PR Newswire
ATLANTA, March 1, 2018
ATLANTA, March 1, 2018 /PRNewswire/ -- More than half (58 percent) of homeowners are planning to spend money on home improvement projects in 2018, according to the fifth annual LightStream Home Improvement Survey. LightStream is the national online lending division of SunTrust Banks, Inc. (NYSE: STI). Budgets for renovations are on the rise: among homeowners planning renovations, 45 percent will spend $5,000 or more — an all-time survey high. Those planning to spend $35,000 or more doubled from 2017.
The survey shows robust enthusiasm for renovation, as well as a thoughtful desire to balance a home's needs and the homeowners' budget, so they have the financial confidence to move forward. Specifically, the survey revealed the following trends:
A comprehensive infographic highlighting the 2018 LightStream Home Improvement Survey is available to download. For more information about LightStream home improvement financing, visit LightStream.com/HomeProjects.
About LightStream, a division of SunTrust Bank
LightStream is a national online lending division of SunTrust Bank, providing loans for practically any purpose. LightStream's proprietary technology provides consumers with a virtually paperless loan application, underwriting, funding and servicing experience. LightStream financing is available in all 50 states; people need not have a SunTrust account in order to apply. Click here for important disclosures, including a payment example and information on same day funding, LightStream's Rate Beat Program and $100 Loan Experience Guarantee.
About the 2018 LightStream Home Improvement Survey
This year's survey was conducted online within the United States by Harris Poll on behalf of LightStream from Jan. 26 – 30, 2018 among 2,055 U.S. adults ages 18 and older (1,405 homeowners, among whom 808 plan to spend money on home improvements in 2018). The 2017 survey was conducted from Jan. 26 – 30, 2017 among 3,172 U.S. adults ages 18 and older (2,092 homeowners, among whom 1,238 planned to spend money on home improvements in 2017). The 2016 survey was conducted from Feb. 1 – 3, 2016 among 2,048 U.S. adults ages 18 and older (1,258 homeowners, among whom 763 planned to spend money on home improvements in 2016. The 2015 survey was conducted from Feb. 6 – 10, 2015 among 2,015 U.S. adults ages 18 and older (1,279 homeowners, among whom 693 planned to spend money on home improvements in 2015). The 2014 survey was conducted from March 6 – 10, 2014 among 1,291 homeowners ages 18+, among whom 684 planned to spend money on home improvements in 2014. These online surveys are not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology and calculations, contact Julie.Olian@LightStream.com.
SunTrust Bank is an Equal Housing Lender. © 2018 SunTrust Banks, Inc. All rights reserved. SunTrust and LightStream are federally registered service marks of SunTrust Banks, Inc. All other trademarks are the property of their respective owners. |
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SOURCE SunTrust Banks, Inc.
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