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If you were planning to buy a new home but the recent increase in interest rates changed your plans, consider renovating your current home instead. This could mean remodeling your kitchen, bathroom or creating an outdoor living space that you've always wanted. Learn more about why you should consider remodeling in 2023.
How do higher interest rates affect a remodeling project?
As interest rates have been rising, many potential home buyers are choosing to stay in their current homes, rather than buying a new one. This trend has created an opportunity for homeowners who want to improve their homes but cannot afford the cost of moving and buying another house at the same time. You can get a home improvement loan which is much more cost effective than a new home loan. This allows you to get that new home feel without the big price tag.
What renovations improve a home’s value the most?
Kitchens, bathrooms and outdoor spaces add the most value when considering a remodeling project. Even if you are not planning to sell your home anytime soon, upgrading your home can significantly increase its overall value..
When looking at houses the first few things a potential home buyer typically looks at is the size and functionality of the kitchen, the size, design, layout of the master bathroom, and the outdoor and garage layout. Remodeling these spaces will not only allow you to enjoy them while you are in your current home but also help sell that house when the time comes for a new one.
How to Finance a Home Renovation?
The best way to finance a home renovation is to get in touch with your local bank or credit union. There are many different options available, and we'd be happy to help you choose the best one for your situation. Here are some of our favorites: Neches FCU, Texas First Bank, and Community Bank of Texas.
How do I start the process of finding a builder for my project?
When planning to remodel your home, it’s important to select a builder you can trust. In many cases, you may have heard of remodeling nightmares from friends and neighbors. And remember, the lowest price is not always the best deal. Sometimes the lowest price can mean an inexperienced builder, which is the first ingredient in a recipe for disaster. Avoid that by asking for references, photos of previous projects, and a detailed bid. Check out our gallery to get inspiration for your custom remodel.
At Prestige Custom Builders, we understand the importance of a well-built home. It's a place where you can relax and enjoy each other's company, and an investment that will bring you joy for years to come. We use only the highest quality materials, the most skilled craftsmanship, and the finest experience in remodeling construction to make sure that you receive nothing less than the best for your money.
Call us for a free consultation at: (409) 313-3383. We’d love to help get you started on your dream home today!