Here’s an excellent option if you’re looking to finance additions to your home.
Today, I sat down with my good friend and a great lender, Donna Jo Bennett with Guild Mortgage. We’ve had a lot of clients asking about new home builds and financing, so she’s here to discuss an option for people looking to add value-boosting features to their homes.
When someone goes into a new construction site to buy a home and they want certain add-ons like a pool or solar panels, what options can you get them?
Donna Jo: That’s a great question! Here in Las Vegas, we get practically 300 days of sunshine a year. Solar panels are amazing because they allow you to live in a larger home with an electric bill as low as $19 a month—I can say that from personal experience. We also have an in-ground pool and an air conditioner, which can really run up your bill during the summer. Solar panels help reduce those costs, and you roll the cost of the panels and your pool into your mortgage. Both pools and solar panels can increase the value of the property.
“It’s possible to finance the addition of your home amenities with an extremely low interest rate.”
Are there any downsides to financing your pool and solar panels with your home?
Donna Jo: There aren’t. If you get the types of loans that allow you to wrap your pool/solar panels into your mortgage, you can get a bigger tax deduction because now you’d be writing off the interest on the solar panels or pool. Plus, your interest rate is usually lower if you do it this way.
If you have any questions about financing home amenities, reach out to Donna Jo at www.DonnaJoLoans.com or call (702) 401-1108. In the meantime, if you have any other questions about real estate, don’t hesitate to contact the Sold By Jenkins Team. We’d love to help you.
