Home additions are a great way to personalize your home to make it perfect for YOU! You can upgrade your outdated kitchen or bathroom or add a room for extra square footage. There are so many fun and exciting home additions to consider!
While renovation costs can add up, Flat Branch’s 203k Loan program is a great option for financing home upgrades. If you have interest in any type of add-on or renovation to your home, reach out to your local Flat Branch lender to learn more about this loan.
This loan can provide financing for:
- construction costs
- inspection fees
- title update fees
- contingency reserves
- permit costs
- origination fees
Common Home Additions or Renovations
The possibilities are endless when it comes to renovating or adding on to your home. Some of the most common expansions and renovations are:
- Kitchen: Many homeowners want to expand their kitchens by adding more space, especially more counter space and updating appliances, cabinets, flooring, and backsplash.
- Bathrooms: Some homeowners may want larger bathrooms or extra bathrooms for growing families. Updating toilets, flooring, bathtubs and showers, as well as making bathrooms more accessible are common renovations.
- Bedrooms: some homeowners may want to purchase a new home, but it can be an exciting alternative to add on a bedroom if extra space is needed but you are otherwise happy with your home.
Exciting Home Additions
While there are many necessary renovations and additions, there are also many fun and exciting ideas! You may be in your forever home, but you are ready to make some upgrades and take greater joy in your home. Some exciting home addition ideas include:
- Sunroom: You may have interest in adding a sunroom to one of the existing rooms of your home. Sunrooms typically have quite a few windows and are warm spaces due to the sunlight.
- Screened-in porch: You may already have a porch or deck at your house, but you want a more relaxing and weather-proof outdoor area. Screened-in porches can be built as new or upgrade an already-existing porch, but the whole area is screened in for year-round use.
- Basement completion: If you purchased your home with an unfinished basement, you can utilize a renovation loan to finish it, including adding walls, ceilings, flooring, bathrooms, and more. This can become a fun entertainment space complete with fun furniture and a movie projector.
These home improvements may be great additions to your home! If you have further questions about what a 203K loan is, or how to utilize it, reach out to your local lender for assistance.
