Living World
Typically, you can use your home’s current value before renovations to calculate your available equity. With RenoFi Loans, you can use the after renovation value to boost your borrowing power, which can be especially helpful if you haven’t built up a lot of equity. Although thoroughly proofread and fact-checked, it’s intended for general informational purposes only. The Inflation Reduction Act of 2022, or IRA, allows homeowners to get tax credits for energy-efficient updates, like new doors, windows, insulation, heat pumps and air conditioners. The Energy Efficient Home Improvement Credit and Residential Clean Energy Credit are listed on the IRS website.

Home improvements are beneficial because they create living space for your family and add value to the property if you decide to refinance or sell it in the future. Hence, making improvements to your home is a good investment because you can recoup the amount you spent with some gains. North America is a dominant region due to its developed housing market, high homeownership rates, and culture of home improvement.
Home Improvement Market Growth
Whether you’re considering a minor upgrade or a major renovation, the prospect of breathing new life into your home is undeniably exciting. The introduction of technology to home improvement has been proven to be beneficial to homeowners as their living spaces become more secure, entertaining, and energy-efficient. China, India, and South Korea are amongst the countries with the highest ownership rates of smart technology, both large (e.g. refrigerators, washing machines) and small (e.g. coffee machines, microwaves). Do your research to determine which loan option is best for the size and scope of the renovations you have planned. From there, consider at least three lenders to find one with the most competitive terms. While each loan option will give you a way to pay for your home


