The following article gives information on how to Get More Cash Out Of Your Mortgage Refinance. Have you ever wanted to get a lot of money out of your house without actually selling it? Well here is your chance to get the most cash out of your home by simply doing a mortgage refinance. The nice thing about a mortgage refinance for getting cash out of your home is that you can easily increase your homes value with little to no work.
The one thing I recommend doing to get more cash out of your home is to increase your homes value. The way the process works is an appraiser will come and look at your house and tell the lender what they think it is valued at, so in order to get more cash out of it you want your house to be as perfect as you can get it. This means some simple upgrades, and here are 4 simple ways to increase your homes value without spending a fortune to do it.
Steam clean and re-grout tile
This strategy only works if you have tile obviously but the difference that it will make is huge. Since appraisers need to see the inside of your house it is important that it is as clean as possible and most people who have tile always forget to clean their tile the right way. Just by steam cleaning tile can make them seem brand new and re-grouting your tile will look like it was just put in.
Fresh coat of paint
Adding a fresh coat of paint to either the inside or the outside of your house will greatly increase the value. When you paint it makes the house look brand new so this is always a good idea right before the appraiser comes. One thing I recommend doing is painting the trim to make it stand out. Studies show that a fresh coat of paint with a trim color that stands out will get a higher value than one with new paint and a basic color on the trim.
It is a known fact that landscaping a property can increase the value substantially. For instance if you spend $1,000 on landscaping you should see a $4,000 return. And to clarify the question that you most likely have, “The $1,000 was spent using a professional service, so if you did the work yourself you can have an even greater increase”.
One thing that appraisers can’t believe is the amount of people who most even fix minor things such as dings in the walls, leaks, missing tiles, stains in the carpet, and just small things around the house. Fixing small things and making them look nicer isn’t a huge deal but when you have 10 or more of these it will start to affect the value of your home.
Remember that just spending a little bit of time fixing up your home can make a big difference in the amount of cash you can pull out. Every little bit counts when it comes to adding value to your home, so make sure you do what you can before it gets appraised.