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2021 Home Renovation Costs: Is It Worth It?

Friday, September 3rd, 2021

Every homeowner comes to a point where they must decide whether they want to open up their wallets and undertake a renovation project. Even if you’re going to pack up and move, you’ll need to decide whether it would be lucrative to upgrade your dingy bathroom or old-fashioned kitchen to increase your return on investment.

The high cost of renovation projects can be daunting, but remodels can reap high rewards. Let’s look at different types of home renovation projects and if the cost is worth the outcome.

Kitchen Remodels

Many people consider the kitchen the center of living space. It’s where friends, families, and neighbors gather and connect over a meal. Having a beautiful, welcoming kitchen with upgraded appliances can make or break a house’s value.

Doing a kitchen remodel is also one of the smartest investments you can make, as it has one of the highest returns on investment for minor renovations — it yields an average ROI of 81.1%! If you’ve dreamed of finally having your dream kitchen, the investment may be wise. You don’t have to break the bank either. Homeowner Funding can assist you in covering your kitchen remodel costs to support you in your dream kitchen journey and building home equity. 

Bathroom Renovations

Your house’s bathroom is an equally important room — it sets you up for your day and helps you decompress after coming home. Bathroom renovations can be great ways to give your home and your lifestyle a facelift. 

However, aesthetics are not the only good reason to invest in a bathroom renovation. Your bathroom may need an upgrade due to safety issues or system failures like bad plumbing or tiles that have started to crack or fall off. Even switching your showerheads can save you significant bucks in the long run. A family of four can save up to $260 per year when they go from a 5.5gpm showerhead to a 2.5gpm fixture!

When you seek bathroom renovation financing, you’ll benefit from a more functional space and excellent long-term savings. You can also pass these benefits onto a future buyer and receive a higher price for your property. 

Insulation Installation

Although it does not add any visual sparkle to your home, insulation is one of the most important aspects of your property’s function and safety. Insulation protects your home from extreme temperatures and ensures your family members stay warm during the winter and cool during the summer.

Investing in insulation now is one of the smartest things you can do because it also helps you cut costs on your heating and cooling systems while also improving the air quality of your home.

Depending on the type of insulation you get, you can expect to pay anywhere between $0.30 and $1 per board foot. But these costs will pay for themselves, as property owners will reduce their heating and cooling costs by 15% annually.

If you are looking for insulation renovation, give us at Homeowner Funding a call to help you cover your renovation costs!

Room Additions

Rising construction costs can make a room addition seem daunting, but the price tags are well worth it.

Feeling cramped in your home can be an uncomfortable experience, but making a room addition or “bump-out” is one of the most effective solutions available.

Note that the square foot cost can range from $100 to $200 per square foot. Higher-end properties will incur a square foot cost of up to $500 per square foot. But you can increase your property’s resale value by as much as $20,000 (or even more) with an additional bedroom!

Additions to your home will grant your family members (and future buyers) a more versatile living space where they can truly feel at home. Whether you want to add more dining space, expand your primary bedroom, or build a new room altogether, you can recruit the team at Homeowner Funding for financial assistance.

Conclusion — Increase Your Return on Investment with a Home Renovation Project!

Here at Homeowner Funding, we know home renovation projects can demand high upfront costs that can cause stress for many families. However, we also understand that renovations done right can increase your family’s quality of life and the resale value of your home. 

So if you’re ready to invest in your home and your future, Homeowner Funding can assist you in covering your renovation costs. Come see us today and start your dream home!

Home Renovations: DIY vs. Hiring Professionals

Monday, August 30th, 2021

Does your home have outdated features or older rooms? It may be time for a home renovation to increase your property value and keep up with the current trends.

DIY or “do it yourself” projects can be cost-effective if you want to save money. However, some renovations are better off in the hands of a general contractor.

Below, we discuss common home renovation projects and help you determine whether DIY or hiring a pro is the right move.

Replacing Windows

Everyone has a different skill set for renovation projects. If you are installing one window, it could be a good task to do on your own. However, hiring a pro may be best if you have multiple side-by-side windows.

