history of financial expertise, risk management and customer service.
About Marcus by Goldman Sachs ® Home Improvement Loans:
Marcus home improvement loans have no fees ever. No sign-up fees, no late fees (customers only pay interest for the additional days) and no prepayment fees. The application process is easy, and does not require a home appraisal or borrowing against your home. Once approved, most Marcus customers receive their funds within four days along with complete control over how they use their funds without being committed to pre-approved projects or a single contractor. Loans range from $3,500 to $40,000 for periods of three to six years, providing creditworthy customers with a smart and simple solution for investing in a home renovation.