Are you thinking about remodeling or refurbishing an older home instead
of buying a newer model? A cash-out refinancing or equity-backed loan
could help finance your plans, while the following tips could help save
time and money:

Check the infrastructure. This includes the home's foundation, walls
and roof. How old is the wiring and plumbing? Do you need to redo the
insulation?

Consider existing finishes and fixtures. Old finishes and items such as
doorknobs, sinks and bathtubs may give an older home its ambience. You
might want to consider having them refurbished, rather than replaced.
But you also want fixtures to work properly. Replacement may be your
only alternative if these items are too old or worn.

Evaluate the floor plan. While many older homes are classy on the
outside, the interior floor plan may be "limited." In today's market of
open designs, with two-floor foyers and half-walls, you may want to
consider what you are willing to live with. While you can make small
additions and changes, if you have to do too much, you might as well
purchase a new home.

Get professional help. Before you dive in, consider hiring an
architect. A few thousand dollars invested now could save you tens of
thousands later.

Think budget. To refurbish an older home, you may have to spend a hefty
amount of money, but budget wisely and stick to it. Plan for
overruns--unanticipated changes are sure to happen. Tip: Refinance for
more cash than you need. You can always pay back the excess.

Set up a schedule. One of the most frustrating parts of remodeling and
refurbishing (especially for the do-it-yourselfer) is not knowing
exactly how long the project will take. You don't want to start as a
young couple and end up as grandparents by the time you're done. Be
realistic.

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by visiting www.RealEstate-IQ.com.

P.S. Thinking about doing a home improvement? Mention this article
and receive a Home Depot Gift Card valued at $500.00 with your next
refinance or home improvement loan.

Regards,

Scott Miller
National Commercial and Residential Lender
Carteret Mortgage

1.877.716.6495, ext. 5

www.RealEstate-IQ.com
www.EZMortgageLoanz.com