Replacement Windows and Doors from Liberty Builders of Texas

Are you looking for Energy Efficient Windows and Doors in the San Antonio Texas area

Here are ten advantages of choosing Liberty Builders of Texas to replace your home’s old windows and doors in the San Antonio Texas area:

  1. Family owned and operated exterior remodeling company for over 30 years.
  2. Maintained an accredited A+ rating with the BBB for over 20 years now.
  3. Exclusive dealer and installer for the Generations Window line.
  4. Generations Window by Simonton has been recognized by JD Power for its service and craftsmanship.
  5. Lifetime accidental Glass Breakage and lifetime screen replacement.
  6. Laminated Glass package available for security & sound.
  7. Partner of Build San Antonio Green to make homes 35% more energy efficient.
  8. Multiple exterior colors and interior wood grains available.
  9. All sales staff and installation crews are Certified by the Window manufacture.
  10. Our replacement windows and doors can be 100% financed.

Click here to visit Liberty Builders of Texas and contact us for a free in home consultation!

When your thinking about exterior remodeling, remember Liberty Builders of Texas!

Financing Advice from NAHB (National Association of Home Builders)

Here are some great points regarding financing your home improvement project from the National Association of Home Builders):

One of the most important considerations for your home remodeling project is financing. After all, the project will go nowhere if you can’t pay for it.

Fortunately, there are several options that can provide the dollars you need. Four of the most common are a home improvement loan, a home equity line of credit, a home equity loan (second mortgage), and a cash-out refinancing of your current mortgage. However, the simplest method of financing is cash.

Cash

If you have cash in savings to pay for your home remodeling project, this may be the best way to finance your home improvements. But be sure to consider the fact that, by paying in cash, you tie up money that could be earning interest in other investments. In other words, you need to look at the interest rate that you would be charged by financing the project and compare this to the interest you could earn by investing these funds.

Interest payments on a home improvement loan may be tax-deductible, while the expenses of a remodeling project paid for in cash cannot be written off. Crunch the numbers and meet with a financial advisor to determine whether paying in cash is best for your financial situation in the long run.

Home Improvement Loan

Two special loans administered through the Federal Housing Administration (FHA) are the Title I and Section 203(k) programs. A Title I loan allows you to borrow up to $25,000 for improvements to a single-family home. These are fixed-rate loans that FHA insures against the risk of default. Loans must be made by an approved Title I lender.

The 203(k) program is not as well known, but if you are looking to purchase a fixer-upper or foreclosed home, it is a terrific opportunity. It allows home owners to receive a single, long-term, fixed or adjustable rate loan that covers both the acquisition and rehabilitation of the property. To obtain a loan under the 203(k) program, you must use an FHA-approved lending institution. Most mortgage lenders are approved to make loans through this program.

Home Equity Line of Credit

A home equity line of credit is a form of revolving credit in which your home serves as collateral. This allows you to tap into the funds whenever you need. The credit line is usually set at 75-80% of the appraised value of your home minus the balance of the first mortgage. Your credit history and ability to pay may also be considered in determining the amount of credit available.

Home equity lines of credit usually carry a variable interest rate that is figured by adding a margin to the current Prime Rate or some other index. Other costs associated with setting up a line of credit may also apply and will vary from lender to lender.

Second Mortgage

If you are not comfortable with the open-ended nature of a line of credit (which requires discipline to ensure that you don’t go way over budget), a home equity loan, or second mortgage, may be right for you. This is a fixed-rate, fixed-term loan based on the equity in your house that is paid back in equal monthly installments over a specific period of time.

Cash Out Refinancing

If interest rates today are significantly less than when you first purchased your house, refinancing your mortgage may be a wise move. The refinancing alternative allows you to use the accumulated equity in your home to take out a new loan to pay off your existing mortgage and then use the remaining funds for your remodeling project.

Make sure you factor in the length of time you plan to live in the house and the number of years left on your current mortgage before you decide to refinance.

