Home additions are big projects that cost tens of thousands of dollars, depending on the scope. No matter the size, you need to finance the project. Here are some popular ways to finance your home addition.
Before you figure out how you will finance your home addition, you need a general understanding of how much your project will cost. Many popular additions have an approximate price range to help you understand how to finance them. For example, a small project, like enclosing a porch, will cost only a few thousand dollars. A big project, like an in-law suite, could cost around $90,000 to $120,000. Check out our guide to see how much your project may cost.
If you plan ahead with something like a 5- or 10-year plan for your home, you can start setting aside some cash every month towards a home addition. This method will be the cheapest in the long run, as you won’t have to worry about interest. The downside to saving cash is that it takes time. Depending on the scale of your project and how much you can afford to set aside every month, you could have to wait decades before your project can even begin.
Check with your contractor to see if they have a financing partnership with a financial institution. These special financing options have competitive rates when compared to independent financiers because of the partnership with the contractor. Often, you’ll receive a revolving line of credit that you could use for multiple projects or to cover hidden costs that arise during construction.
If you’ve lived in your home for several years, you likely own a significant amount of equity in your home. You are able to leverage this equity to secure a Home Equity Loan (HEL) or Home Equity Line of Credit (HELOC). Both options are essentially second mortgages, but are used in different ways. The benefit is that these have lower interest rates than a personal loan or credit card. The downside is that you need to own enough equity in your home to receive the funds.
HEL is a lump sum of money you’ll receive immediately to pay for your addition. Since you receive the money immediately, you’ll start making payments on the loan immediately, too. These payments will be on the principal and interest.
HELOC is a revolving line of credit, similar to a credit card, that you can draw money out of up to a maximum amount. They are more flexible than a HEL because you’ll only draw out what you need when you need it. You’ll have a draw period for when you can use this line of credit. During this time you only need to pay interest, and principal payments are optional. At the conclusion of your draw period, you’ll be required to make payments on interest and principal.
A different option to leverage your home equity is by refinancing your home. You’ll be “cashing out” by replacing your current mortgage with a new one at a higher amount than what you currently owe. The difference between your new mortgage amount and the amount owed on the old mortgage will be cash in your hand to use on your addition. A cash-out refinance is more convenient than HEL or HELOC because you’ll only be making one payment a month, but you should only consider this option if you can secure a new mortgage at an equal or lower interest rate than your current mortgage.
If you don’t have enough equity in your home to justify one of the options above, you can still apply for a personal loan or a personal line of credit. The financial institution will take into consideration your income and credit history to determine how much to loan to you. Just like with a HEL and HELOC, a loan is a lump sum while a line of credit functions similar to a credit card. Be wary, however, when using a personal loan or line of credit. These often have the worst interest rates and you’ll likely be better off using the promotional rates of your contractor’s partnership with a financier.
If you’ve already talked to us about your home addition project and need financing before we get started, check out our financing page. We partner with Wells Fargo Home Projects for special financing options for E&E Contracting customers only! If you’re not that far along in the process and still need to talk to a representative, contact E&E Contracting online today!
Asphalt shingles have been one of the most popular roofing materials in the US for decades, and we love using them to give our customers’ homes a durable and stylish refresh. Despite asphalt shingles being a popular roof choice, we find that many of our customers aren’t familiar with the material and come to us with a lot of questions. Today we are going to do a deep dive on asphalt shingles so you can decide if they are the right material for your upcoming roofing project.
Asphalt shingles were originally developed in the early 1900s as an alternative to cedar shingles. At this time asphalt shingles were similar to asphalt roll roofing, where a felt or cloth roll was coated in asphalt. Soon, manufacturers began to add slate granules for texture and durability. As the years went by and roofing technology continued to advance, there are now lots of asphalt shingle options to suit your needs. Below we have outlined the most popular styles of asphalt shingles available today.
Three tab shingles are made from a fiberglass material and coated with asphalt. These materials are put onto a roll, and cut into 3 equal tabs that offer a clean and uniform finish. These are the most affordable asphalt shingle option, but they can be less durable than some of our other favorite options.
Architectural shingles were developed after three-tab shingles, and expanded on the design to increase durability and style. Architectural shingles are made with multiple layers of asphalt coated fiberglass that are laminated together, and cut together differently for a more stylistic finish. They are an incredibly durable option, and often come with some great warranty options.
Designer shingles don’t differ from architectural shingles in their construction, but offer unique color and style options to make your home pop. Many designer shingles will resemble cedar or slate shingles, which is a great option for homeowners who love the style of these older roofing materials, but want the durability of asphalt shingles.
