Winter Home Renovations: Here’s How to Get More Cash for Your Projects

Oct 24, 2022 | Blog, Mortgage


Are you thinking about renovating your home this winter? Fifty-five percent of homeowners spend the winter doing home remodels and winter home renovations.

With the higher costs associated with buying a new home today, renovations make sense regardless of whether you plan to keep your home or sell it.

Renovating your existing home transforms it into the home you envision. Here are a few things to start with as you plan your projects.

Winter Home Renovations: Pros and Cons

Winter home renovations come with pros and cons. Let’s go over each.


• Winter is generally slower for contractors.
• You may be able to negotiate a better rate for project costs.
• Some tax benefits may be available if you later plan to sell.
• Painting or working on the roof are winter opportunities.


• Some projects aren’t a good fit, like landscaping.
• Materials and labor costs are often more expensive.

Stay or Sell: Renovations That Make Sense

Some renovations make sense regardless of whether you plan to keep or sell your home. For example, winter is a great time to update your home’s insulation; this will help keep your energy bills down and make your home more comfortable. To further maximize energy efficiency, consider replacing your windows. New windows can improve your home’s energy efficiency while reducing drafts.

Renovating your kitchen or bathroom is always a good idea. These are two of the most critical rooms in your home, and updating them can add tremendous value.

If you plan to sell your home, some renovations can help you maximize the salability of your home. For example, updating your home’s siding or painting the exterior can give your home a fresh look to appeal to buyers.

Plan Your Winter Home Renovation Budget

Once you’ve decided on the scope of your winter home renovation project, it’s time to start planning.
First, develop a budget to help you track your costs. Include the cost of materials, labor, and any other associated costs like permits.
Knowing what you plan to renovate and having a rough estimate of the cost will help you determine what funds you’ll need to start.

Best Ways to Access Renovations Funds

Your home equity is an excellent resource for funding your winter home renovation project. You’ll access your home’s equity, and cash for your renovation with a cash-out refinance. Use our online calculator to understand better what you might expect with a cash-out refinance.

You borrow a fixed amount of money with a home equity loan; it’ll also give you a set repayment term. Additionally, home equity loans may offer lower interest rates than other loans, making them an affordable option for funding your renovations.

Another option is the 203K Renovation loan. EPM is the nation’s 5th largest 203K lender. With a 203K loan, you can finance home improvements into a single FHA loan available for purchase or refinance transactions. It also allows loan amounts based off 110% of the value.

The Final Word

When it comes to winter home renovations, there are several ways to get more cash for your projects. Whether you refinance your mortgage, take a home equity loan, or get a personal loan, you can easily access the funds you need to make your renovation dreams a reality. So don’t wait any longer – start planning your winter renovation projects today!

For additional tips, topics, and articles, visit the EPM blog here.

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