Cashology by FNBO

Dreaming of a Home Improvement Project

Episode Summary

Home improvement projects – they can add real value to your home. But more than that they can help you fall in love with your home all over again. Remodeling the kitchen or adding a bathroom are some common home improvement dreams. Things like energy efficient windows or insulation sound boring but can add a lot of value, too. The question is how do you pay for them? That’s what we’re going to talk about today.

Episode Notes

TALKING POINTS

Are there others that don’t make the same return on investment?

What if you want to make these improvements but feel you don’t have the savings to cover it? What are some of the options homeowners have?

And you can borrow against that equity to pay for your home improvement project?

And the difference between the loan and line of credit?

And the interest is tax deductible with either the loan or line of credit?

Any other thoughts for homeowners dreaming of a home improvement?

Useful info/links

  1. Money Crashers: https://www.moneycrashers.com/7-home-improvements-to-increase-its-value/
  2. Investopedia: https://www.investopedia.com/mortgage/heloc/home-equity-vs-heloc/
  3. FNBO: https://www.fnbo.com/insights/mortgage/dreaming-of-home-improvement/index.html