Looking for the perfect home isn’t easy—and with the recent decline in available real estate inventory, your dreams of homeownership may take longer to achieve.

With homes flying off the market and sellers entertaining bidding wars, it may be time for you to consider other options—especially if you haven’t had much luck.

It could be time to adjust your search. Maybe you’ve been looking for a move-in ready home? So is everyone else. By lowering your expectations, you could find a home that’s in the perfect location, but in need of a little work. Instead of overlooking it, use your imagination—with a little renovation, you could turn that house into exactly what you want it to be.  Using a renovation loan can buy a home and remodel the kitchen and update the bathrooms all at once!

Consider why you want to move. Is it because you’ve outgrown your home? When that happens, most people will pack up their belongings and move into a much bigger place. But if you love the home you live in now, you don’t necessarily have to leave.  Check to see if your property allows for an addition. You can build on what you have now, or update what you need through a renovation loan to help adjust your current home to fit your needs.

If you’re considering some renovation on your home and would like more information on your financing options, please don’t hesitate to reach out to one of our mortgage planners.