Refinance to Fund Your Home Renovation


Over the past several months, most Americans have been spending more time at home than ever before. While being at home may be a challenge for some, it’s also opened a number of homeowner’s eyes to how they can improve their space to fit “the new normal.” With interest rates near all-time lows, Colonial has been working with a number of homeowners to refinance their current home loans and use the funds they receive to immediately improve their property. Below are some of the ways homeowners are using a cash-out refinance to renovate their home to fit their needs.

Home Office

Over the past few years, we have seen less of a priority on needing a home office in a home, but because of the pandemic, millions of Americans have found themselves working from home. Now that many employers have seen their workforce working from home successfully, the need for a home office has shifted back to the forefront. If you are in need of a home office, a cash-out refinance can get you the money you need to renovate that space and create a dedicated working space that fits your new work lifestyle.

Space for Children’s Learning


Another shift in recent months has been kids needing a space to do their online learning and school work. This has been a challenge for many as they may not have a space that fits those new needs. If you want to find out how a renovation can help create the space that works for you and your school-aged children, refinancing may be able to get you the cash available to move forward.

Outdoor Living Space

With many restaurants and entertainment venues closed, you may have found yourself wanting an outdoor space that’s good for entertaining your close friends and family. Make a splash with a new pool or finally get that outdoor kitchen you’ve been wanting. An outdoor living space can provide your home with built-in entertainment that can also improve your property value substantially.

Kitchen

The kitchen is such a vital place in your home. It’s where you gather your family for meals and can serve as a great space to entertain guests. If it’s time to renovate your kitchen to create an open concept, or simply add much needed counter or storage space, a refinance for renovation is a great way to free up the funds to accomplish your goals.

Contact Colonial to Learn More

Refinancing your current mortgage and completing a home renovation may not only allow you to improve your home’s living space, but may also substantially increase the value of your home. Contact me today to see if refinancing your current mortgage to renovate your home makes sense for you!

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