"Today, more homeowners define success as feeling financially secure where they are (43%) and investing in their current home to make it work long term (31%)."
"Demand for home improvement remains strong, with 71% of homeowners planning a renovation project within the next two years, and two-thirds say they would be willing to sacrifice other major purchases to fund these projects."
"Nearly two-thirds (63%) of homeowners say they are likely to need financing for a home purchase or improvement within the next five years, but 39% say they do not understand how financing options work."
"What we are doing at Citizens is investing in our positioning overall, he said. Part of investing in the company's positioning is adjusting its marketing strategy."
Homeowners are increasingly defining success as financial security and long-term investment in their current homes. Many prefer renovations due to high costs of new homes and favorable mortgage rates. A significant number plan renovations, with two-thirds willing to sacrifice major purchases for funding. However, confusion about financing options persists, with many homeowners lacking understanding of fees and home equity. Citizens aims to address this through digital tools and education, focusing on transparency and improved client experience in home financing.
Read at www.housingwire.com
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