Ways to Finance Your Remodeling Project

by Washington Federal Team on June 5, 2012

With better weather on the way, you may be considering some remodeling projects for your home. Whether you are in the market for a new sunroom or you need to replace your roof, these projects can be expensive.

Here are some tips to make it easier for you to complete your home renovation projects.

Set priorities.

Home ownership is wrought with rewards, but owning property is not without its fair share of responsibilities. Before you undertake any remodeling projects, you should establish a list of priorities with regard to improving your property. A leaky roof should take precedent over a new kitchen.

Assess your own capabilities.

While some projects on your docket may be best left to professionals, you might be surprised how much money you may be able to save if you are capable of doing the work on your own or with a few friends or family members. Painting, cabinetry and even installing flooring may be easier than you think. Drop by your local home improvement store; they will often offer free or inexpensive classes on how to complete various projects around your home.

Consider projects that will add the most equity to your property.

Understanding where your money will be most effectively spent is important as well. Consult with a real estate agent in your area to find out what additions might add the most value to your property within your local market. Oftentimes, a relatively small investment in home improvement can add significantly to the value of your home; this may be particularly important if you’re considering selling or renting your home within the next few years.

Whether you are a do-it-yourself weekend warrior or plan on hiring a contractor to handle your project, Washington Federal offers a variety of loans to help you finance your project  In fact, with our All-in-One Construction Remodeling Loan, we can base the loan on the estimated value of your home after improvements. Stop by your local branch to find out more about our home loans, including home equity lines of credit, and what financing would work best for your project.

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