Adding a 4 seasons room off the back. Currently 4.25, refi would be 3.125
23 years left. Refi would bring it down to 20 and the monthly would be $300 more total.
I already add $500 to the principal anyway each month. So end up saving 200 a month on what I normally would pay
House value has gone up tremendously since our purchase seven years ago.
Closing costs would be about $2k
Project is 65-70k
Seems almost too good to be true. Am I essentially giving up that expected future profit now on house going up in value to fund the project?
But the Project should add value to the house maybe not dollar for dollar but certainly another 45-50k
Seeking feedback
23 years left. Refi would bring it down to 20 and the monthly would be $300 more total.
I already add $500 to the principal anyway each month. So end up saving 200 a month on what I normally would pay
House value has gone up tremendously since our purchase seven years ago.
Closing costs would be about $2k
Project is 65-70k
Seems almost too good to be true. Am I essentially giving up that expected future profit now on house going up in value to fund the project?
But the Project should add value to the house maybe not dollar for dollar but certainly another 45-50k
Seeking feedback
