July 14, 2022
There are many benefits of a home renovation and it can be an exciting venture. Home renovations give homeowners the opportunity to express their individual tastes and style throughout their home. With a plan in mind, an end goal, and an understanding of these benefits, anyone can achieve the home renovation of their dreams.
Benefits of Investing in Home Renovation
Increase Property Value
Upgrading your home is one of the most profitable decisions you can make because it adds value to your home. It can also improve your home’s size, layout, or design so that the space is more aesthetically pleasing and functional. Disregarding the importance of a remodeling project can result in lost money when it comes time to sell your home. Upgrades also influence the appeal of your home. The longer you live there and enjoy the improvements you make over time, the more the upgrade contributes to the overall return on your investment. Renovating your home is a guaranteed way to raise the value of your property.
Reduce Maintenance and Utility Costs
Home renovations help reduce maintenance and utility costs. Repairing your home can be more expensive when maintenance has been postponed or ignored for too long. By starting improvement projects at the first sign of a problem, you will save more in the long run. Examples include replacing your windows, doors, or siding, which can result in greater security and a higher level of energy efficiency.
Provide a Customized Lifestyle
Renovating your home not only increases its resale value, but it also helps you adjust to an evolving lifestyle. For example, you can benefit from extra space to accommodate a growing family; you can remodel a guest room into a home office or games room; or you can transform your kitchen to give you more storage space and an area to entertain guests.
Using a Home Equity Loan for a Home Renovation
The number one use of home equity loans is for home improvement. The benefit of this is that if you purchased a home you’re not totally in love with, and you want to remodel, you can use mortgage lending to get the job done. Whether it be for an addition to your home, aesthetic changes, kitchen and bathroom upgrades, building a garage, or finishing a basement, you can leverage your home equity at a low rate to invest it back into your home for a more comfortable living situation.
Get Home Equity Loans for Renovation at LUSO Federal Credit Union
If you are considering a home renovation, consider exploring the home equity features at LUSO Federal Credit Union. Our lending professionals can help you make the most of your mortgage, manage your finances, get out of credit card debt, start saving for future goals, and get you set up with the loans you need. Our services and rates are available in Hampden County, Massachusetts. For a home equity loan or line of credit in Ludlow or the surrounding areas, contact our Ludlow or Wilbraham branch at 1(844) 587-6328 to learn more.