32 Tribute to Realtors & Builders
Ponte Vedra Recorder ·September 24, 2015
Planning a home improvement project?
Financing is the
1st tool you’ll need
(BPT)
If you’re planning a home improvement project this year, you’re in good
company. The economy and housing
market are recovering, home values and equity are rising, and many
homeowners are beginning projects
they had put off over the past few
years. A recent report by the Joint
Center of Housing Studies at Harvard
University predicts that the home improvement industry could post recordlevel spending in 2015.
Creating your dream home could
involve major work, like remodeling a
bathroom or finishing a basement, or
smaller changes like landscaping or
new flooring. As costs can range from
$30 for a can of paint to six figures
for big additions, a significant part of
planning your project is financing. Numerous options may be available and
it’s important to seek information from
an experienced financial professional.
“Many consumers aren’t aware of
all the financing options for home
improvement, or they may not have
thought of those options to pay for
the work they want to do,” says Kelly
Kockos, senior vice president with
Wells Fargo Home Equity. “Homeowners can start by defining a vision of
what they want their finished project
to look like, and talking with a banker
or lender to explore how to pay for
it.”
As you prepare to make decisions
about financing, ask yourself these
questions to get started:
Size of project
How much do you want to spend,
and will you need access to gV