DIY Renovation

You can save money by replacing your old windows with energy-efficient windows. You will need glass, a frame, and tools for possible resizing. Analyze the steps you need to take to see if you can accomplish them on your own

•             Removing the old window

•             Adjusting the frame

•             Installing the new window

•             Wrapping it

•             Insulating it

•             Replacing trim and casing

Hiring A Pro

If you are worried you may mess up on a step, you should hire a general contractor. An improperly installed window could let in air infiltration and cause water damage to your home. Additionally, it may be a lot of work to gather the tools your project requires when a general contractor already has them on hand. 

Bathroom Remodeling

You may want to remodel your bathroom because of bad plumbing or an outdated design. In any case, it is one of the more involved renovation projects because it includes plumbing, electricity, and tiling. However, bathroom renovations that you complete on your own can save 40% to 60% on labor costs.

DIY Renovation

When you get bathroom renovation financing, there are many projects you can complete on your own. You can demolish the old bathroom by taking down cabinets and shelves or ripping out tiles. You can paint the walls yourself and buy clearance shelving or artwork for a spruced-up style. And if they aren’t damaged, old plumbing materials like a sink, toilet, or bathtub are reusable. These steps can help save money and prevent you from having to rework major sections of your bathroom.

Hiring A Pro

If you have a large-scale bathroom with complicated plumbing and electrical wiring, you should consider hiring a pro. Those who don’t have the proper training could cause their sink or toilet to stop working or cause issues with the lighting in the bathroom. A general contractor will be able to tell if old pipes require replacement and can prevent water damage.

Roof Replacement

Your roof should be protective, durable, and long-lasting. Natural events can cause wear and tear to your roof, eventually requiring you to look at replacement options. Or you may be looking for an aesthetically pleasing roof that fits your house’s style. Whatever the reason, a roof replacement needs your careful attention.

DIY Renovation

Home roof replacement is one of the more challenging and time-consuming home renovation projects. You will have to do lots of research, such as exploring what type of material works best for you, like asphalt, metal, rubber, or slate roofing. This complicated task may be a DYI renovation if it is an easy fix, like applying sealant or reattaching a shingle. Even still, you should ensure you know what you’re doing before grabbing a ladder and scaling your home. 

Hiring A Pro

Hiring a professional roofing contractor is the right move for a big task like a total roof replacement. They will be able to complete your roof promptly. There is a safety concern if you are not trained with the proper equipment and climb up your house. There is also a liability and insurance concern because your provider may not cover any damage that was your fault. It may be more expensive to buy extra tools yourself rather than hiring a pro who already has all the equipment they will need.

Call Homeowner Funding

Some homeowners are eager to grab their toolbox when something goes awry. While we commend the initiative, DIY isn’t always the best route. Because home renovation projects can be time-consuming, costly, and a hassle, you’ll be better off hiring a pro in many cases. 

Need help making a decision? Want to see what funding is available for your renovations? Contact Homeowner Funding today to learn more about our services!

Top 4 Ways To Pay For Your Landscaping Project

Friday, August 27th, 2021

Landscaping projects are expensive. Paying for the labor of the landscape contractor and the landscaping companies they work for racks up the bill without even considering the price for materials.

At Homeowner Funding, we understand the stress of figuring out how to cover the project costs and the maintenance costs for upkeep after the project is complete. We’re here to help you discover your best payment options, including our home improvement renovation grant.

Listed below are the top four ways you can pay for your landscaping project.

1. Take Out a Personal Loan 

Personal loans may be the fastest way to secure the funds necessary for any landscaping project. This kind of credit can be secured or unsecured.

Depending on the loaner you use, you can take out a personal loan in as short as one business day, as long as you meet all the requirements.

This type of loan often doesn’t require any appraisal or lengthy paperwork process. The use of collateral in secured personal loans means you’ll need to have healthy credit and little debt. Checking your credit score is the best first step to see where you stand before applying for the loan. 

A benefit is you can check to see if you qualify for a personal loan to cover your project costs without affecting your credit score. A personal loan lets you consolidate the funds and debt into a single monthly payment that you can pay off in small increments.

2. Government Home Improvement Loans 

Private lenders are not the only option when looking to cover landscaping and maintenance costs. This loan is income-based, so it is most beneficial for anyone looking for private home loans for bad credit.There are many options available depending on your needs. 

There is not one government-funded loan. Eligibility for application is discerned by age and where you live, as well as income. Although this is one of the top options for homeowners with bad credit, others can still apply to see if they can have any portion of their project costs covered. 

These are separate from the government home improvement grants included in this list. These will need to be paid back in full with a monthly payment depending on your payment plan set up. 

