Dreaming of a brand new bathroom that’s up to date with sleek new fixtures, a calming color palette, and modern design elements? Ready for a bathroom makeover that turns every morning and evening into a luxurious spa retreat? Turning that dream into a reality has never been more accessible.
Whether you’re curious about a bathroom conversion, need to finance an aging-in-place remodel to keep a loved one in their home longer, or are ready for a brand new walk-in shower or walk-in tub, we can help! Keep reading to learn more about how to afford a bathroom remodel.
Bathroom Remodel Financing Options
Home Equity Loan
A home equity loan allows homeowners to borrow a lump sum of money using their home’s equity as collateral. Interest rates are typically fixed, making it easier to budget for monthly payments.
Home Equity Line of Credit (HELOC)
Similar to a home equity loan, a HELOC allows homeowners to borrow against their home equity. However, a HELOC functions more like a credit card, where you can borrow up to a predetermined limit as needed. Interest rates vary with the market and aren’t fixed.
Personal Loans
Unsecured personal loans can be used for home improvements. These loans typically have fixed interest rates and terms, but interest rates may be higher than those for secured loans.
Credit Cards
For minor remodeling and plumbing projects, some homeowners may choose to use credit cards. However, credit cards often have higher interest rates than other financing options, so they may not be the most cost-effective choice for more significant remodels.
Cash-Out Refinancing
Homeowners can refinance their mortgage and take out a larger loan, receiving the difference in cash, which is known as cash-out refinancing. This option may result in a lower interest rate than other forms of borrowing, but it also resets the mortgage term.
Contractor Financing
At Watters Plumbing, we use GreenSky as our in-house financing option for customers. We can offer 12 months of deferred interest and no payments or 9.99% APR for 84 months through this program. This financing solution provides excellent benefits to our customers:
- Your remodeling work and financing are all done through us, meaning fewer hoops (and paperwork) stand between you and your new bathroom.
- You don’t have to borrow against your home.
- You’ll receive a fixed rate that won’t change in a volatile market.
Ready to learn more? Contact our team. We’re always happy to answer questions about financing options.
Ready to Invest in an Updated Bathroom?
A bathroom remodel is an investment, but one that boosts your home value and creates a space you actually want to spend time in.
A bathroom remodeling project with Watters Plumbing will enhance your living space and add joy, comfort, and improved safety to your daily routine.
From walk-in showers and tubs to tile, lighting, flooring, toilets, vanities, and more, our team’s craftsmanship speaks for itself. Whether you have your dream bathroom all sketched out and ready to go or want to walk through the design process with our team, we’re here for you. Schedule a bathroom remodeling consultation today!
