Renovating? Laying a good foundation for home improvement success
Q. We’re thinking about renovating, but want to plan an overall strategy for the best outcome. Any suggestions?
A. You can build your foundation by accomplishing these important tasks.
I came upont the following, relevant information on the Wells Fargo’s home improvement lending center site:
Talk to a renovation specialist. Acquiring a renovation loan allows you to finance your new home mortgage and your renovation plans into a single loan. And an important aspect of the renovation loan to remember is that it’s a product in which the loan is based on the value of the home after it’s been improved. If you are renovating your existing home, you can use the loan to refinance your existing mortgage and make the renovation updates.
“Many consumers are not aware of the opportunities with renovation financing because not every lender offers this option, said Bill Trees, national renovation program manager, Wells Fargo. “Wells Fargo is the nation’s leader in renovation financing. We serve all customers from first time homebuyers to repeat buyers, and have a team of specially trained home mortgage consultants across the country that only focus on renovation lending.”
Speaking with a renovation lender can help you build your financial foundation for your renovation project.
Finalize your vision. Selecting the proper renovation specialist and contractor are key to your project, but both of these professionals will be able to provide you better service if you have a vision for what the project entails. You may not know exactly how much the project will cost, but you should have a budget in mind. If your contractor asks questions about layout or wall preferences, be ready to make the decisions and guide him or her toward your goals. Approaching the project with a plan will eliminate miscommunication and regrets later.
Renovating a new or existing property can be an exciting time, and establishing the proper foundation for the project can help you pass inspections and build the home you’ve always wanted. You can learn more about how renovation financing can make your dream project a reality by visiting the Wells Fargo Home Improvement Lending Center.
