On Thursday, September 17, 2015, the U.S. Federal Reserve announced that it would not raise interest rates — a move that was contrary to many economic forecasters’ predictions. This means that homeowners can still obtain a home equity loan to fund property renovations and upgrades.
This is also good news for home buyers who are seeking to a new home mortgage or refinance an existing mortgage
Many property owners obtain a home equity loan or refinance their home, drawing from their equity to fund renovations and other home upgrades, which in turn, boost the value of the home.
This is a good move, providing the project adds value to the home. The best investments include:
- kitchen renovations;
- bathroom renovations;
- new roofing and siding;
- adding a new bathroom; and
- adding more square footage.
Not every home improvement adds value to a home. The best improvements are those that improve the quality of the home and last for many years to come, without going out of style or deteriorating.
Of course, it’s essential to turn to the right architect, contractor and craftsmen to ensure your project is completed properly and in a timely manner. At Mansions & Estates International, you can trust an experienced consultant like “Scott Binsack” to oversee every aspect of your project, from the design phase, through the building process and right up to final completion.
Call Mansions & Estates International today to learn more about what we can do to ensure your home build goes according to plan. Call 570.259.4315.