More homeowners say they plan to renovate their homes this year, and they are increasingly planning to take advantage of higher home prices and use their home’s equity to complete the renovations, according to Bank of America’s “2021 Homebuyer Insights Report: Home Improvement and Equity Spotlight.”

“Greater reliance on the home as both a workspace and a family center has led many owners to tailor their homes to their needs,” the report says.

The survey uncovered several trends with home improvement projects detailed in their report at: “2021 Homebuyer Insights Report: Home Improvement and Equity Spotlight,” Bank of America (2021)