If you find yourself staring longingly at interior design layouts but think you’ll never be able to afford that elusive dream home, think again. Your dream home might not be too far out of reach if you consider renovating your existing dwelling. A home improvement project can not only add quality to your life, it may also add financial value to your home.
Homeowners in the United States spent nearly 300 billion on remodeling projects in 2010, according to a report from the Harvard University Joint Center for Housing Studies. The report concluded that even with the recent mortgage crisis, the amount of money spent on remodeling projects is on the rise.
Many homeowners decide to use their home’s equity to finance home improvements instead of relying on consumer credit, where interest rates are typically higher. There are different ways to access home equity: through mortgage refinancing, a home equity … Read the rest