There are lots of shingle brands out there, and at E&E Contracting we choose to work with GAF Shingles. GAF has been innovating the asphalt shingle industry for over 100 years, and in our experience their asphalt shingles provide homeowners with the best durability and style in the industry. GAF’s innovation doesn’t just stop at the shingle; they also manufacture top class leak barriers, roof deck protection, and ventilation and attic vents. We love using all of these products to create a roof that is built to brave whatever nature has in store for your home.
This is the most common question we get about asphalt shingles, but there is no set expiration date for asphalt shingles. Home location, climate, exposure to weather and sun, and other factors can cause variations in the durability of the material. That being said, most asphalt shingle brands come with a warranty that guarantees their product for a certain number of years.
GAF’s warranty is one of the best in the industry, offering a limited lifetime warranty on their shingles. They also have a variety of other warranties associated with their shingles, including algae, a 130 mph wind warranty, and warranties that cover their leak barriers and other products.
If you are unsure if your roof needs new shingles, we recommend a roofing inspection, and you can also check out some signs that you may need a new roof.
We’ve talked a lot about the durability of asphalt shingles, but how much do they cost? Surprisingly, asphalt shingles are one of the most affordable roofing material options out there. According to Home Guide, homeowners can expect to pay between $80-$250 per square foot on their next roofing project.
This price can be affected by the shingle brand and style you choose, the contractor, and the size/intricacy of your roof.
Are you ready to take on an asphalt shingle roofing project? The team at E&E Contracting would love to speak with you, contact us today for a complimentary quote!
Synthetic slate roofing, also known as composite roofing, has grown in popularity over the last 25+ years despite its existence in the United States since the early 1900s. Today, this roofing material is loved for its high durability, stylish appearance, easy maintenance, and money-saving features.
The success of synthetic roofing depends on the materials used and the way it’s designed. When compared to other synthetic slate roofing brands, DaVinci’s synthetic slate wins by a landslide. Keep reading to see all the reasons we recommend this US-based brand.
DaVinci synthetic slate tiles are made from engineered polymer and virgin resin. These materials create roof tiles that are fire-retardent, heat-resistant, and protected against UV exposure. Unlike natural slate tiles, synthetic slate tiles aren’t susceptible to rotting, chipping, cracking, breaking, or damage from wildlife and insects. These synthetic tiles are also protected against fungi, mold, and algae.
A common issue with natural slate is how heavy it is. Natural slate is so heavy that it frequently requires additional roof support during installation. DaVinci synthetic slate tiles solve this problem by being lightweight and easy to install. Because of its lightweight properties, synthetic slate roofing can be used for almost any type of house. Best of all, synthetic slate roofs are low-maintenance while being considerably cheaper and longer lasting than natural slate roofing.
Part of the aesthetic appeal of synthetic slate roofing is how realistic it looks. DaVinci’s synthetic slate tiles mimic the style of natural slate roofs with chisel marks and grooves. To do this, DaVinci creates molds from natural slate. These molds then produce tiles that are non-repeating and look like genuine slate. While DaVinci’s synthetic slate tiles are not made with recycled materials, the tiles themselves are 100% recyclable.
Additionally, DaVinci offers “Cool Roof Colors” that don’t absorb heat. By choosing roof colors that reflect sunlight, your home will stay cooler and your electric bill will be lower. When creating roof tiles, DaVinci ensures colors reach the whole way through and aren’t just surface coats.
Synthetic slate roofing works well in all climates and locations because of its heavy-duty durability and lifetime limited warranty that keep homeowners protected. DaVinci synthetic slate roofs are especially popular for commercial and residential buildings in locations that frequently get major storms and extreme weather. These roofs hold up against strong winds, heavy rain, snow, hail, salty air, and sea spray so homeowners don’t have to frequently repair or replace their roofs.
DaVinci synthetic slate roofing is excellent for homes in areas with heavy and frequent snowfall. Homeowners don’t have to worry about snow sitting on their roofs as synthetic slate allows snow to slide right off. So not only are these roofs strong enough to endure ice and snow storms, they prevent snow from laying and gathering on top of houses. However, if snow sliding off your roof is something that concerns you, snow guards can easily be installed for additional safety.
DaVinci synthetic slate roofs are durable enough to endure decades of rough weather conditions without the roof materials wearing down. These tiles are waterproof and don’t absorb moisture, which ensures homeowners won’t experience any issues with warped or expanded tiles when temperatures shift. In addition to these other protective features, DaVinci’s synthetic tiles have a special rib structure that prevents them from curling no matter what weather conditions they’re exposed to.
DaVinci is the top brand in synthetic roofing and has passed tests on material durability for Miami-Dade County, the Texas Department of Insurance, and High-Velocity Hurricane Zones. This brand’s synthetic slate tiles specifically have gotten the best ratings for both impact and fire resistance.
