When you think of a Cash Out Refinance, most people think of debt consolidation or paying off bills. You are taking out money from your home, after all, and that’s a big deal. However, a Cash Out Refinance is so much more. Sure, you can use the increased value in your home to pay off high-interest credit cards or other bills, but you can also make your home more valuable in the long term by taking money out and making home improvements or overdue repairs. A Cash Out Refinance can increase your home’s value.
Put in a pool
Everybody loves a pool. They’re the centerpiece of the neighborhood, and putting one in your backyard will immediately make you more popular on your street. It can also add thousands of dollars to the value of your property, as long as you put in a nice pool. An above-ground, aluminum pool won’t give you a boost, but a well-maintained, in-ground pool, installed by professionals, will make your home more valuable. Sit poolside this summer with a cash out refinance!
Finish your basement
Finishing your basement with extra bedrooms, a home theater, or a “man cave” adds usable space to your property, enhancing both its aesthetic and monetary value. A finished basement adds a full level of livable space to your house, and makes it a bigger, more flexible space. It also makes it more attractive to potential buyers, should you choose to sell and buy a bigger or newer home.
Add a deck
When you’re entertaining in the spring or summer, everyone wants to be outside. Having a deck gives you a platform (ha) to grill from, to entertain on, to serve your guests on. It also adds to the value of your home when you sell or refinance. A deck can add thousands of dollars to your appraised value. The key, and I hope you see the through line on these, is adding value to your home.
If you want to do some home improvement this spring or summer, call The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515 or Nashville at (615) 810-8555. You can always apply online at www.thehomeloanexpert.com, and we’re also open on Saturdays to better serve you. We work hard to make it easy on you. Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?