You may have heard all of the hoopla about how now is the time to buy a home because, while interest rates were at an all time low, they are now on the rise. Well, what if you don’t want to buy a new home? You love the house you’re in. But, you wouldn’t mind updating the kitchen or the bathrooms. Maybe you need new windows or a roof. Refinancing may be the answer.
Well, back to those interest rates. Yes, they are trending upwards. With that being said, they’re still low. So, even if you aren’t in the market to buy a new home, you might want to consider refinancing to pay for those home improvements that you’ve been wanting to do for a while now.
Now, we concede that not all home improvements will yield a positive ROI. You probably know that kitchens and bathrooms tend to pay off. Those are also more fun. But, maybe you have a foundation problem that needs to be taken care of, that will definitely pay off. However, did you know that things like knocking out a wall to combine two rooms to create a larger master bedroom will actually hurt you come appraisal time than help?
Bottom line is: why wait until you have to sell to do the updates that you’ve been wanting to do for years. Why not do them now and enjoy them? Just do your homework and be sure you’re reinvesting your money wisely. If you want to know more about what options you have to refinance, give us a call today! No commitment, just check out your options.