Synthetic slate created by DaVinci has an impact 4 rating, the highest rating for roof durability. This test is done by dropping steel balls on the roofing material to see how well it will withstand hail and impact. Because Impact 4 roofing protects the home against damage and repairs, homeowners with this type of roofing see their home insurance rates lowered and their home value raised. Even in negative temperatures, DaVinci slate tiles don’t crack or break when hit.
These tiles are protected against wildfires and are created with materials that lower the risk of fire spreading. Just like impact damage, DaVinci synthetic slate roofing has the highest rating for fire resistance, a Class A rating. To get this rating, roofs must pass 3 different types of fire activity tests.
First, tiles are subjected to 2 minutes of bursting flames with 2 minutes of rest in between each session. This is done 15 times and in order to pass this test, the roof must come out still functional with the roof deck unharmed.
The next test exposes roof tiles to wind and fire for 10 minutes straight. Again, if there is any sign of the roof being unable to function after this test, it doesn’t pass.
Lastly, the roof tiles are put to the test against a burning brand and wind. The fiery brand is set on the roof tiles for 90 consecutive minutes with air blowing on it. The roof tiles pass this last test if the brand is unable to burn through the roof. To put it simply, Class A fire-resistant roof tiles must resist surface fire-spreading, withstand intermittent blasts of fire, and prevent fire from burning through the roof decking below.
Historical homes have many requirements for new roofing and renovations. Over the years, DaVinci synthetic slate tiles have been frequently approved and used to replace roofs on historic buildings. These tiles are perfect for preserving a historic home’s appearance and functionality as they are lightweight and match in style and color.
Replacing a roof on an old building can come with many problems, including the building not being able to withstand the weight of a new roof. DaVinci synthetic slate roofing is easy to install and light enough to avoid any issues with the building below. Additionally, DaVinci can create custom colors to complement or replicate a building’s unique colors. This is especially beneficial to historic and old buildings where matching colors and maintaining a vintage style can be challenging.
At E&E Contracting, we’ve done many projects featuring DaVinci synthetic slate roofing and highly recommend these beautiful, stylish roofs that last decades. These strong roof tiles are worth the investment and are highly praised by homeowners across the US. Get started on your own project by speaking with one of our roofing specialists and requesting a free estimate.
Engineered stone is a very popular option for people looking for a low-maintenance and natural look for their homes. Stone Veneer is a beautiful alternative to natural stone siding and is manufactured in a way that is easy to install with minimal maintenance. As we discuss engineered stone veneer with our customers we get a lot of questions about the manufacturing process and how it handles the elements.
We choose to use Provia Engineered Stone Veneer which has a tremendous reputation in the industry for durable and beautiful stone veneer. Let’s take a look at how they rigorously design and craft their engineered stone veneer.
The first step in Provia’s manufacturing process is finding stones in nature. All of Provia’s engineered stones are based on the real thing, and their team is constantly searching for new stones to bring back to their manufacturing facility.
The second step in the process is making casts of natural stones, which Provia uses to make molds for all of their engineered stone. Using natural stones to mold their engineered stone gives Provia’s products shadow and detail that isn’t possible with typical stone veneer manufacturing.
Provia molds are also different because each engineered stone is molded and crafted by a stone mason to create a realistic, handcrafted master mold.
To finish their stones, Provia uses high-quality aggregates, Portland cement, and oxides to create the most realistic character and feel of natural stone. Most stone manufacturers use cheap fillers like sand to emulate the feel of stone but Provia goes above and beyond, using only the best quality aggregates and oxides.
Another huge benefit of Provia’s manufacturing process is that the back of each stone is perfectly flat, allowing for quick and easy installation. This cuts down on cost and allows for a nice, even finish.
The color of the engineered stone plays an important role in the authenticity of the veneer and the appearance of your home. Provia’s stone veneer colors come in two options that are all inspired by natural stones, including shale, glacier, timber, copper, and more. Their Enhanced Colors include multiple stages of layering on their handcrafted veneers, ensuring that each stone perfectly resembles stones found in nature. Their Premium Enhanced Colors take this process a step further for even deeper colors in each stone, offering unparalleled vibrance and style.
Once you have chosen your stone color and style, it’s time to choose your grout color. Your grout color heavily influences the look of your home; complementary grout colors will soften the contrast of your home while contrasting grout colors will give the stone more pop and create a more dramatic siding.
Are you ready to talk about adding engineered stone to your home? Contact us today for a complimentary estimate, our experienced team would love to speak with you.
Countertops are a big aspect of making your kitchen match your style and desired utility. Your counters alone can completely change the way your kitchen looks, feels, and functions. Over the years, design and technology have evolved to create high-quality countertop options for various budgets, styles, durability needs, and household lifestyles. With old trends returning and new trends beginning, there are always excellent materials and designs to choose from that are worth the investment!
