Building and Remodeling Is Fun So Stop By And Ask For Loan Pre-Approval

Filed under: SIR Federal Credit Union |
Remodeling or Building can be fun with SIRFCU

Remodeling or Building can be fun with SIRFCU

Marquette  –  March 1, 2013  –  The U.P. Builders Show is a week away. It’s fun to travel through NMU’s Superior Dome and see all that’s new.

We see and talk to so many SIRFCU members that are home owners and camp owners around the Central U.P.  This spring it seems like many are ready to remodel or add a deck or garage this year.  But money is tight for many.  A good plan always helps a project go better.  CEO Ron Lauren was reflecting on some of the things that come up during a remodel and has some good advise on what to look for.

It all begins with a dream. Big logs!  Cathedral ceilings! Large windows! Roomy closets! A new garage to keep the snow and ice off the wind shields! One week from tonight, the big builders show happens. I want to encourage you to take some time this week and plan before you remodel.  Consider these helpful ideas.

1. Ask Others
The best way to avoid design mistakes and become inspired is to hear about the experiences of other home and camp owners. Talk to some friends or family members first and ask for feedback on your design.

2.Plan the Space
Before adding or expanding a room, think about how the space will be used and how the changes will affect where you and the family walks.  How will the new construction affect the overall view of your home or camp?  Too big or too small  matters.  A too large addition may overwhelm your house or crowd a smaller lot.   So map it out first. With all those phone apps and open source computer design software, taking a little time with home or camp design software can help you see it first.

SIRFCU will help you with Pre - approval. Stop and let's talk!

SIRFCU will help you with Pre – approval. Stop and let’s talk!

3. Choose your helpers
Can you take on the entire remodeling project by yourself? Who do you hire?  The builders show is a good place to meet some new folks and see what they are building,  Are they qualified, licensed, and insured?  Do You Need an Architect?  Will a contractor do? Can you do it?  Do you have the plan?

4. Think to the future
Although you may dream of having a spacious new addition, A high end bathroom or kitchen could price your house beyond the values in your neighborhood.  If you live in a neighborhood with brick homes, adding vinyl siding on a  Queen Anne Victorian type home, will actually decrease the value of your home. Also in the design is there enough storage?  Did you add some energy savings into the plan?  Remember, a big project may not make sense if you plan to sell your house in a few years.

5. Negotiate a solid Contract
Whether you plan a simple carpentry job or a major project requiring the services of an architect and a general contractor, Do not begin remodeling without a written contract. How long will it take? Who will do what? How much?  What types of materials will and will not be used?  Most details should be in writing and signed by each party in your Home Improvement Contract.

6. Get Permission
We recommend you ask first. Most of the time, a legal permit is required before you make structural changes to your home. A Marquette County building permit helps the project meet codes and safety regulations.

7. Count Your Money
Even the best-laid budgets can go off. Usually it costs more. Before you set your heart on high-end ceramic tile or hard wood flooring, find out how much you have to spend and plan to have a cushion against cost overruns. For must-have items that could wipe out your savings account, explore home improvement loans and other financing options. SIRFCU is here to help. We will talk to you about our experiences.  SIRFCU will work on per-approval for you before the show, or before meeting with contractors so you have an idea what is possible.

CEO Ron Lauren sharing with students in Gwinn about good Financial Planning For a Better Future.

CEO Ron Lauren sharing with students in Gwinn about good Financial Planning For a Better Future.

Finally, SIRFCU reminds you to Plan for Problems. We know building is fun and rewarding, but can be stressful. Some folks end up scheduling a day at a spa, a night out at the casino or basketball game, or discounted  getaway to a  Comfort Suites Jacuzzi room.

Let’s start right and SIR can help!   Stop by our office in Gwinn, Marquette or Negaunee and let us help take the stress away by planning and obtaining loan preapproval.

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