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Home improvement financing ideal for fall renovations, winter preparations

Posted on Tuesday, October 8, 2013 at 11:27:09 AM

As the weather changes, so too should homeowners' improvement preferences. The fall is a great time to do many things, but certain projects are better left for other seasons, according to New Jersey-based newspaper the Suburban. For example, a roof repair and window work are good fall renovations.

Additionally, home improvement financing can introduce a number of options for renovations at any time during the year. Recently, Home Loan Investment Bank's Brian Harvey took the time to offer up some advice for prospective remodelers. While the fall is a great time for upgrades, some improvements provide a better return on their investment than others.

"There are many upgrades and improvements that can be done to help maximize a homeowner's return on investment," said Harvey. "With resale as the goal, curb appeal and first impressions are enormously important. Simple and inexpensive maintenance and upgrades such as a new mailbox, shutters, gutters downspouts and landscaping can transform the sell-ability of a home. Larger ticket items such as exterior paint, siding, replacement windows and roofing will cost more but they will invite a prospective buyer to inquire further. A poorly maintained exterior will prompt a buyer to question how well the interior has been kept up as well."

While the outside can be the first place many people may start to spend their home improvement financing, the inside of the house shouldn't be neglected, either.

"Interior renovations can also contribute to the resale value of a home," explained Harvey. "While most project costs will not be fully realized at the time of the resale, they can both entice a prospective buyer and improve the livability of the home while you remain there.

"Most new homeowners look first at the quality of the kitchen and bathrooms and the quantity of living space," Harvey added. "While heavily considering these amenities they are typically not looking to purchase a home requiring any major renovations or upgrades. When considering improvements to a kitchen or bathroom it is important to keep 'artistic' choices to a minimum. What one may consider stylish the next person may not. Select neutral colors and designs that allow for the room's artistic design to be easily manipulated with inexpensive accessories such as door knobs, hardware, light fixtures, faucets, and window treatments. It is also very important to not price yourself out of the home by overspending on renovations. A home worth $100,000 in a neighborhood with other homes valued at the same price will not result in a profit on $100,000 of renovations."

The fall can be a beautiful time for a number of uniquely seasonal reasons, although the changes also mean that winter isn't far off. Therefore, owners may want to focus some home improvement financing for winter preparations.

"When you are a homeowner in a cold weather climate home improvements and home maintenance becomes a necessity," said Harvey. "Energy efficiency is on most home owner's minds at this time of year and there a some simple and inexpensive projects that can be done to help minimize heat loss and maximize your home's energy efficiency - which will ultimately save you money. Converting from a wood burning to a gas fireplace can help considerably as wood burning fireplaces tend to lose more energy than they produce. Also, you may want to consider their detraction of the air quality of your home and the environment. Window maintenance is also vital as 10 percent of all lost energy from a home is through inefficient windows. Thoroughly washing the windows gives you the opportunity to check for cracks, drafts, and damaged caulking and weather stripping. Other low coast preventative measures include adding insulation to attics and crawl spaces, plugging air leaks around pipes and conduit, and protecting pipes from freezing by wrapping them in foam tubing for insulation."

The fall can become the perfect time for any renovations with home improvement financing. Anyone looking for some inspiration could also attend the 2013 Remodeling Show and Deck Expo at the Lakeside Center at McCormick Place in Chicago, from Oct. 17 - 18. Home Loan Investment Bank's improvement experts will be there in booth 730, available to answer any questions about financing and renovations.