Crowdfunding for home renovations?

renovations1
FeatherTheNest.com allows users to create campaigns, known as “nests,” to seek donations from friends and family for home-related needs, whether it’s for a major renovation, closing costs, or a down payment.

Crowdfunding websites have been proven successful in raising money for everything from health bills to charities and work-related projects. Now there’s a new one for real estate expenses: FeatherTheNest.com

The website, which launched in May, allows users to create campaigns, known as “nests,” to seek donations from friends and family for home-related needs, whether it’s for a major renovation, closing costs, or a down payment.

While many crowdfunding sites such as Kickstarter, GoFundMe and Indiegogo help with various causes, this website specifically aims to help people who have a major life event coming up that involves a new house or renovation.

According to CNN Money, the website was started by Lindsay Oparowski, who was pregnant with her second daughter at the time. While she had received clothes and toys for presents, she realized what she really needed was money for her baby’s new bedroom.

“There isn’t a great way to ask or money; I figured creating a third party to help make the request would remove the awkwardness,” Oparowski told CNN. 

The site currently has 14 nests seeking funds for their home projects, including a bathroom renovation, a family’s first home, a dog house, among others.

Users can create their own campaigns by first joining the site, and then filling out a form that explains their wish by adding photos or videos.

Like other crowdfunding sites, donors can contribute either publicly or anonymously. The company takes a 5 percent transaction fee once the user reaches their goal.

[CNN Money]

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