Blog: Which Room Would You Renovate First?
By Jim Donovan
PHILADELPHIA (CBS) -- Thinking about renovating your home or condo? Which room would you tackle first? In the Philadelphia region 40 percent of people recently questioned in a TD Bank survey say they'd tackle their kitchen first.
It's been almost a decade since the U.S. housing bubble burst, and with property values on the rise, many homeowners are more optimistic and ready to invest in their home. According to recent research from TD Bank, 56% of respondents believe their home's value has increased, and 60 percent would use a Home Equity Line of Credit (HELOC) to finance renovations, with 53% of Millennials considering such a move.
Here's a look at where people say they'd invest their money when renovating:
Kitchen 40%
Bathroom 30%
Basement 14%
Other 8%
Living Room 4%
Bed Room 2%
Dining Room 1%
If you are a numbers geek like I am, and you'd like to check out the TD Bank survey on Home Equity Line of Credit, click here.
