Remodeling may be easier than ever to finance. According to ATTOM, nearly half of U.S. homes were equity-rich in the second quarter. Black Knight reports that the average homeowner now has $216,900 in available equity. Homeowners that benefit from a historically low fixed rate first mortgage are incentivized to stay in their home. Furthermore, with significant accumulated equity as a result of real estate appreciation, now is the time to invest in making your house a home.

An improvement project may increase your home's value. If you delay selling your home and instead decide to renovate, you may be able to recoup the money you spent when you sell later on. More importantly, you will be making your home more livable and enjoyable for yourself while you remain.

Consider the fit between your home and lifestyle. Do you love your current neighborhood? Maybe you would prefer a shorter work commute, or need more space to accommodate a growing family. A decision on whether to move or stay should take into account your broader life goals and needs.

Whether you want to tap your home equity for renovations or are looking to upsize to a different neighborhood, turn to the experts at National Iron Bank to meet your financing needs. Contact us to learn more!

Excerpt from Ameriprise