Tired of those dated ceramic-tile countertops and metal-framed medicine cabinets? Or are you trapped in the ‘80s with white laminate cabinets and linoleum flooring? Then perhaps it’s time for a remodel to turn your outdated bathroom into your very own spa.
Depending on the scope of your project, a typical bathroom remodel ranges from $20,000 to $70,000. The cost will vary based on the type of materials used as well as the labor involved. Whether you’re looking to keep expenses down, or willing to splurge on the bathroom of your dreams, establishing a budget is key.
Enter one of the most important members of your remodeling team: Your loan officer.
Derek Wong, Senior Vice President of Credit Products at First Hawaiian Bank, says homeowners often tap into their home equity for home remodels, which makes sense since these improvements will likely add value.
“Whether it’s to update an old bathroom or to create a state-of-the-art gourmet kitchen, the first step is to talk with a Personal Banker at First Hawaiian Bank,” adds Wong. “They’ll discuss your financial situation, explain the benefits of our Home Equity Line of Credit, and walk you through the entire application process.”
Because a HELOC uses the property as collateral, homeowners typically get a lower interest rate and a larger credit limit than from credit cards or other loan types. Interest rates are still low, making this a great time to get started on your bathroom transformation or other home renovation project.
“Whether it’s to update an old bathroom or to create a state-of-the-art gourmet kitchen, the first step is to talk with a Personal Banker at First Hawaiian Bank.”
-Derek Wong, FHB Senior Vice President
For more information, visit any First Hawaiian Bank branch or go to FHB.com.
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