Homeowners are using equity lines to renovate

A new survey sponsored by TD Bank indicates that home builders are choosing to renovate rather than relocate. Remodeling spending is quickly on the rise and 80 percent of home equity line of credit borrowers say they are considering renovation. “According to the National Association of Home Builders, spending on remodeling during 2017 will top […]

A new survey sponsored by TD Bank indicates that home builders are choosing to renovate rather than relocate. Remodeling spending is quickly on the rise and 80 percent of home equity line of credit borrowers say they are considering renovation.

“According to the National Association of Home Builders, spending on remodeling during 2017 will top $152 billion, and renovations of owner-occupied single-family homes will increase 4.9 percent in 2018 over 2017,” says CU Today. “That does not include remodeling done by investors looking to flip or rent properties, both of which are increasing as well, according to the NAHB.” Read the full story here.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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