Landscape contractors and landscape companies will not need to be aware of your income-based status. 

3. Home Equity Loan (HEL)

A home equity loan is a good option if you plan to finance landscaping projects with separate payment due dates or need to pay different landscape contractors. Interest rates are relatively low and offer flexibility by allowing you to withdraw funds. On the other hand, most traditional loans only payout in one lump sum.

This option may not work for new property owners. This loan requires equity, which seasoned homeowners will be able to provide. You use the equity of your property as collateral. The amount of money you can get will depend on the value of the property. 

The process of receiving a HEL can be time-consuming. You’ll need to assemble specific paperwork and have your home appraised before you know if the loan will cover the landscaping project costs. Although this may not be available to new property owners, long-time homeowners can benefit from this option. 

4. Homeowner Grant Programs 

You don’t have to pay back funds that you get from homeowner grant programs. Rather, the investor provides the money for homeowners to improve the value of their properties. These funds can cover any landscaping projects and maintenance costs, with income determining eligibility. 

Each state has different requirements. You can find websites online that may require a small fee to help you connect with a grant option that works for you. You can also find available homeowner grants approved by housing counseling agencies. 

Our home improvement renovation grant is a funding option to cover specific home improvement project costs. 

Once you have gotten the funds you have applied for approved, don’t hesitate to reach out to your local landscaping companies and landscape contractors. 

Call Homeowner Funding Today

Homeowner Funding provides the resources for you to easily find the best way for you to pay for your landscaping project. Project costs should not be impossible to pay. Applying for loans and grants, including our home improvement renovation grant, takes off the burden of doing it alone.

Homeowner Funding can help you pay for your dream landscaping project. If you have bad credit or need a grant, we can help you find a loan. Contact us to find out how.

8 Proven Ways to Increase Home Value

Tuesday, August 24th, 2021

Home improvements increase the value of your home whether you plan to sell next month or next year. We at Homeowner Funding are here to give you tips on the best way to boost your home and help provide the funding. 

Below, we list eight ways to increase the value of your home. We guarantee that these improvements will impress any potential buyer when you are ready to sell. The best part? Before you sell, your family will get to enjoy them!

1. Open Your Floor Plan 

A little space can go a long way if you know how to present it. You can repurpose an extra bedroom into a library or art studio space. 

Adding a few extra square feet will reinvigorate your space and increase your property’s value. If you’re committed to adding more space, these additions to your home can give you some inspiration for ways to renovate your floor plan. 

We can even help you figure out how to pay for home addition plans that boost your home without breaking the bank.

2. Remodel Your Kitchen 

A remodel does not have to end with a brand-new kitchen installation. Minor improvements like installing new lighting or adding a fresh coat of paint are enough to increase the value of your property.

As you get ready to sell, you should also focus on your current appliances. Instead of replacing them entirely, do a little maintenance to liven them up.

For a bigger remodeling project, modernize the look by incorporating backsplash and cabinet trends that will appeal to any potential buyer.

3. Upgrade Your Siding

Your house’s exterior is what makes or breaks the first impression. Siding is often an afterthought, but it’s an essential part of your curb appeal and offers ample protection from the elements.

The material you choose for your siding will create your property’s aesthetic. Think about what statement you want your property to make.

Upgrading your siding is a great improvement as you plan to sell your property and will boost your property’s durability.

4. Become More Energy Efficiency

Buyers want a property that is energy efficient and environmentally friendly. A potential buyer does not want to pay high energy bills when the air conditioner can barely keep a room cool.

Upgrading insulation or replacing windows that do not properly shut will make a big difference. Additionally, a proper maintenance check of all major appliances can clear out any clogged filters that are contributing to poor airflow. 

5. Install Smart Technology

Modern safety or smart home automation devices are a popular selling point for anyone who wants to customize every aspect of their property to suit their needs.

Smart devices like thermostats, security, cameras, and lighting can add value and appeal to potential buyers. Installing these devices is a significant home improvement and will add unmatched efficiency. 

Smart technology can also help owners feel safer or more connected to their environment. With these feelings of security, a potential buyer will be willing to top dollar. 

6. Replace Appliances

Boosting your house with brand-new appliances is a major selling point. Most buyers want to purchase a move-in-ready home. 

