Tag Archives: Renovations

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Renovate Your Home Without Breaking the Budget

Are you ready to mix things up in the design of your home, but not ready to burn through your precious money to do so? We know some tips and tricks that will allow you to revamp the look of your home without going overboard on price. Keep reading to find out how!

Improve the Lighting

The lights in a room can drastically affect a room’s tone. Swapping out those harsh, flickering lights for softer, warmer lights will give your room a more comforting feel. Another lighting trick is to hang mirrors in rooms that need to be brightened up. Mirrors make a room look bigger and increase the light throughout the room.

Removable Wallpaper

Although wallpaper might’ve had a bad reputation in the past, the new, improved and modern versions of removable wallpaper make changing your space affordable and simple. The best part is that it goes on easily and comes off with no damage to the walls, allowing you to change up a room at the snap of your fingers.

New Cabinet Handles or Faucets

Updating the handles on your cabinets or the faucet of your sink can make a world of a difference. New and modern handles have the ability to completely change the look of your kitchen or bathroom, and they aren’t a big investment. Replacing your old kitchen faucet with a sleek, contemporary one can give your kitchen a whole new look.

Rearrange, Don’t Repurchase

You don’t have to buy all new furniture in order to make your living space more attractive. Search the Internet for furniture setups that fit your room, and try rearranging your furniture to match. Sometimes something as simple as changing an item’s location could improve the look of a room.

Paint the Front Door

Upgrade the outside of your home by putting some primer and a few coats of exterior paint on your front door. You could choose a bold color that would catch a passerby’s eye, like red, or go for a modern look like black. It’s also a simple fix to add a door knocker or update the handle. Research suggests that updating your front door can increase a home’s value as much as $8,000!

We hope these money-saving renovation tips will allow you to give your house an upgrade without burning through your wallet. More questions about renovation on a budget? Give us a call and we’d be happy to help.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

The Top 10 Things That Add Value to Your Home

home renovations

Just like purchasing your home, selling it is a journey all its own. Whether you’re aiming to sell your home in one year or five, you can make a number of small changes that offer a big return on your home’s value. Try these key improvements and see the effect on your next home assessment.

  1. An eye-catching entrance. As the gateway into your home, your front door will set the tone for what’s within. Update your door bell, paint the front door, and hang a spring wreath to tie it all together.
  2. Energy-efficient updates: Updating appliances, windows, and fixtures, to their more green counterparts can set your home apart with the attractive promise of future savings.
  3. Low-maintenance landscaping: While flowers are eye-catching, shrubs and drought-resistant greenery make great visual impact with the promise of less hassle.
  4. A thorough clean. A deep clean of carpets, curtains, and corners will make your home sparkle and create a positive first impression. Hiring a professional cleaning service may also help to remove hard-to-clean grime and overlooked areas.
  5. De-cluttered rooms. A tidy house doesn’t always feel open. Heavy curtains, overstuffed couches, and rooms devoid of sunlight can make buyers cautious of square footage. Rid the room of nothing but bare essentials and simplistic furniture to maximize the area of the space.
  6. Extra mirrors. To double the feel of any room, strategically place mirrors to create an illusion of extra space.
  7. Small updates to big places. Kitchens and bathrooms are focal points in the selling process. Without the time and cost of a major remodel, small updates like new lighting, fresh paint, or modern accessories can add value to your home on a budget.
  8. Revamped flooring: Thin or threadbare carpets can raise alarms for buyers as they visualize the daunting need to replace the tired flooring. As your budget allows, replace your home’s carpet beginning high-traffic areas and working outwards.
  9. Modern lighting. Updating light fixtures to a timeless and simple feel, help to elevate a home’s design and gives the potential buyer a blank canvas to imagine life in their new home.
  10. A professional opinion. In under an hour, a trained interior designer can provide suggestions for small tweaks, such as furniture arrangement or paint color adjustments, which can increase your home’s value with limited investment.

While improvements are not a guarantee of improved value, they can make all the difference when drawing in interested buyers. If some of your home-improvement projects require a bigger investment than your budget expected, our lending officers at Peoples Bank & Trust can work to help you secure the Home Equity Line of Credit you need.

 

Peoples Bank & Trust Co.

NMLS# 407724

Equal Housing Lender

Member FDIC

 

Make the Most of Your Spring Projects with a Cash-Out Refinancing!

Refinance

How do you decide if cash-out refinancing is for you? Do you like your home? Do you need more funds for repairs or renovations? Do you have a portion of your mortgage already paid off? If you can answer yes to all these questions, then refinancing your mortgage with a cash-out may be the best fit for you!

How does it work?

Refinancing is a strategic and beneficial financial tool. By utilizing the equity built into a home, owners are able to negotiate new rates of their loan, and potentially borrow additional funds. These funds are typically limited to the amount of the original mortgage, minus the current outstanding loan. The difference between these numbers is the amount home buyers may be able to use for renovations and other current financial needs.

What’s the benefit?

Once you receive the funds you are not tied to any one project. So whether you want to build a new deck, remodel a bathroom, or pay for another planned purchase, the options are endless. With a home equity loans however, borrowers are required to take on an additional monthly payment on top of their existing mortgage. Unlike a home equity line of credit, a cash-out mortgage refinancing offers a specific amount that is tied within your mortgage, typically offering a lower comparable interest rate. This lending option also allows the home owner to replace their existing mortgage with updated rates, so they have one affordable monthly payment instead of two!

Get started today!

In 2015 the average kitchen remodel cost between $11,261-$28,716, and the average bathroom remodel totaled $9,285. With spring time approaching, now is the perfect time to look at the benefits of refinancing your home! With other projects such as a new deck, pole building, or landscaping project, spring is the perfect time to start evaluating your home refinancing to see what your equity is capable of.

We’d love to help get you started, call us at (636) 528-7001 or check us out online today!

Peoples Bank & Trust Co.

NMLS# 407724

Equal Housing Lender

Member FDIC

How-To Make Your Spring Renovations with a Home Equity Line of Credit

Home Equity

Remodels can be an exciting and trying experience. If you’re looking to make some updates to your home, a Home Equity Line of Credit is the perfect way to use the equity you have already built in your house. Here at Peoples Bank & Trust we offer both Home Equity Loans and Home Equity Lines of Credit, let us show you which may work best for you!

Home Equity Loan: Using your home as your collateral you are able to borrow funds in addition to your mortgage to complete home projects or unexpected repairs. After speaking to a Peoples Bank & Trust loan officer, a loan amount will be determined along with a loan term for repayments. The funds from this loan are presented in one check to use as needed.

Home Equity Line of Credit: Also utilizing your residence as collateral this option allows you to obtain a line of credit, with an agreed upon loan amount. Accessed through the use of a checkbook, a credit line allows you to access funds as you need them instead of receiving one lump sum at the loan closing. With a designated cap there is a limit to your available funds.

Regardless of which loan type you choose, the loan amount will be determined by the current value of your home, your individual financial history and other factors.  If your home appraises for more than you anticipated, that’s great news; but remember, it is always recommended to secure a loan only for the amount you need, ensuring you don’t overextend your budget!

If you’re interested in beginning the process for your next home renovation, start the journey with Peoples Bank & Trust and our Home Equity options!

 

Peoples Bank & Trust Co.

NMLS# 407724

Equal Housing Lender

Member FDIC