Home Reno

Inflation is forcing homeowners to put renovations on the back burner, but most would still rather renovate than move. Nearly 60% of respondents to a new survey from Discover Home Loans said they are postponing their renovation projects as projects become more expensive than their budgets. Another 26% will reduce the scope of their projects due to increased costs. But 79% would still rather renovate their current home than purchase a new one. Just under half of respondents said they are no longer interested in buying a home specifically because of rising interest rates. “Our survey results show that homeowners are still looking to invest in their homes, despite higher home improvement costs. With large amounts of existing home equity…