Using a Loan to Pay for Home Renovations

When is the Right Time To Consider a Home Renovation Loan?

It’s hard to decide exactly when it’s time to take out a loan to handle a home improvement project. It could be either for a necessity or a preference. A person’s home is the most important place in their life. They should be safe and comfortable at content in their own dwelling.

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So with that in mind, the team here at Noah Construction & Builders wanted to give you a few tips on figuring out which is right for you:

How Do You Actually Decide on the Right One?

This is something that will depend on your own, the personal financial situation. What you can spend and what you can afford all factors greatly into which type of loan would be best for you.

Common Traps and Problem

If resale and investment value is something that is important to you, then you may want to consider the cost of the renovation vs. the increase in property value that it offers.

What Types of Fees Can You Expect?

The costs and fees associated with a home renovation loan can also vary greatly, depending on the one you opt for. Here are some of the options:

  • Personal loans
  • FHA loans
  • Cash-out mortgage refinance
  • Home equity loan or line of credit

And no matter which option you ultimately end up going with in regards to the loan you get, your friends at Noah Construction & Builders can take care of the actual project for you. You can give us a call and speak with one of our renovation professionals over the phone at (631) 750-2837.

Reasons to Consider Extending Your Home

When you first purchase a home, you typically buy for space you currently need, not the need that may arise in the future. We tend to think that it just means it’s time to upgrade to a bigger house. However, extending on your current home may actually be more cost-effective and simpler than moving!

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For many, moving is a time consuming and stressful time. Adding on to your house eliminates the need to pack up an entire home, make a new house your own, and adjusting to living in a new space. This is especially more difficult if you add children and pets to the mix.

Extending your home is usually less expensive than purchasing a bigger house. You’ll be able to take out a much smaller loan if necessary. Refinancing your mortgage could even be an option to cover the expenses. Investing more into your current home will likely increase your profits if you do sell down the line, as you’ll be able to charge for more square footage.

One of the biggest bonuses of adding a new room to your existing house is that every choice is up to you. You get to pick the aesthetic, design, materials, and layout. It can be customized to suit your exact needs while searching for a house that meets everything on your checklist could take months, if not longer.

If you’re considering expansion, give us a call at Noah Construction. We’re a family-owned business with over forty years of experience in total home remodeling. We’ll work with you to ensure your project is done perfectly and professionally with as little disturbance to your day to day life as possible. We will deliver quality and craftsmanship unlike any other! Feel free to give us a call or head over to our website to schedule a consultation online today!

The Values of Home Improvements

One of the biggest obsessions amongst homeowners concerns value. Watching your home value bounce around at the whims of a changing housing market can be a nerve-wracking experience and it’s not uncommon to want more control over that process.

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The good news is, while you can’t control the housing market, you can at least increase the value of your home. A recent National Association of Realtors (NAR) survey found that improving your home can make it easier to move on the market and can also raise the price that you can confidently ask for it.

A document prepared by the NAR, the 2019 Remodeling Impact Report, reviewed 20 home improvements and collected information from homeowners that have attempted them. The survey, conducted in preparation of the report, found that 74% of homeowners were more inclined to keep their homes after the improvements.

Naturally, some improvements have a greater return on investment, with kitchen renovations receiving the highest score possible. Some 93% of homeowners expressed a greater desire to be home since completing the project and 95% said it added to the enjoyment of being at home. Another pair of projects that received top marks in the survey were closet upgrades. Whether it is adding more closets or expanding upon existing spaces, closet upgrades fix many of the minor frustrations homeowners experience on a regular basis and create more joyful spaces with more capacity.

As the results of this report show, improving your home can make a significant impact on both your home value and your own personal satisfaction. So whether its a kitchen or closet upgrade or even just a simple repaint of the interior, it’s worth considering a few renovations for your space.

Noah Construction & Builders is a fully licensed and family-owned construction company with over 35 years of experience working in construction. Specializing in large-scale residential construction and renovation, we have just the expertise you need to make your dreams a reality. If you have any questions about renovating your space, give us a call at (631) 750-2837. We look forward to helping you!

Six Signs You Need to Fix Your Roof

Often overlooked, at least in comparison to other house repairs and maintenance, roofs are one of the most critical components of your home. While they are designed to last for a long time, they do require maintenance and an eventual replacement as the building ages. Additionally, having periodic inspections of your roof performed by a contractor can help you identify problems early and avoid costly repairs down the line. Let’s take a look at some common issues.

Read moreSix Signs You Need to Fix Your Roof

How to Talk About Your Style with Home Professionals

Are you preparing to build your dream home? If so, you likely have a visualization of your dream home in your head. However, the hard part of building your dream home is getting this visualization to translate to home building professionals. For tips on how to talk about your style with home professionals, just keep reading this blog post.

Read moreHow to Talk About Your Style with Home Professionals

Should You Remodel or Rebuild Your House?

If you are considering a major upgrade or remodel to your home, another option may be to tear the house down and rebuild. It may sound extreme, but there are serious financial issues to consider when homes reach a certain age. Noah Construction & Builders wants you to be informed about your choices, so let’s consider the issues of remodel versus rebuild.

Read moreShould You Remodel or Rebuild Your House?

Tackle Kitchen and Bathroom Remodeling the Smart Way

When remodeling your kitchen and bathroom, there are some key aspects that you must be aware of. It may be tempting to knock down walls yourself and throw in a lot of new cabinets, as you may see on television. You must know what aspects to invest in and which to not. It is also important to plan well to decide what you can afford and what designs will work together. There are tips and tricks that you must be aware of before diving into any remodeling project.

Read moreTackle Kitchen and Bathroom Remodeling the Smart Way