Appliances that come from “energy-sucker” brands or even have outdated colors will leave a potential buyer disappointed. Remember that energy efficiency is a top priority in the market as homeowners look for ways to live comfortably while reducing their carbon footprint. Plus, they want their new home to look stylish! 

7. Restore Carpeting

Buyers don’t want to think about replacing all of the floorings immediately after moving in. 

Replacing all of the carpets can be a pricey task, so focus on the most worn-out or stained floors. If your carpets aren’t due for replacement, hire a reliable carpet washing company to freshen them up. 

8. Enhance Your Curb Appeal

These basic home improvements will enhance your home’s curb appeal.

•             Keep your yard and other outdoor spaces neat. Get rid of weeds and spruce up the lawn to look healthier.

•             Pressure wash the fence, driveway, and other outdoor spaces. One cleaning is often enough to make surfaces look almost new.

•             Repaint the front door, windows, and even the entire house if the current coat is noticeably old. You want your house to stand out (in a good way!).

Get Started on Renovations Now

Your home’s value is just as important to us as it is to you. We can show you how to increase it even more and help you prepare for the cost of additions. 

Ready to sell? Contact Homeowner Funding today to get started on increasing your home value. We offer everything from kitchen to bathroom renovation financing, so we’re your one-stop shop as you plan to sell.

How to Budget for a Home Renovation

Tuesday, August 17th, 2021

Creating a budget can be rather difficult, especially when it comes to new projects. Knowing what you want is the easy part, but figuring out how to manage the cost is usually another story.

What is the secret to a proper renovation budget? Details. From including shipping costs in the calculations to knowing exactly how many parts to buy, sticking to the plan often comes down to the details. Check out our process for creating a detailed renovation budget and preventing overspending.

Step 1: Create a Detailed List of Goals

Start by making a comprehensive list of all that you wish to accomplish in the renovation process. This step will help establish an order of priorities and ensure you meet deadlines. 

As you make your list, ask yourself questions such as the following: 

•             What do I want to accomplish overall?

•             Which renovations are a must?

•             Where can I compromise?

•             Which aspects am I willing to splurge on?

Carefully consider the implications of your priorities and their order. It may not always be best to complete the most important project first. For example, say your number one goal is to have a new front door. If that is the most convenient entryway into your home, you may consider waiting until you finish other indoor projects first. 

Step 2: Get Multiple Contractors to Bid

Before you can establish a budget, you have to have a sense of the potential renovation costs. Online research will help you understand the average rates in your area and ensure you receive a fair bid. However, you will need to get contractors to bid on your project as costs will vary depending on your needs.

We recommend having at least three contractors bid on your projects. Having multiple contractors bid will give you plenty of options without being overwhelmed. It is important to understand each aspect of the bid and the details for each one, as they may differ slightly. While the cheapest bid may reduce renovation costs, it is not necessarily the best option. For instance, one contractor may be more expensive but offers cleanup services that another company does not. 

Step 3: Look Into Financing Options

There are tons of financing options out there, but some are definitely better than others, depending on your circumstances. That being said, this is definitely a step you should put a lot of effort into, as it can significantly impact overall renovation costs. 

Credit is a huge part of qualifying for financing options. If you know your credit score is less than optimal, consider ways to boost your credit score fast. However, do not forget that there are also some private home loans for bad credit. Some contractors even offer special financing. 

Additionally, a home equity line of credit loan is a popular option for renovations. Simply put, it acts as a second mortgage. It works by allowing the homeowner to borrow money against the equity of their home. Instead of receiving a lump sum of cash, the homeowner borrows against a line of credit. The interest rate and payments for home equity line of credit loans are not fixed. 

Home equity loans, on the other hand, provide the homeowner with a lump sum of cash with fixed repayments in return. Homeowners apply for a specific amount and receive the total amount upfront if approved by a lender. Home equity loans have a fixed interest rate and fixed payments for the term of the loan.

Step 4: Apply for Grants

Grants are an excellent way to cut down on renovation costs and stick to the budget, and they might even be more accessible than you may think. From large federal government agencies to small independent local businesses, home improvement grants are not very hard to find. 

There are many ways to qualify for a home improvement renovation grant. Individuals can qualify based on characteristics such as ethnic background, income, credit, and age. Plus, there are grants based on the features of your home. For example, there are several options for historic homes and those in rural areas. 

