Homeowners Plan to Use Tax Rebates for Home Improvements

Tax rebate checks from the federal economic stimulus package have begun hitting bank accounts this week. According to a recent national survey conducted by Opinion Research Corp., 19 percent of U.S. homeowners said they would “definitely use” their rebate money to upgrade or improve their homes. An additional 5 percent are “considering using” the money for a home improvement project.

The most popular projects being considered were landscaping (23 percent), bathroom upgrade (13 percent), updating the kitchen (12 percent), interior painting (10 percent), adding attic insulation (9 percent), caulking or sealing to improve energy efficiency (4 percent) and installing energy-efficient light bulbs (4 percent).

The most common reasons homeowners wanted to improve their homes were for comfort (34 percent), aesthetics (17 percent), environmental impact (15 percent), resale (13 percent) and return on investment (8 percent).