Spring is here and home improvement is in the air.
Spring is the start of home improvement season and it's the time when home shows come to town and people start thinking about how they want to remodel or spruce up their homes.
But with all that's happened to the economy and the housing market over the past few years, I know many of you may be wondering whether you can afford a home improvement project, or if banks even have money to lend. The answer to that last question is a definite "Yes!" - at Middleburg Bank we have money to lend to our neighbors, and we have several financing options to meet your needs.
So where do you start? While our local loan officers can help you through the process, here's a general idea:
- First, think about what you want to do to your home. Do you want to simply spruce it up, or make some needed repairs or do you want to undertake a major remodeling project? For example, a fresh coat of paint or new kitchen countertops might be a way to freshen your home, new windows or carpet might be considered repairs, while that new master suite or bonus room would fall under new construction.
- Next, determine whether a home improvement project will add value to your home. Generally, kitchen and bathroom remodels add the greatest value to an existing home. Cosmetic improvements and repairs don't add value, but they do make your home more comfortable for everyday living.
- Once you decide to move ahead with the home improvement project, consult with a Middleburg Banker to discuss financing options. We have local lenders in each of our offices who can meet when and where it's convenient to you. They will review several financing options - a personal loan, a home equity loan or refinancing your existing home.
- If your home improvement project is more geared towards standard repairs or cosmetic changes, a personal loan or home equity loan might be your best option. If you are looking at a major remodeling project, you may be able access your home's equity to fund the project by refinancing your mortgage while rates are at historic lows.
Today's loan rates remain quite favorable, so if you are considering any home improvements, or are ready to get started on your project, contact a Middleburg Banker today. We're here to help you make your home improvement dreams a reality!
As always, if you have a suggestion that would make your banking experience with Middleburg Bank even better, please send me an email at firstname.lastname@example.org.
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