Discover Home Equity Loans, providers of banking and financial services, surveyed homeowners planning home improvement projects. The survey showed that only a quarter saved enough to cover the entire cost of the project. Those surveyed and who have saved for their projects are Gen Xers (37%), baby boomers (24%) and millennials (27%).
When your home is running out of space, why not consider revamping your garage? It can provide you with valuable living space and it’s more affordable than an addition. Whether you want an extra bedroom, a kids’ playroom, or a mini theater, a garage conversion can achieve these for you.
A sunroom is an excellent way to bring the outdoors in and enjoy nature in the comfort of your home. Thanks to their large glass walls, they bathe the space with sunlight, giving you a fresh and vibrant space to spend leisure time. They also add curb appeal as they seamlessly blend with your home.
The basement is often the most underutilized part of any house; finishing it opens a world of possibility. The fact that it can be any room you want makes it worth the expense. When done right, a finished basement can increase your home’s functionality and value.
So you have decided to renovate your home, and it may cost you a fair bit. Taking out a loan for home additions can be the best possible option when you don’t have the money saved up. However, come tax season, are you entitled to any tax deduction? In the new Tax Code, the answer is yes as long as you meet these two conditions: