The School Of Renovating conducted an online survey of 324 participants about their renovating and investing. These were some of the key findings:
Boosting Retirement Savings Is Our Main Motivation For Renovating
According to the survey results, over a third of responders (36.79%) are renovating and investing in properties to boost their retirement income. Almost equal in responses include investing and renovating properties to make up for a financial setback (17.92%). The next group is to replace the income lost from a job they were unhappy (17.61%). Other reasons were boredom (8.18%) and to help their children (6.29%)…
We Trust Our Local Real Estate Agent Over Any Other Source Of Property Information
Real estate agents lead the way when it comes to being a trusted source of property purchasing information. Not far behind from the group are newspapers, property magazines, or television. And rounding out the top three were decisions made thanks to a “gut-feeling”.
Brokers Trump Banks (Two To One)
Homeowners and investors seem to be willing to pay a bit more for a property that they expect will deliver long term value. Over half of the respondents used a mortgage broker to finance their property purchase (50.46%). Nearly one quarter (23.22%) worked directly with a bank or credit union. And nearly 20% (18.58%) worked with both. Less than 5% hadn’t obtained a loan, and 3.1% obtained financing through other means.