Spring Projects + Home Equity Products
With the arrival of spring after a long, cold winter, homeowners in Central Ohio often start home improvement projects to enhance their living space and increase property value. Whether you're considering room additions, building a new deck, installing fences, or undertaking other renovations, spring is an excellent time to bring these projects to life.
Choosing a Reputable Contractor
Selecting the right contractor is crucial for the success of your project. Start by seeking referrals and reviewing the contractor's portfolio to assess their work. Ensure they have the necessary license and experience for your specific project, along with adequate insurance and liability coverage. Before work begins, a clear contract and agreement outlining the scope, cost, and timeline of the project should be established to protect both parties.
Project Considerations
Before diving into your spring project, it is important to establish a realistic budget and define the project's scope. Consider how the project will add value to your home and be aware of any homeowners' association or city restrictions that might impact your plans. These initial considerations can help ensure the project meets your expectations and adds the desired value to your property.
Benefits of a Home Equity Product
Financing your spring projects can be challenging as well, but if you have equity in your home, products such as Home Equity Lines of Credit (HELOC) or home equity loans can help. Both options leverage the existing equity in your home but differ in terms of disbursement and repayment. Understanding your home's equity, the loan-to-value ratio and the potential tax implications can guide you in choosing the right product for your needs. Additionally, home equity products can be used for less well-known purposes, such as debt consolidation, providing a versatile financial tool to simplify your payments on your outstanding loans or high-interest credit cards.
KEMBA Can Help Fund Your Projects
Whether you are interested in a HELOC or a home equity loan, KEMBA is ready to guide you through the application process and help you select the best option to suit your financial and project needs.
For more information on how you can leverage home equity for your spring renovation projects, we invite you to visit our website and explore our comprehensive home equity products. If you prefer personalized advice or have specific questions, please feel free to visit a KEMBA branch near you. You can also contact our dedicated member service team at 614.235.2395 and select Option 4.