Marcus by Goldman Sachs Reveals What Homeowners Would Sacrifice for Their Dream Home

NEW YORK, May 1, 2018 — National Home Improvement Month is the perfect time of year for people to improve one of their most valuable assets, their home. To kick off the month, Marcus by Goldman Sachs® reveals the results of a recent study to uncover what homeowners would sacrifice in order to make their renovation dreams a reality.

Survey

The survey revealed that 57% of homeowners planning to make home improvements this year would sacrifice their smart phone for 30 days if it meant they could renovate their home into their dream home for free, while 43% would give up sex for 30 days and nearly half (47%) would give up drinking alcohol for a year.

How do homeowners plan to fund their home renovation?

Nearly 1 in 4 homeowners who are planning for home improvements this year (24%) plan on using a credit card as their primary source of financing for their project. The survey findings also revealed that when it comes to financing a home improvement project, 39% of homeowners are most concerned about incurring fees — more so than having to borrow against their home (28%), the funds being controlled by a contractor (14%), dealing with variable rates (13%), or getting your home appraised (6%).

To help homeowners with their renovation projects, Marcus has teamed up with home renovation expert, JoJo Fletcher, to share her budget friendly home renovation tips.

“Think about small changes you can make if you don’t have the time to take on a big project right now. You can instantly freshen up any kitchen by refinishing your cabinets with a bright white coat of paint. When it comes to financing, I recommend homeowners explore all their options in order to get the most out of their budget,” said JoJo Fletcher, ambassador for Marcus by Goldman Sachs®. “Whether it’s a quick retouch to freshen up the kitchen, or an ambitious remodel, I recommend homeowners consider various financing options. For instance, Marcus offers no-fee, fixed rate home improvement loans up to $40,000 which could be a better option than putting renovation costs on a higher interest credit card, or borrowing against your home’s equity. Applying for a loan is easy and you can see your offers in as little as five minutes.”

To learn more about a Marcus home improvement loan and get additional tips for your home renovation project from JoJo Fletcher visit: www.marcus.com.

About Marcus by Goldman Sachs®

Marcus by Goldman Sachs® offers products and tools designed to help people achieve financial well-being. Marcus offers a high-yield Online Savings Account and certificates of deposit in a variety of terms and no-fee, fixed-rate unsecured personal loans, including home improvement loans. All Marcus loans and savings products are provided by Goldman Sachs Bank USA, Member FDIC, and benefit from Goldman Sachs and its 150-year history of financial expertise, risk management and customer service. For more information please visit www.marcus.com.

About Clarity Money

Clarity Money is a personal finance mobile app that acts as your financial champion. By combining artificial intelligence and machine learning, Clarity Money delivers actionable insights to help consumers take control of their financial lives. The app displays your financial picture by analyzing accounts and spending patterns, identifying and helping to cancel unwanted subscriptions, and allowing users to check their free credit score. Launched in 2017 by venture capitalist and serial entrepreneur Adam Dell, Clarity Money became part of Marcus by Goldman Sachs in April 2018. The free app can be downloaded in the App Store, Google Play Store and is available at app.claritymoney.com.

Media Contact
Zeno Group
Cathleen Koo
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Goldman Sachs
Maria Gonzalez
+1 212-902-5400
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