Renovations can make us happier in the places we call home, but some updates can add real value when it’s time to sell or refinance.
Because some renovations — think an updated kitchen, new deck or remodeled bathroom — can get pricey, it’s helpful to know what kind of return you might expect before you decide to take on a remodeling project.
Why to consider a home renovation
Remodeling your home adds to your enjoyment, but it can also boost your home’s value over time, too. When you refinance your home, for instance, renovations will be taken into account when a property appraiser assesses your home’s current market value. A higher home value means you’ll have more equity, a lower loan-to-value ratio. You might even be able to cancel private mortgage insurance payments earlier than anticipated.
Click here for more information: https://www.king5.com/article/money/personal-finance/bank-rate/home-renovations-most-at-resale-list/281-6089c4ca-84c1-46d8-a6dd-b463022fe48c?fbclid=IwAR11beJaL2kfJZ0gGvvfgEphb_XFUeQj59FKC7SE5BogryZ2cpYS-i5ovcw