According to CNBC, renovations that improve curb appeal — like garage door replacements, wood deck additions, and veneer installations — are paying homeowners back 18% higher than last
Home Improvements Could Grow Your Property Value and Make Your House Easier to Sell
20% of REALTORS say a kitchen upgrade helped close a home sale, according to the 2019 Remodeling Impact Report
Consumer Reports notes that making needed or wanted repairs and improvements can save you money on homeowners insurance
What’s an FHA 203(k) Renovation Loan?
Also sometimes referred to as a Rehab Loan, an FHA 203(k) loan allows you to finance not just the purchase of a home, but wanted or needed repairs and improvements.
This type of loan is ideal for current or new-to-you homes that need major TLC, but aren’t eligible for standard mortgage loans. Because your lender keeps track of the repairs you do, you can get a loan approved for a home that wouldn’t otherwise be eligible.
With a single loan, you can buy a fixer-upper AND fix it up. Or renovate your current home to get more enjoyment out of living there!