Once again, pay careful attention to the details. There may be deadlines for applications, long turnaround times, or rules on how to use the money. Some grants even require certain qualities in potential contractors. 

Get Funding for Your Renovation Budget Today

This guide shows that keeping renovation costs affordable doesn’t have to be hard. As long as you plan your renovation budget accordingly, you’ll be able to create the home of your dreams. 

Need help scoring money for your project? Contact Homeowner Funding today to explore your options!

Is Building a Garage a Smart Investment?

Tuesday, August 10th, 2021

When it comes to homeowners’ reasons for adding to their homes, increasing property values is at the top of the list. Even so, many people overlook the ROI of an attached garage. Even those aware of the return-on-investment can be unsure of how to get funding for a plan of this size.

For homeowners interested in building a garage or seeking funding for their dream project, here’s a thorough guide on adding a garage to your home.

Recouped Value of a Garage Home Addition

According to the data provided by Remodeling magazine, building a new garage has an ROI of approximately 64.8%. This return-on-investment is one of the best you’ll find when it comes to additions to your home. A master suite — with one of the next highest room addition ROIs — only has an estimated 55% recoup value in comparison.

Planners considering an attached garage should note that these calculations are mainly for detached add-ons. Building an attached garage will still increase the property value of your house but won’t bring an ROI as high as a detached garage.

The Specifics of Adding a Garage to Your Home

Through research specific to your renovation plans and speaking with a contractor, you’ll discover details about adding a new garage to your home. However, there are a few construction options that you’ll want to consider regardless of your specifications:

•           Two-car space: A larger space will add much more appeal to your house than a smaller one. Also, the extra space is still a great bonus for homeowners who aren’t interested in raising their house value.

•           Lighting: These structures often don’t get much natural sunlight, so it’s important to include enough artificial light in your renovation plans. Fluorescent lighting, along with double outside lights, will create a moderate amount of brightness.

•           Windows: Whether you have good lighting or not, the natural lighting and design of windows in your structure will easily boost its appeal. Five double-hung windows is a good number, but any number of windows will increase the value of your attached garage.

You and your contractor can also decide on other considerations, like dimensions and building materials.

Situations Where Adding a Garage to Your Home May Not Be the Best Choice

Though a garage home addition generally has a good return on investment, there are certain scenarios that would lead to a decreased recouped value.

For starters, this addition will bring a higher return on investment to those who plan on moving out of their house fairly soon. Much like a car, a home addition can lose thousands in value for each year that it has existed. Individuals staying in their house for years to come should hold off on any renovations only meant for increased property value.

On top of that, any home addition project will be a bit pricey. Since a new garage won’t recoup the full cost you spent on it — no home renovations will — it might be better to look at other renovation ideas if a project of this size could hurt your credit score or monthly finances. Still, if you need a bit of help making your project a reality, there are contractors that’ll show you how to pay for addition to home projects.

If any of these situations apply to you, that doesn’t mean you can’t take the project on. In terms of home renovations, an attached garage still has plenty of benefits regardless of what its recouped value may be. As you would with all renovations, weigh the pros and cons alongside how much the project would mean to you.

Other Ways a Garage Home Addition Can Boost Your Finances

A new attached garage can benefit your financial situation in various ways.

With all the space a two-car home addition has, individuals are much less likely to have a monthly storage unit bill. The attached garage can also reduce the cost of car ownership by protecting your vehicles from the elements. With your vehicles safely inside, theft, vandalism, and accidental damage will become much less likely.

Building a Garage Might Be Perfect for Those Who Love Home Renovations

When it comes to an add-on for your house, a new garage stands out as one of the most beneficial possibilities. Like any major home renovation, building a garage will take a lot of time, energy, and money. Homeowner Funding is happy to get you on the right path to make the process as easy as possible.

How to Build Equity in Your Home

Monday, July 26th, 2021

Building equity in your home gives you a fantastic long-term asset. The more of the property you own, the more you are eligible to borrow using a home equity loan — and at a better interest rate.

Every time you make extra payments on your mortgage, you take a large stake in the ownership of your house. The capital you build when you pay off your mortgage can be used to secure an excellent equity line of credit when you need cash. You can use this cash to upgrade or remodel your house. This will increase its value on the housing market when you sell the property, earning you more money in the long run.

What Is a Home Equity Loan?

