DENVER -- A consumer opinion survey conducted by building products manufacturer Johns Manville reveals that 24 percent of U.S. homeowners are "considering using" the money they will receive as part of the federal economic stimulus package 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, who conducted the survey for the company.
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).
The survey's other key findings included:
--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).
--Homeowners in the West were most likely to use their rebate check for a home improvement (27 percent); homeowners in the South were least likely (22 percent).
--The most common reasons cited for pursuing a home improvement project with the rebate money were comfort (34 percent), aesthetics (17 percent), environmental impact (15 percent), resale (13 percent), and return on investment (8 percent).
--Among all respondents, 31 percent of homeowners said they are planning to start a home improvement project during May, which is National Home Improvement Month.
"Clearly, many homeowners agree that investing in their homes can improve their quality of life and provide a solid return on investment," said Mark Ziegert, JM's senior brand manager for building insulation products. "People who use their rebate check to improve their home's energy efficiency not only enhance the comfort of their home, they will achieve cost saving in both the winter and summer through improved energy efficiency, and they may increase the resale value of the home."
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).
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