Keeping Your Budget in Line

Once you’ve decided how much you can afford to spend fulfilling your remodeling dreams, the real challenge is making sure you stick to this budget. So, how can you prevent your expenses from spiraling out of control?

  • Plan on spending only 80% of what you can afford. Put the additional 20% in reserve to cover changes, unforeseen problems, and miscellaneous charges.
  • Remember that anything not included in the original contract will cost extra. It’s very easy to start tacking on hundreds and even thousands of dollars in change orders that will break both your budget and your timeline.
  • Stay focused on the task at hand. Stick to the project you have planned rather than deciding that now is the time to overhaul the rest of the house.

San Antonio’s Remodeling Market

There are two key items that affect the home remodeling market: first, the overall stability of the home buying market and secondly, the credit standards banks apply to lending.  We have seen over the last year and a half that our local market in San Antonio continues to be the oddball in comparison to the rest of the country.  This can be attributed to a few things, but most importantly, you can identify our housing stock as stable and not over-valued.  Texas, and San Antonio in particular, have steady home values that reflect strong home ownership and remodeling success.

A homeowner has two choices.  They can either upgrade and buy a new home or remodel and upgrade the home they are currently living in.  The credit crisis over the last few years has really limited the home buying options and made the ability to find good credit and cheap interest rates difficult.  However, we are seeing San Antonio on the home improvement rebound and it is quickly becoming a “buyer’s market“.  Here are a few steps to think about when the time comes to look for your credit options:

  1. Do you have an established, long term relationship with your current banking institution?  If so, what kind of financing products do they offer?  What are their rates and basic terms?
  2. It is always best to examine who a home remodeling company partners with for financing.  At Liberty Builders of Texas, we have a 20 year relationship with San Antonio Federal Credit Union and a strong partnership with Wells Fargo.  Both are trusted names in the lending industry.  If you are shopping and use a contractor’s financing source, always examine who they are and how they treat their customers!
  3. Find lending terms that don’t penalize early payoff and always examine the interest rate and term.  Too often, a customer will be more worried about the rate and pay too much in the longer term financing.  Always look for a good combination that fits your personal financial needs.
  4. Examine the long term cost of credit.  Read the fine print and determine how much it costs over the life of any loan.  While it is a startling number sometimes, it will help you realize that although a payment is low, over the longer term you pay more.  It will also help encourage you to pay off your loan faster!

Buying a home takes a lot of time and paperwork.  If your choice is to purchase a new home, then be prepared for the time and energy input to make it happen.  If you like your home, want to stay, but aren’t sure how you can update or upgrade, reach out to a home improvement specialist and find out how you can “stay home” and upgrade what you currently have.

Create a Remodeling Strategy

Summer is here.  Now is the time to begin updating the small things around the house and maybe, plan for the bigger remodeling ideas you may have thought about, but never completed.

As with most projects, time and ideas are needed to be successful in your planning.  The best thing you can do is be prepared and know what you are getting into before you get started.  First things first…complete a planning and routine maintenance checklist.  If you want to listen to an expert, start with Martha Stewart!  Check out her spring cleaning planning strategy by clicking here.  You can use this great Summer Cleaning Checklist as well.

After you are comfortable with your routine maintenance, start thinking about all the updates and upgrades you have dreamed about completing on your home.  Some may be  cost effective and others may be a large scale remodel where square footage is added or rooms re-finished.  It is alway best to examine your budget and sit down with your family to really prioritize what is best for you and your home.

Better Homes and Gardens offers a great month by month Home Improvement Plan.  Use this as a guide and remember to always find a good balance between cost and quality.  Additionally, it is always wise to think through your investment from a cost/benefit analysis perspective.  For instance, replacing your windows with energy efficient, energy star rated windows decreases your energy consumption and lowers your monthly energy bill.  This is money back in your pocket that can offset your initial cash outlay for the upgrade!

When it is all said and done, the best you can do is take care of the basics up front.  Simple routine maintenance and spring cleaning can go a long way.  Once that is done, focus on the big ideas and make it a family effort to build and customize your home!