http://www.my-first-mortgage.com/home-loan/home-improvement-loan/ Home improvement loan catastrophes happen every day - but you can avoid them. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 When most people apply for a home improvement loan they think they have everything figured out: they know where to get the loan from they know exactly how much money they can qualify for they know what they want done But knowing that much will get you no closer to the right home improvement loan that starting from scratch. More than knowing about the loan, you need to know which improvements will help you and why. The home improvement loan that will help A good home improvement loan is one that spends your money to make you money. Easier said than done - most people taking out home improvement loans today end up spending the money on unnecessary items or improvements that do little to improve the value of a home - or hurt the homes value altogether. Just put yourself in the shoes of a prospective home buyer, even if you are not considering selling your home just yet: imagine what people are looking for when they consider buying a home - solid foundation, nice neighborhood, an appearance of upkeep and continual care. so use your home improvement loan to improve those aspects - replace flooring or home appliances, refurbish the exterior of your home through landscaping or painting, and make sure you replace any unsightly weaknesses before building upon your home. A great many people take out a home improvement loan simply to build upon their existing home. Not smart - a buyer will see the difference and will know right away that the majority of your house fell under neglect while the new segment was simply put there with money. Your home's value and appreciation is as much a reflection of financial trends as your personal influence on the home. Improvements to avoid Don't take risks with your home improvement loan, don't take any chances. In the late 1980's cactus became an extremely popular landscaping tool all cross the country, and an expensive tool at that. By the time someone took out a home improvement loan and put in that cacti the trend was gone - and the possibility of equity gains from that California home loan gone in a flash. Soon after their plant died in the cold weather and their investment withered down to nothing. Consider the use of your home loan carefully, and remember that its better to wait and think twice than to sink yourself into home improvements that will mean nothing for the value of your home. Sat, 26 Jul 2008 15:00:00 EDT