Are you in this situation: you know you need remodeling of your Dallas home, but you don’t know how to finance it?
During these tough economic times, many families are woried about the cost of home improvements, and put them off, even if they are badly needed. Home remodeling is a financial investment, so it is wise to consider all your financing options before you decide to put off what could actually make you money in the long run.
One of the most common ways people finance a home remodel is through a home equity line of credit (HELOC). If you have enough equity, a HELOC allows you to borrow on your home’s value, using the home as collateral. You can borrow up to the credit limit, and interest rates are often low. If you go with this option, be sure and shop around for a competitive rate.
For those who don’t have enough equity, or otherwise don’t qualify for a HELOC, consider Unique Properties’ in-house financing or one of the other options discussed in this series.