The average monthly payment for a new car is $700 and for a used car is $525. (Source: third-quarter 2022 data from Experian)
The median U.S. mortgage payment in 2021 was $1,672. (Source: U.S. Census Bureau American Community Survey) NOTE: That number has gone up due to higher interest rates.
And here's the really important statistic: U.S. homeowners on average have about $270,000 in equity in their home. (Source: CoreLogic March 2023)
If you are planning on staying in your current home for awhile, maybe you are thinking about some updating. You are almost certainly locked in at a great interest rate. So why move? Update your current home to suit your current lifestyle and aesthetics.
But how will I pay for it, you may be thinking. Consider a home equity loan. Let’s learn more. (Source: Amy Tyson, Fairway Independent Mortgage Corporation, Loan Officer NMLS#217365)
The most common option is an equity line of credit (HELOC). This is a stand-alone second mortgage product keeping your current first mortgage intact. You can borrow up to 85% of the appraised value.
Another option is a cash out refinance. This allows you to take advantage of the equity that you have built over time and gives you cash in exchange. You don’t have to rely on credit card, a personal loan, or a second mortgage. You can borrow up to 80% of the appraised value.
For really large projects, you might want to consider a renovation loan. There are different options depending on the loan amount and if the house structure will be altered. In some instances, you can borrow up to 97% of the new appraised value of the home.
Interested? The first step is to talk to a lender or two and compare the overall cost for each loan to find the one that makes the most financial sense for you given today’s rates.
And while no one has a crystal ball, experts agree that rates will be lower as we move through 2023. Amy Tyson
Loan Officer, NMLS #217365
675 Ponce de Leon AVE NE, Suite 8500, Atlanta, GA 30308
One of the very first steps in shopping for new flooring is deciding what TYPE of product you should be considering. Not the style or the color. Not the texture or finish. Not even what price range. The very basic starting point----do you want soft carpet for your family room? Or super durable porcelain tile? Or shiny elegant hardwood floors?
Sometimes knowing the price of different flooring options makes the choice easier. And there is certainly a wide range of prices based on the type of floor you select. As an example, let's assume you have a 400 square feet family room that is currently carpeted, and that you are on a wooden subfloor (i.e., over a basement or crawl space.) If you were to choose a medium-priced product, the average professionally installed cost for each type of flooring is approximately:
Carpet $2000Laminate $3200
Luxury Vinyl Plank $3400
Hardwoods 3/4" $4000
The type of flooring makes a difference on your budget, doesn't it? Of course, there are many other things to consider, for instance, the average person replaces their carpet every nine years. So, if you are in your home for twenty years, you will replace your carpet at least once, maybe twice. But you will almost certainly have the same wood floor for twenty years. Over time, the higher priced options tend to pay for themselves because of the longevity of the product. However, this doesn't necessarily make you feel better when you write the initial check to pay for it!
If you want a wood or wood-look floor, or are refinishing your existing hardwoods, consider mid-time browns like Early American and Special Walnut. These timeless, traditional colors never go out of style. Medium browns aren’t going to be the trendiest color on the color wheel, but are classic and enduring. You’ll find mid-toned brown floors installed in homes from the early 1900s, all the way through modern new builds.
Wonderful World of Window Treatments
From the moment you contact us, you'll see why shopping local just makes sense when it comes to buying custom-made window fashions and other interior design solutions: Personal attention, convenient showroom, in-home visits, professional installations, high-quality products that reflect the needs and tastes of the local community. Also, spending locally ensures that sales taxes are reinvested right here in our community!
What do Window Shades Cost?
On average, what will your shades cost per window, including shade and installation? See below: Based on 3 windows 48" x 60" including installation.
Wood Blinds $1,557.00
Roller Shades $1,539.00
Duette~ Honeycomb shades $2,157.00
Vignette~ Roman Shades $2,946.00
Silhouette - Shades $3,105.00
Wood Shutters- White $2,835.00
For heavily customized window treatments, the cost to install blinds, shades or draperies may be higher. Rooms with very high or wide windows may also cost more than average.