refinance... finish projects

[itlw8]

Years ago when we refinanced we learned unfinished projects decrease the value of the house. The bank would have to PAY someing to come finish the work Our 3/4 finished basement lowered the value of the home more than if we just ripped it all out.

So bring it back to now.. We are working hard finishing those almost finished DIY projects just in case we decide to refinance.

And helping our kids finish theirs . We are hoping to raise the value of thier house so they can refinance and get rid of the second loan.


So look around do you have a hole in the wall that has been there for years, molding you never got stained etc? Make a list and finish those projects. Then If you choose to refinance you are ready. Or If you need to sell. or just enjoy you house finish the work.

[Wendy99]

when we did our refinance, the bank never even asked / looked at our home (unless they did a straight driveby ?) ... but we never refinanced over our original mortgage amount.. so maybe that makes a difference .. you'll feel good once all those unfinished projects are complete .. good luck on the refinance