If you need to get your basement remodeled but you aren’t sure you have enough saved, we at Finished Basements LLC, have good news for you.
When you want to remodel your basement, it can be scary to sift through the associated costs. You’ll try to balance your budget with sacrifice, only to end up spending a good chunk of money on a room that you didn’t really want.
We won’t do that to you here at Finished Basements LLC. We offer free estimates and free consultation before work begins. If you don’t think your renovated basement is something you can afford alone, we have several financing options available. We believe you deserve the basement of your dreams, and we want to make the financial burden easier to carry if you remodel your basement.
When you’re working on a home improvement project, it’s always best to pay for it with savings that you’ve got put back, rather than borrow money. The reality is, however, that construction financing plays a large part in property renovations businesses today as well as in the new home construction areas.
If you have a reasonably stable income and reliable work, financing may be a good option for you. Paying small increments over a longer period of time to finance major home improvements like finishing your basement or remodeling is becoming more and more common.
Once you find the best financing option for you, paying for your renovation can be a little easier to handle. A home improvement project, like finishing your basement, adds value to your home, and if you plan and calculate carefully, it can be worth it.
How Do I Get One?
At Finished Basements LLC, we may be able to help you find local financing options you can use. There are several local lending institutions that are familiar with our work as well as our loan payout schedule. As with all financing possibilities, look at the fine print. Keeping in mind how much money you’re borrowing and how high the interest rate runs is an important part of choosing the best financing option for you.
Financing Options Include:
• Home equity: If your property value is higher than that of your mortgage, you can take out a loan based on that equity.
• Personal loans: With a higher rate of interest, these loans aren’t secured by tangible assets. They’re based off your credit and ability to repay the loan based on your income and debts.
• 203K loan: 203K loans are becoming more popular for renovation expenses because they’re flexible, have lower interest rates, and give you a better deal. Of our financing options, it’s the only one that will allow you to include the property value that’s being added on by the improvement work to the loan before the work is completed.
• Credit cards: If the financing period is minimal, financing your project through credit cards might not be a bad idea. Out of our other options, the interest rate does run higher. But, when used to temporarily cover costs before refinancing or when there’s another financing plan in place, credit cards can be a great option.
No matter what financing option you choose to utilize, don’t let money stand in the way of your dream. Getting a refinished basement from Finished Basements LLC is investing in quality that will last for decades.