More than 35 million Americans plan home renovations next year

More than a tenth of the U.S. population are planning home renovations in the next 12 months, according to a report from Bankrate. That’s an impressive 36 million homeowners.

These improvements range from simple landscaping or fencing projects to kitchen and bathroom remodeling, new roofs and patios and even home expansions. Don’t forget new flooring, windows and siding. While some homeowners may use credit cards for their improvements, there are other ways to pay for it.

Bankrate’s Mike Cetera suggests that people shop around for personal loans and home equity lines of credit. The latter requires the home as collateral for the HELOC, which on the face can seem risky but the money invested back into the home usually increases its property value.

Travis Credit Union is a great place to get more information about the ways you can fund your home improvement projects. You can stop by our Home Loan Center at One Travis Way in Vacaville or discuss options over the phone with our knowledgeable Mortgage Loan Consultants. For more details about home improvement financing, visit our Home Equity Financing page at www.traviscu.org/home-equity.

Home Equity Financing