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Home Advice You Can Count On.

We make it easy to do everyday banking at Horizon, but everybody still needs some sensible advice from time to time to help with their goals and strategies for saving, investing wisely and making the most out of your financial journey. That’s why we provide fresh advice topics to help you along the way.

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Can You Justify a Home Makeover?

Man and woman standing with paint rollers on newspaper

Is your home looking a little weathered and worn? Maybe your family is growing and you need an addition to your house. Maybe your home needs upgrades before it can be put on the market.

But how do you know if a home renovation is right for you and your budget?

Consider the right home makeover idea.

Different projects can add different value to your home. You'll want to choose projects that add value to your home, but you also want to keep in mind that you don't want to price yourself out of the neighborhood.

Here are some popular renovation projects you may want to consider:

  • Upgrade your kitchen or bathroom
  • Replace your old appliances with energy-efficient models
  • Replace or redesign your windows
  • Fix basic cosmetic and structural issues, such roof shingles or siding issues etc.

Have a project in mind? Let’s figure out how much it will cost. How much money can you afford to spend?

Consider whether any loan you take out for remodeling will still allow you to keep your total monthly housing costs under 28 percent of your gross income, a typical rule of thumb for home-related, or front-end expenses. These costs include payments on the loan principal and interest, private mortgage insurance, hazard insurance, property taxes, and homeowner's association dues.

Makeover quick tips:

  • Keep a realistic perspective for what your remodeling project can achieve within your allowable budget.
  • Get pre-approved for a refinanced mortgage, home equity loan or line of credit before you sign any paperwork with contractors or make decisions on project plans.
  • Make your goals and budget clear to contractors you interview for the remodeling job. Ask for references and look into online reviews.
  • When choosing a contractor, don't just pick the lowest price. Make sure the contractor you choose can stay on time and on budget and also is reputable.

    Home improvements can increase the value and aesthetic feel of your home! Contact us today to learn more about what’s the best option for you. Let Horizon, your local home improvement lender make your home improvement project a little easier.

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