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Upgrades to Make to Your House Ahead of the Holidays

Read Time: 5 Minutes November 15, 2022

“Wow, I love what you’ve done with the place!” Wouldn’t that be cool to hear from friends and loved ones visiting for the holidays who haven’t seen your place in a while?

Many people enjoy entertaining special guests during the holiday season, but it might be extra festive to be able to show off your renovations in time for the visit. Even if the home improvements aren’t in time for this year, it’s also nice to have an upgrade wish list!

Family Members at Table Serving a Holiday Meal

Getting Cash Now

Renovations that provide the most bang for your buck are ones that tangibly generate returns that recoup the initial investment costs. While most home improvements add value to a home, the challenge can be having the resources to pay for them.

The good news is that timing could be good to get the cash you need ahead of the holidays.

A cash-out refinance is a type of loan that replaces your existing mortgage with a new mortgage. By doing a cash-out, homeowners can access their home equity and get immediate access to cash. By doing a cash-out, homeowners can access their home equity and get immediate access to cash.

Before we take a closer look at how you can do a cash-out simply by using the equity in your home, let’s look at a few popular upgrade ideas that can help add to the holiday cheer.

New Front Door

Replacing your front door or even repainting your current door can help create a great first impression. A bright front door can stand out, particularly with matching shutters.

Vivid green or bright red paint on the shutters and the front door can help create a timeless feel and main event when viewed by your guests from the curb. It can also add some newfound pizazz to your living room. A festive wreath on your refreshed front door will also help create an inviting holiday look and feel.

It’s a good idea to sample all your paint colors in person and then hold them up to your home since it has their unique lighting.

Kitchen Renovations

Kitchens are often the first area of renovation which makes sense because that’s where meals are created.

The cost of getting your kitchen holiday read can vary. According to’s 2021 cost vs. value report, the price can range from $26,000 – $75,000. Those on a tighter budget can do a small kitchen remodel without major upgrades for as little as $4,000.

You may also want to throw in a new kitchen table and chair set because guests seem to enjoy sitting around the table and talking about the old days. Some homeowners even have a diner booth in their kitchen for some added nostalgia. Also, having a cookie bake with your guests while enjoying some spirits of the season can be lots of fun.

More Space

Everyone’s dreamed of creating more space, though knocking down the walls in your home may seem like a big task. However, with a little work, you'll be able to expand the space in your home without having to move to a bigger house. Plus, you’ll get to enjoy the new lively openness with your guests.

Removing walls will create connected rooms and provide better ventilation. One idea to create more space is to merge the living room and kitchen into one. To complete your new “kitchenette” you’ll likely want to install a new counter between the two areas. Your guests will enjoy the ambiance of sitting at the counter and the added natural light is sure to brighten the occasion.

Dark ceilings and room furniture make a room appear much smaller than it is. Consider repainting the ceiling white and using lighter colors on walls as well as furniture to change the look and feel of a room. Speaking of the ceiling, you may want to consider mounting bookshelves high off the floor to create the illusion of even more space.

A nice accent might be having a ladder up to the shelving that’s festively decorated for the holidays. Also, a chandelier can add some glitz to the room while making it feel bigger. It might also be a convenient place to hang some mistletoe.  

By now you may be thinking that some of these ideas would be great to implement in time for the holiday revelry. With that in mind, let’s take a closer look at how to get it paid for.  

How does a cash-out refinance work?

When you take out a mortgage to buy your home, a portion of your monthly mortgage payment pays off the principal amount (the amount of money you originally borrowed without interest). With each monthly payment, you increase your home’s equity, which translates to wealth that is built up over time. Once you’ve traded in your home equity for cash, it’s your money to use any way that you want, though it’s probably smart to use it for worthwhile investments, such as home improvements. 

Here are a few facts about a cash-out:

  • There are a variety of loan types to choose from.
  • The mortgage interest may be tax-deductible.
  • You can use the cash any way that you want.

If you’ve built up enough equity in your home, it may be a good idea to consider doing a cash-out home refinance – and creating a cool and cozy holiday haven could be a fabulous way to put some of those extra bucks to use.

Newrez Home Equity Loan†† is our new loan program built specifically for homeowners looking to tap the equity in their house without giving up their current mortgage. Keep your primary mortgage interest rate on your current loan when you secure a second mortgage. 

How does a Newrez Home Equity Loan work? 

This new mortgage product has a fixed interest rate and is disbursed in a lump sum at the beginning of the loan. You’ll start repaying it immediately through fixed monthly Principal & Interest (P&I) payments. Plus, a Home Equity Loan with Newrez is secured by your house. This means you access larger sums of money at lower rates than credit cards or personal loans. 

Lenders determine how much you may borrow by considering the amount of equity in your home, your credit score, and your debt-to-income ratio. With a Newrez Home Equity Loan, we can lend up to 80% of what your home is worth. Once your fixed interest rate and monthly P&I payments are determined, you’ll receive the cash value as a lump sum at the initiation of the Home Equity Loan. 

You can use your home equity loan for just about anything. Popular uses include home improvements, college tuition, a vehicle purchase, and debt consolidation. People often turn to home equity for big milestones and life events, such as a wedding, education, moving costs, vacation, adoption, fertility treatments, or other medical expenses. Whatever your plans, home equity can provide the funds to make it happen. 

Have questions? We’re happy to answer them. Give us a call today!

DISCLOSURE: By refinancing the existing loan, the total finance charges may be higher over the life of the loan.”

Learn more in our other educational series.

We’ve assembled a treasure trove of jargon-free information to demystify home-financing and arm you with valuable insights and actionable options.

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