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%).
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:
Most home remodeling projects, whether it’s custom deck building or basement renovation, can eat up a significant amount of your time and money. To keep everything running smoothly and to make the most of your investment, work only with a professional. They have the necessary training and experience to ensure your project is done perfectly from the start. But not all contractors are the same, so choose carefully.