When it comes to a home's value, put your financial goals in order.
Watch videos and learn how to add value to your home.
Step 10: Focus on FinancesDon't forget the cash! Your financial strategy can boost your home value in a big way. Don't rush into your home loan, evaluate your options. The strategy you develop for the type of loan you want depends on where you see yourself in five or 10 years.
Combine different loan features to create a loan that is comfortable for you and offers you the flexibility to do home improvements as well as invest in your future.
Don't overdo your down payment. If you spend all your money in a down payment, then you may not have enough to do the improvements you want. The rule of thumb is if you are moving into a fixer-upper, go for 10 percent down.
Consider making interest-only payments to manage your debt payment. It will give you an opportunity to save that money for retirement or a college fund.
Refinancing gives you the chance to switch up your loan and try something new, but avoid using it as a financial crutch. Are you doing it to lower your interest rate, or are you doing it because you want cash? If you are moving in a year, refinancing probably isn't a good idea since it costs between $1,900 and $2,600.
Watch this video for tips on getting your finances in order.
