Refinance house mortgage. That short little sentence makes many people get butterflies in their tummy and start sweating like horses every time they hear it. But it isn’t a bad sentence, and you should learn to embrace it for certain situations, after all, the home is usually the biggest piece of wealth an American citizen owns, and knowing who best and when and when not to use it can be the difference between financial genius and financial suicide.
Home Improvements Before You Refinance a House Mortgage
Say it with me, refinance, house, mortgage. There, now you feel better, right? Okay, well if that doesn’t give you warm fuzzy feelings, maybe some advice will. Get some paint first off, and make the house look really nice inside and out. Nothing expensive, do it yourself, and just give it a fresh clean look. Dark colors on a house will make it look small, and the bank isn’t a fan of anything making a house look less valuable. Small is less valuable, so pick something appealing, think home owners association. Then look at replacing anything that is twenty years old, like your flooring. If the antique hardwood is in spectacular shape, great! If the 1972 olive green shag carpet is like brand new, replace it anyway because the bank is going to look at this house like they want to buy it, and it is unlikely if you default on the loan that Gerry Garcia is going to purchase it. So get some new Pergo or whatever you find on sale to make it look nice.
Most people can do their own Pergo; most people should not lay their own carpet. You should avoid replacing your kitchen cabinets if you can, but if you need a nice fresh look have a new counter top put in. A beautiful new countertop will make your whole kitchen look brand new, without you actually remodeling the kitchen for ten grand. Your bank will also want a new roof if you refinance your house mortgage, and if you want it to look better than it actually is(without having to re roof it) make sure you get some moss killer up there. When the moss dies, broom it off the roof.
Don’t try to peel it up with a rake or anything, or you will peel up your roof. Don’t think this will get you out of a roof if it has soft spots, but it can make a roof that has been under some huge trees in the dark look worlds better if there isn’t a multitude of sins underneath said moss. Some weed and feed will perk up your lawn if you have time to wait, and consider taking everything that makes the house look cluttered out and putting it in storage for a short time.
In short, pretend you are selling the house, because in a way you are. When you refinance a house mortgage, you are selling it to the bank.