Home Improvements Popular Choice for Tax Rebates

Denver, CO, April 29, 2008-- About a quarter of U.S. homeowners say they'll spend their economic stimulus checks on projects for their homes.
 
A national consumer opinion survey by Johns Manville, a Berkshire Hathaway company, found that 24 percent of U.S. homeowners are "considering using" the stimulus money to upgrade or improve their homes.

In addition, roughly one in five respondents, or 19 percent, said they would "definitely use" their rebate money for a home improvement project.
 
"The federal government is hoping that Americans will spend these checks and help stimulate the nation's economy, and this survey confirms that many Americans are prepared to do that, at least when it comes to their homes," said Wayne Russum, senior vice president of Opinion Research Corp.
 
Among respondents who said they are not considering using their rebate check for a home improvement, the most common intended uses were saving it (45 percent), paying down debt (40 percent), taking a vacation (14 percent), purchasing a luxury item (9 percent), or something else (5 percent).
 
The survey found that the most popular projects for respondents considering using their rebate checks for a home improvement project included: household upgrades, including landscaping (23 percent) or an upgrade of the bathroom (13 percent) or kitchen (12 percent); improving their homes' energy efficiency, including adding attic insulation (9 percent), caulking or sealing (4 percent), or installing energy efficient light bulbs (4 percent); or painting a room (10 percent).

Homeowners between the ages of 25 and 34 were most likely to consider using the rebate checks for a home improvement (33 percent); homeowners older than 65 were least likely (20 percent).

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