Stimulus checks expected to boost home spending

A recent survey of more than 1,200 homeowners about their plans for using their anticipated stimulus funds found that more than half expect to apply some or all of their stimulus checks to upcoming home improvement projects.

• 37.7% say they will definitely use their check on a home project

• 19.4% expect to put part of their check to use on home improvement

• 42.9% do not anticipate using their stimulus check on home renovations

The survey was orchestrated by Modernize, a home service that matches home owners with professional contractors and home renovators.

Approximately 1,270 homeowners exploring HVAC, solar power, windows, roofing, and exterior siding projects were asked whether or not they expect to put stimulus funds to use on their upcoming projects. The largest proportion of roofing and window researchers indicate that stimulus funds will go toward the cost of that work:

• 82.8% of those with roofing projects expect to use stimulus funds to help cover the cost

• 69.9% of window replacement jobs are likely to tap into their stimulus check

"Roof replacements are one of the most important projects homeowners undertake. Depending on the materials needed, costs can range between $3,200 and $12,500. Stimulus checks can help make the difference in enabling homeowners to complete critical work," observes Gregg Hicks, vice president for Modernize.