A home equity loan is a loan you take out against the part of your property that you are the full owner of. This means the value of the property that isn’t owned by your mortgage provider. For example, if:

•             Your house is worth $300,000

•             Your deposit was $50,000 and the mortgage secured the further $250,000

•             You’ve paid off $100,000 of mortgage

Then you’re in ownership of $150,000 worth of the property: this is the equity in your home that you own. You can use this to secure a home equity loan that provides a strong equity line of credit for big spending projects.

Of course, the more you’ve added to your home since you first got your mortgage, the greater the value of the property. So if you’ve conducted $50,000 worth of home improvements, such as adding a new roof or a conservatory, then you have $200,000 worth of property to secure a home equity loan. The more you own, the better the interest rate you’ll likely have access to on a home equity loan. Also, your property will be worth much more when you put it on the housing markets.

The Best Ways to Build Home Equity

So, how do home improvement loans work? First, you need to choose a project you want to finance. A great place to start is future improvements to your property. You can build equity in your home by increasing its value, which in turn allows you to secure a better interest rate on future loans.

This allows you to build a strong, constant equity line of credit that constantly increases your equity in your home. Below we’ve detailed some examples of improvement projects that work brilliantly for this process.

Replacement Windows Financing

A great way to increase the value of your property is to upgrade its windows. Drafty windows with poor locking mechanisms stand out like a sore thumb to potential buyers or the surveyors who value your home. These may seem like small details but can easily take a lot away from the value of your property in terms of the security and comfort it is judged to offer.

Accessing comfort window financing can help you build equity by significantly increasing the value of your property. Using a home improvement loan to finance this will allow you to secure a better interest rate for future projects — and also make your house a more comfortable place to live.

Help Paying for a New Roof

A new roof can dramatically increase the value of a property. This is especially true if it’s a high-quality roof with a long lifespan, such as a metal roof made from a material like copper. However, these roofs are expensive, and you’ll likely need to use a home improvement loan for help paying for a new roof.

By using the equity you already own in your property to secure this loan, you can get a great interest rate and finance an investment that will see the value of your property increase massively. Remember: the equity from these improvements belongs to you, rather than your mortgage provider. You can use this equity to fund further improvements to your property and get ahead in the housing markets.

Alternatively, you can use the cash to pay off your mortgage even faster, further increasing the stake you own in the property.

Let Homeowner Funding Help with Your Home Improvement

Whatever project you decide to use to help you build equity in your home, you need support from a trusted home improvement loan provider. After all, building equity in your home starts and ends with remodels and updates. Homeowner Funding can help with that. Contact us today to learn more.

The Best Bathroom Renovation Trends of 2021

Monday, July 26th, 2021

With the amount of time we spend in our homes, we want it to feel as warm, cozy, and inviting as possible.

But areas of the home that often go overlooked are the bathrooms and powder rooms. With so many beautiful modern bathroom ideas, you can make these areas just as beautiful as your kitchen or living space!

Read on to explore the best bathroom renovation trends of 2021. From recessed wall storage to wood treatments, you’re sure to get the inspiration you need to make the ultimate transformation.

If you need help financing your remodels, Homeowner Funding can help!

Recessed Wall Storage

Towels, toiletries, bathing products, hair styling tools, skincare products, and more — it’s no secret that we put many things in our powder rooms; bathrooms aren’t all bathtubs and showers. But where can it all go if you have only a few drawers for it all?

We can all use a little more storage. By installing inset shelves or recessed wall storage, you can add a lot of storage without taking up extra space. And with the average bathroom size coming in under 40 square feet, using space wisely is essential to keeping things tidy.

If you want recessed or inset wall storage installed in your home, an Owens Corning preferred contractor from our team can help you create beautiful storage for your master bathroom or powder room.

Floating Vanities

If your powder rooms feel small, you want to create space in any way that you can. Consider adding a floating vanity!

This structure is much more space-efficient than the average sink, which is generally 36 to 48 inches wide. It is much more compact, frees up room for easier movement, and gives you storage underneath. Plus, it looks amazing with modern decor!

As fancy as floating vanities look, we know you might be worried about the cost. Luckily, Homeowner Funding makes it easy to afford all of your renovations through our bathroom remodel financing. Call us today to talk about your options and get started on your project!

Patina Metals

Changing one small thing in your 2021 bathroom can change everything. One thing that is super easy to do but will make the biggest difference is the hardware in your modern bathroom!

