Are you considering remodeling your home but aren’t sure it’s the right time? You may be surprised! Keep reading to find out why now is an excellent time to invest in remodeling your home.
Rock-Bottom Housing Inventory
Historically low interest rates have left many people wondering if they should pack up and move. However, one problem remains; the inventory of available homes is extremely low. Opting to remodel instead of move means you don’t have to compete with other buyers, and you can still transform your home into the space you’ve been dreaming of through a renovation.
Remodeling Makes Good Financial Sense
Purchasing a new home can be a costly endeavor. There are realtor fees, competing offers, closing costs, moving services, and even the cost of new furniture to consider. By the time it’s all said and done, you may find yourself paying way more than you expected for a new home, especially in this hot market! Remodeling is often a more cost-effective solution for homeowners, even more so if you love your existing neighborhood. It also puts you in a much better position to sell your home down the road. Making improvements can significantly increase your home value.
Low Interest Rates for Home Improvement Loans
If you’re planning an extensive remodel, taking advantage of low interest rates can be incredibly helpful. While you can take out a personal loan, there are different options available specifically for making home improvements. Two of the most common are home equity loans and a home equity line of credit (HELOC). A lender can help you figure out which type of loan is the best option for you and your project.
It’s the Perfect Time of Year
Summer is just around the corner, and there’s no better time for Midwesterners to remodel their homes. This is especially true if you’re planning to remodel your kitchen. After all, summer is grilling season! No matter the project, remodeling can be a messy (i.e., dusty) process. Warmer weather means you can open the windows and let the fresh air in.
Ready to invest in your home remodeling project? Connect with our team anytime – we’d love to help you get started!