Why Move When You Can Improve?
As time goes on, families grow, needs change, and the free space in your house seems to get smaller and smaller. Whether you are looking to increase the size of your home or just need a change of scenery, moving is not the only option available to homeowners. Construction or remodeling can make a significant difference in the appearance of and your equity in your home.
No matter what your reasoning is for improving rather than moving, a community bank is the perfect place to go to get the ball rolling on your home renovation. Community banks offer something that big banks cannot: flexibility. Here are some tips for how you can get financial support from a local bank for the major home remodel you have been waiting for!
A local realtor may be a good place to start to discuss which home renovation project will add the most value to your home. Typically, adding square footage, especially in the form of an additional bedroom, is the best investment you can make in home construction project.
Next, meeting with your local loan officer will give you the opportunity to discuss the renovation you can afford and how you will afford it. Getting an estimate of what your payments will be and how the project will affect the equity in your home given the location and local housing market conditions can help you determine what the scope of your project really can be.
At Great Midwest Bank, we have a few different financing options for your major remodel. Contact us to get your home renovation conversation started!