Is your hardware simply taking care of the plumbing, or is it making a trendy statement? By swapping out your current hardware for Patina metals, you can turn an outdated room into a trendy bathroom remodel.

Patina metals, which look like metals you’d find in a classically fashioned home, bring a touch of the traditional to your modern bathroom. So if you have a bit of nostalgia and appreciate classic beauty, you’ll love making the switch to these stunning metals.

Soaking Tubs

Your master bathroom shouldn’t just be where you go in to get out as fast as possible. It should be your safe haven!

If you love to pamper yourself, you will love having soaking tubs in your home. Soaking tubs are one of the coolest trends for a 2021 bathroom as it brings sophistication to your space.

Soaking tubs, also known as freestanding tubs, have a variety of styles to fit your taste. Whether you select clawfoot tubs or more contemporary soaking tubs, you will love relaxing in your bathroom remodel with this piece.

Wood Treatments

For some, it’s hard to make powder rooms feel homey. And with so much porcelain, metals, and plumbing, it may not feel like a place you’d want to stay. But that can all change with just a simple addition of wood!

By installing wood in your powder rooms, you can extend the cozy feelings from the living room to the powder rooms. While not always found in powder rooms, you can add wood to your walls or even decor. Whether you use true wood or a paint that looks like wood, it’ll add much-needed warmth to your 2021 bathroom.

Get Funding for Your Modern Bathroom Renovation

We’ve presented quite a few renovation options that will help you transform your home. While you’re not going to use all of them, it’s important to choose the ones that best suit your style. Nonetheless, guests and family members alike will appreciate the much-needed upgrade.Best of all, you can get all these trends and more for your home with our financing services. Homeowner Funding provides bathroom finance with bad credit options and superior customer service. We know you’ll love your new, modern bathroom! Call us today to discuss your options.

Financial Options for Funding A Flip

Monday, July 26th, 2021

House flipping is a great way to make a profit through real estate investment. Unfortunately, though, it can be quite expensive to perform all of the necessary renovations that come with the territory.

If you’re getting into this business, you’ll need to be familiar with your financing options.

Loans for house flipping are different from the typical home improvement loans you would get through the NRIA program, and these projects also don’t always qualify for traditional financing options. But you shouldn’t let this discourage you! There are still plenty of accessible financing options for those looking to fix and flip a property.

Read on for an overview of six of the most common financing options homeowners and real estate investors take advantage of when flipping houses.

Traditional Financing

Traditional financing from your bank may be an option for some homeowners, depending on their credit score and their bank’s policies regarding home improvement loans. It’s often the most comfortable financing option for those who qualify, as you can obtain funding through a financial institution that you already have a relationship with.

However, there are some things to watch out for when taking loans from the bank. Interest rates tend to be quite high, and there are sometimes obscure penalties that you wouldn’t expect. Make sure you understand your bank’s policy before borrowing.

Real Estate Investors

You can be sure that you’re not the only homeowner in your area interested in real estate investment. So if you’re having trouble raising funds and you’re willing to share your eventual profits, you shouldn’t have too hard of a time finding real estate investors to go into business with.

You don’t have to limit yourself to industry professionals, either. If you have willing family or friends with the funds, they can act as personal investors to help you with the financing. Be sure to compensate your investors by either paying them interest rates or a portion of the final profits.

Hard Money Loan

You also have the option to get your funding from money lenders in the form of a hard money loan. 

These short-term loans are relatively easy to get approved for. The money lenders can usually get you your money in just a couple of weeks, and you will typically pay back the loan in one or two years.

Money lenders do charge interest, of course, so you’ll have to account for this in your budget.

Home Equity Line of Credit

While often home improvement loans don’t cover fix-and-flip jobs, some varieties can be used for these projects. One of these is called a home equity line of credit, or HELOC.

But how do home improvement loans work? Well, in the case of a HELOC, it’s sort of like getting a credit card for your house. The bank will use the value of your home to determine your credit limit and allow you to borrow funds within this amount.  

You must account for interest rates, but you only have to pay interest on the funds you take out. Plus, the financial commitment shouldn’t be too severe as most homeowners decide to borrow from a HELOC in small amounts over time.

