Spaces dedicated to working, study or play are beneficial for kids and adults alike. When your space doesn’t seem quite as spacious anymore, a redesign, reorganization or remodel might be in order. The freedom to personalize your home is one of the best features of homeownership.

For instance, family rooms and great rooms become not-so-great when families start using them primarily for storage. Just because a room is designed a certain way in a layout given does not mean that you are confined to using it that way. Closets can become workspaces; garages can become rec-rooms and bedrooms can become offices. Use your imagination.

Home addition remodeling projects can be expensive, they may greatly increase the value of your home, in addition to adding living space. A home loan refinance loan can help upgrade your space, as well as creating new storage solutions.

Refinancing has several advantages. Most families can obtain a very favorable interest rate, and those with sufficient home equity may qualify for a “cash-out” loan up to a percentage of the home’s value. It is convenient for financing simple, safe spaces for anything that requires a little "social distancing" from the rest of your busy home.

This is also a great opportunity to re-design. Let the little ones give their input. Add a fun color scheme and light, warm colors, and light, movable, easy-to-clean furnishings are best for variety. Work/play stations should be easy to clean, too, and permanent furnishings like desks or tables should have rounded corners for safety.

Add some new windows to bring more natural light and sunshine. Closed windows and walls make a space feel more cramped. No matter the size of your home, it is easy to create room, storage, and brightness.

The parents will probably end up doing most of the work, but it’s a rainy-day project that can turn into a long-term plan for combatting childhood boredom.

When you ride the rental roller coaster you get a place to live, but no stake in homeownership. When you own your own home, you can put up a nail anywhere you please.

Plus, it is an effective way to build long-term wealth and invest in the American Dream.

At Bay Equity Home Loans, we help families budget for changing expenses, from new baby to full house to empty nest. From purchase loan to refinance or other home equity product, making the right choice in mortgage lender can benefit you in the long run.