Why You Should Finance Home Improvements When You Buy Your Home In Tri Cities WA

Why You Should Finance Home Improvements When You Buy Your Home In Tri Cities WA

Finance your home improvements or upgrades as part of your home purchase

Within the first 24 months of buying their home, 95% of home buyers spend over $10,000 in home improvements, usually themselves, at Home Depot, Lowes, and other like retailers. It's amazing how much we see needs done only AFTER we've moved into our new homes!

It's great to do projects around the home that increase our enjoyment of living there, and add a little personal touch. But, there's a sad truth to the majority of that money spent...

More often than not, that money is charged on the store card, or another credit card, at an average of 18.9% interest!

And how many husbands say "Don't worry honey, I'll get that fixed!", only to have 16 or so projects started, and none completed, a year later?

And, did you know that almost every home built before 1999 has outlived its air conditioners AND its insulation lifetime? To say nothing of old appliances and other big-ticket items around the home.

From a financial viewpoint, (as well as peace of mind!), it makes much more sense to pay for your home improvements as part of your initial home purchase.

Please look at the chart below, and compare your monthly payments under different scenarios. And don't forget one other big advantage to paying for improvements as part of your mortgage; the interest you pay on a home mortgage is tax deductible, while consumer credit interest is not.

And, if you already own your home, you can pay for improvements through a refinance.

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*Interest rates shown are only for comparison

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Phone: 509-572-5538
Dated: May 2nd 2017
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