5 Smart and Easy Home Upgrades for Prospective Borrowers
A home is more than just a place to hang your hat. It’s also the single largest investment most people will make in their lives. Protecting and adding to the value of that investment is simply a smart economic decision — one that more and more borrowers are interested in pursuing. The Joint Center for Housing Studies at Harvard University estimated that remodeling projects are on the uptick and will continue to rise. More than $337 billion is spent annually on renovation and repair of owner-occupied housing in the U.S. Focus on Changes That Make Homes More Desirable, Modern, and Valuable The first thing most borrowers do once the papers are signed is start making the fixes that the previous owner neglected or adding on features the building is lacking. It’s important to find out which upgrades, improvements, and renovations boost home equity the most and net the greatest return. Some upgrades, like finishing a basement or building an addition, unquestionably add a great deal of value but can be extremely expensive and time consuming. In the wake of the pandemic, with an increase in demand for home building supplies and the headaches of a global supply chain crisis to contend with, some of those major upgrades are coming at…
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