We're in the age of do-it-yourself homeownership. Through online tutorials and big box improvement stores, homeowners have the means and education to complete their own renovation projects, but are they happy with the overall project? According to a Zillow analysis, three-quarters of homeowners completed a DIY home improvement project in the last three years, but nearly 40 percent of those homeowners wish they hadn't.
As homebuyer demand continues to outpace supply, a new Zillow analysis found that there are 12% more fixer-upper homes on the market now than there were five years ago. Low existing home supply coupled with competitive homebuyers has created a seller’s market, and with high demand for houses, sellers aren’t feeling the pressure to make updates before putting their home on the market.
Renovation TV shows like Fixer Upper and Rehab Addict can inspire homebuyers to purchase a home in need of some TLC, but they leave out a very technical part of the process: financing the renovations. Fannie Mae's HomeStyle® Renovation Mortgage is one of a few renovation loans we offer. This loan type allows purchase and refinance borrowers to include financing for home improvements into the transaction of an existing home. Here's what you need to know about this renovation loan.
At some point as a homeowner you’re going to come to an inevitable, emotional and mathematical fork in the road. Whether your starter home isn’t enough for your growing family, you’ve recently become an empty nester or you just really want an updated kitchen or floor plan, you’ll likely ask yourself whether it’s in your best interests to remodel or renovate or list and trade up.
Looking into remodeling or renovating your kitchen in the near future? According to Remodeling magazine's 2016 Cost vs. Value Report, minor kitchen remodels boast a cost recoup of 83 percent. If you're looking for some renovation inspiration, check out our list of kitchen trends for the new year.
So you just bought a house; congratulations! Making your home yours is where the real fun begins, but it's also a good idea to adjust to the costs of homeownership before making large scale home improvements and renovations. Here are some cost-effective but aesthetically-pleasing home improvements you can mostly do yourself and complete on a budget.
Whether you're looking to improve the quality of your home while living in it or trying to spruce up your home before selling, there are several home renovations that will recoup the majority of your investment. Then again, there are several home improvements you'd think would add value but actually hurt it.
Decisions. Decisions. Decisions. You’ve narrowed down what you think is the perfect home, but have you assessed all of the little things on top of the major items? Make sure your home purchase is well suited to your needs by reviewing these easy-to-miss home factors.
According to a report from Harvard's Joint Center for Housing, home improvement and repair spending will increase 8 percent by the beginning of 2017. As existing home inventory has dwindled, homebuyers have purchased homes that need repairs, renovations and improvements.
Whether you’re planning to sell your home in the near future, want to update your home’s appeal or improve your home’s livability and efficiency, not all remodeling projects are created equal. According to the National Association of REALTORS ® 2015 Remodeling Cost vs. Value Report, Americans spent over $300 billion on remodeling projects in 2015.