Financing Your Home Improvement!
Liberty Builders of Texas wants to help you save money and increase the value of your home. If you focus solely on your monthly payment for financing your home improvement, you may be missing a few key facts about the cost saving nature of home rehabilitation and energy retrofit. Here are a few examples:
- Let’s say you do a routine energy retrofit and add composite siding and windows. On an average job you can expect about a 70% return on your investment in the appraised value of your home. That’s equity in your home and money on your balance sheet. A $20,000 home remodel may add up to $14,000 in value.
- Liberty Builders products and energy retrofits may lower the cost of your energy consumption by up to 40%. This has been verified by licensed Home Energy Rating System (HERS) specialists. It HAS HAPPENED for current Liberty customers. If you reduce your monthly energy bill by 40%, thats money back in your pocket every month. You can apply that to your monthly financing payment.
- Use Bankrate to help you calculate a payment. On a $20,000 home improvement financed over 15 years, at an 8% interest rate (based on credit), you are looking at a payment of $191.13. If your monthly energy bill is $250 and you reduce your energy usage by 40%, that’s a $100 monthly savings you can apply to your loan payment! That leaves a net payment of $91.13 and you increased the value of your home by up to 70% of your initial investment.
Bottom line…home remodeling helps you increase the value of your home. Your financing payment can be reduced by your energy savings. You end of up with a home you can be proud of and a budget that makes sense!