This is the absolute best time to begin to plan your Springtime Renovations, be it the Interior or the Exterior of your home.
There is nothing more gratifying than the feeling of pulling in to your driveway looking at the awesome updates that make your house look next to brand new.
Currently, by speaking to your qualified Mortgage Professional, you will discover that by taking advantage of the equity in your home for Home Improvement purposes is more affordable than you have ever considered.
The Variable Rate Mortgage today enjoys an interest rate of 2.25%, while if you would rather fix the rate, a 5 year term is as low as 3.89%.
The CMHC Mortgage and Real Estate Report has been very clear about the most profitable areas of your home to renovate and enjoy the maximum increase in the value of your home. Kitchens and Bathrooms are the number one most popular reno, and that will in most cases increase the value by what you spend.
It is also a great time of the year to have a good look at the condition of your roof, windows and air conditioner. These are all expensive upgrades that will immediately qualify for you to take equity out of your home and refinance the mortgage.
Many clients of ours have also chosen to upgrade the Landscaping, interlocking walkways, patios or decks.
Remember the most important thing is that you enjoy the fruits of your labour. Capitalize on your equity and reap the benefits today – you can’t take it with you.
Rick Moran, AMP, OMB # M08001997
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