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3 Responsible Ways to Finance a Home Remodel – PropertyManagementReviews.org

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Many homeowners undertake renovations in the fall before winter sets in. market research company ibisworld estimates that home remodeling is a $52 billion market that grew 3.8 percent between 2009 and 2014. Still, not all home improvements are created equal. Many homeowners assume they’ll recoup their investment in renovations when they sell the property, but that’s not always the case.

A: Owners finance home-remodeling projects in many ways, from using savings to borrowing from a 401k to bank loans. Here are some of the most common avenues to pay for your dream remodel.

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Remodeling a room in your home – whether it’s a kitchen, bathroom or bedroom – is a big task that requires a lot of coordination and planning. The first and often the most daunting task is figuring out how you will finance your project. The good news is that there are a number of options to.

With that in mind, consider the following three responsible ways to finance a home remodel. Take out a Home Equity Line of Credit. This is perhaps the most popular type of loan that people take out when beginning a remodeling project. This financing option is available to you if you have equity in your existing home.

News, email and search are just the beginning. Discover more every day. Find your yodel.

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