Home Renovation. Wednesday , October 10th , 2018 - 06:30:37 AM
Back this up by pulling out the home inspection that you had done when you first bought the home and going over it again (after you've blown off the dust). Make a list of the possible issues and prioritize them into those that are urgently needed and those you can live with. A very basic risk assessment would look at each item and give it a score of high, medium or low for the two categories of likelihood and consequence. Those that come out high-high, high-medium or medium-high are the most urgent and should be dealt with first.
Mortgage Refinancing - If you are planning major renovations, like adding an addition or in-law suite, it may pay to refinance your mortgage. With this option you can spread the payments out over a longer period and enjoy mortgage rates that are normally much lower than those of credit cards, lines of credit or personal loans. As with home equity loans, there may be some initial fees to refinance.
Renovations, modifications, or any kind of additions to your home not only make your property look more attractive but also increase the property value. If you plan to sell your property, you can expect an increase in your property value if you have renovated your house. You can decide on home additions to add more rooms - making changes to previous rooms such as modifying your kitchen, dining room, bedroom, bathroom, etc. You can also go for a basement renovation for your home.
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