You know those parts of your house that just drive you crazy? Maybe it's the laundry room that's cramped and dreary, the unfinished basement that was going to be a family room, or the backyard oasis that looks more like a concrete jungle. Well, we have quite a few of them! When it comes to design, I'm a big dreamer. I love to pick things out and plan, plan, plan. I start house projects all the time, I just very rarely finish them. So our house has a long someday list of renovations.
I have a long list of excuses for our tardiness in taking care of our home improvement projects. It goes like this:
“We are planning on starting a family”
“We are having a baby”
“We just had a baby”
“We have a child, we don't have time!”
The time has come to finally take care of loose ends and finish up our fixer upper home. But where do we get the money for all our big dreams? I started researching home equity loans and who has the most competitive rates and found that Capital One's Home Equity products always came out on top.
Whether you’re remodeling your home or consolidating debt, Capital One has simply smarter tools that help you choose the right option for your situation. Visit www.capitalone.com/home-equity to get your customized rate offer and estimated loan amount – with no impact to your credit score. You can even begin the application process, it's that simple and there are no burdensome fees.
What to work on first? Our bathroom could use a big makeover, or we could knock down a wall and open up the kitchen to the living room. But I think what we'd really love most is to make the backyard a bit more kid friendly. Put up a fence and build out a patio space so we can enjoy being outside in the warmer months.
Feel like all that bank stuff is too confusing? Me too, and turns out we're not alone. 13 percent of homeowners in Washington D.C. have not taken out a home equity loan or line of credit because the process is confusing, 10 percent indicated the rates or fees are too high and 10 percent expressed there’s too much paperwork.
That said, 76 percent of homeowners in Washington D.C. indicated they would renovate areas of their home if they had better financial means to do so, and 63 percent would consolidate all their debt if they had better financial means to do so.
The Capital One DC Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 500 homeowners in the Washington, D.C. DMA, between September 28 and October 5, 2016, using an email invitation and an online survey.
I was selected for this opportunity as a member of CLEVER and the content and opinions expressed here are all my own.