Crowdfunding

The recent surge in the popularity of crowdfunding has made real estate investment more accessible for many house flippers. There are plenty of real estate crowdfunding platforms that allow investors to collect small amounts of money from many people at once, making the financial burden easier on everyone. Investors are typically compensated via interest or a profit percentage.

401k Loan

If you participate in a 401k plan through your employer, you may have the option to borrow against it. If your plan allows this, it’s a great way to get a loan without having to pay interest to someone else. It’s almost like borrowing money from yourself!

Of course, your retirement may be in danger if your flip doesn’t generate the profits you were hoping for, so be sure to keep this in mind when considering this financing option.

See How Homeowner Funding Can Help You

House flipping is an expensive and labor-intensive endeavor, so if you’re going to take on this task, you’ll want an Owens Corning preferred contractor like Homeowner Funding by your side along the way.  

That being said, once you get capital to pay for the renovation work, flipping houses can make you more than enough profit to justify the expense. That’s where Homeowner Funding can help. Visit our website today for more information about our financing options!

How to Prepare for a Home Renovation

Monday, July 26th, 2021

Home renovations can be stressful. From sending your house into disarray to completely compromising your daily routine, home improvements can really upheave the structure of your life. 

However, there is one way to avoid these pressures — and that’s thorough preparation. Simply sitting down and planning your home renovation can play a major role in making the whole process run as smoothly and cost-effectively as possible. Before you hastily call the contractors, plumbers, painters, and decorators, do some planning first. It’ll all be worth it in the end.

If you’re looking for some ideas on how to prepare, take a look at these four tips below:

1. Remove as Much as Possible

There will be a lot on your plate initially, from researching metal roof vs shingle roof cost to asking contractors for their portfolios. However, you need to look inwards as well.

Before your workers come in to start on your home, you must clear the space as much as you possibly can. Move couches, chairs, and coffee tables to a less busy side of the room. Plan to move it as your contractors need to relocate to different areas of the room.

Not only will this initiative provide a larger construction area for the workers, but it will also prevent the furniture you have from getting damaged. 

For example, with renovations such as a bathroom or kitchen remodel, chances are you’ll have old tiles being removed and new ones taking their place. This element of a kitchen or bathroom remodel will create an immense amount of dust and mess in the areas of your home. You won’t want the debris falling on your furniture and causing stains and general damage. 

2. Find a Storage Unit

For some home improvement projects, you won’t be able to keep your furniture indoors. In this instance, you’ll need to move these items into a suitable storage space for safekeeping during your remodeling project. This way, you can ensure that all of your valuable and sentimental assets are stored away safely and will be in pristine condition when you come to put them back in your newly renovated home.

When researching for secure storage units, consider these tips to ensure your belongings will remain safe:

•             Choose a local storage unit: Renting a storage unit close to your home will allow you to regularly check on your belongings. The short distance will also allow you to make multiple trips if there are other items you need to store throughout the remodeling project.

•             Check out a few facilities first: Before renting the first unit you come across, make sure you do your research, as there may be units in your area that are more affordable with bigger spaces. You should also make sure the area is respectable and has a good reputation. You can usually check reviews online to read about others’ experiences.

When adding house additions, you’ll probably have new furniture ready and waiting, too. Keeping it in storage will prevent it from getting damaged throughout the home improvement process.

3. Cover Leftover Items

For those furniture pieces or other household items that simply can’t be removed during the home improvement process, we advise you to cover them. For example, you should cover floating shelves or light fixtures that are staying behind with suitable sheets. Whether you use fabric sheets or plastic sheets, just ensure that the whole area is covered. You’ll even want to cover carpets and wooden floors outside of the construction area, as you’d be surprised at how far dust can travel throughout the areas of your home.

4. Keep Everything Organized

When it comes to organization, it doesn’t just mean looking after your belongings and keeping them safe. You should also stay organized with the finer details of the remodeling project. For example, you should keep hard copies of all your receipts and contracts. It’s also a good idea to keep an ideas board that specifically depicts your home improvement plan. Whether your construction workers dismissed the house siding options you provided for them or painted your walls the wrong shade, it’s good to have physical evidence on hand. Make sure you have all of these items digitized, too, so you can bring them up for a quick reference. 

Start Preparing Today

When you feel prepared, call Homeowner Funding to learn which financing options are available to you! We have an abundance of home improvement services available that will cater to all budgets. Whatever the remodeling project may be, we will be there to help all the way.