Upfront Costs: $-$$
Laminate countertops are known for being more affordable than other countertop materials. While these countertops can be difficult to repair, they’re durable and function well in high-traffic kitchens. With little maintenance required, including being easy to clean, laminate countertops are adaptable and hold up against kids, frequent baking, and daily cooking.
These counters are nonporous so you don’t have to worry about resealing them as they don’t absorb water or harbor bacteria, mold, and stains. However, laminate countertops are easily damaged by heat so you should never place a hot pan on them. Once damage has been done to laminate counters, they’re near impossible to repair.
If increasing your home value is a priority when renovating your kitchen, you’ll want to avoid laminate countertops. Because this material is more budget-friendly it doesn’t add much to your home’s value and has visible seams. However, don’t let that stop you from considering laminate counters as they still have a lot to offer!
These countertops are great for people who want a particular style or color as there are many options to choose from. Today, these countertops come in many different patterns, colors, and designs. From natural stone to rustic wood, laminate countertops have evolved to look more aesthetically pleasing and unique for a fraction of the price. Best of all, laminate counters are easy to clean and don’t need routine maintenance. If your top countertop priorities are affordability, different options, and little to no maintenance, laminate countertops are a great choice.
Upfront Costs: $-$$
Ceramic tile countertops have been around for decades and can give kitchens their own vibrant, distinct, and personalized looks. While ceramic tile is one of the cheaper countertop materials, some tiles are more expensive than others. This countertop material has countless options for colors, patterns, and designs that fit any budget.
Unfortunately, tile countertops can be difficult and time-consuming to clean. The grout on tile counters stains very easily and needs to be cleaned often to reduce this. However, one solution to avoid stained grout is to choose a grout that is darker in color. With darker grout, stains won’t be as noticeable.
Another downside to ceramic tile counters is their uneven surfaces. Because these counters have grooves and dips, baking and cooking on tile countertops can be frustrating. Furthermore, ceramic tile countertops are less durable than other materials and can easily crack. That being said, ceramic tiles give you the ability to completely personalize your kitchen space with tiles in all colors and styles.
If you love the look of ceramic tiles in your kitchen but don’t want the frequent cleaning and upkeep that comes with these counters, consider using ceramic tile as your backsplash. With a ceramic tile backsplash, you can still achieve that look minus the extra work.
Upfront Costs: $-$$
Butcher block countertops are a great choice for homeowners going for a rustic but contemporary look. These counters are created by gluing small planks of wood together so each countertop is unique. Butcher block countertops are generally more affordable than stone countertops, but it really depends on the countertops’ type of wood, wood grain, thickness, and design. Some popular wood species used for these counters include teak, maple, ash, cherry, oak, acacia, birch, and bamboo.
If you like butcher block countertops but want to lower your carbon footprint, bamboo is the most environmentally friendly option. In addition to being better for the environment, bamboo is one of the more affordable wood species. Although it may be tempting, these countertops shouldn’t be used as a cutting board. Cutting food directly on your butcher block counters can change the evenness and feel of the countertop’s surface.
Homeowners interested in butcher block countertops should be aware this material takes a lot of work and needs to be resealed every 6 months or twice a year to reduce the risk of staining and warping. The first year you have your butcher block counters, you need to follow an extensive sealing process to ensure your butcher block is fully protected. This sealing schedule starts with applying a coat once a day for a week. After the first week, you’ll apply a coat once a week for the timespan of a month. Once the first month ends, you’ll move on to applying a coat once a month for a year.
Resealing your butcher block countertops is important to keep the wood from holding bacteria, trapping moisture, cracking, and warping. Additionally, because they’re made from wood, butcher block counters may shrink and expand during seasonal temperature changes. That being said, these counters can be easily repaired with some light sanding to remove stains and shallow scratches. All you need to keep your butcher block countertops clean is some mild soap and water or vinegar.
Upfront Costs: $$-$$$
Quartz countertops are a mix of resin and natural quartz. These counters have an appearance that’s shiny, glossy, and similar to marble countertops while costing much less. They are very durable and good for kitchens that get heavy use as they’re resistant to stains, scratches, chips, dents, and cracks. However, these counters are susceptible to heat damage so trivets are always needed when handling hot pots and pans.
Quartz counters have a lower maintenance level than many other types of countertops. While other counters need routine resealing to make sure they stay resistant to moisture, bacteria, and staining, these countertops never need to be resealed because they’re nonporous and won’t absorb moisture. You can choose to reseal your counters for extra protection, but this isn’t necessary.
These heavy-duty and low-maintenance countertops are great additions to many kitchens and household lifestyles. For homeowners who want the style of stone countertops with a lower price tag and less upkeep, quartz countertops have some excellent options
Upfront Costs: $$-$$$
Granite countertops are uniquely patterned and very durable. Because they’re beautiful and able to withstand plenty of use, granite counters are one of the most popular types of counters. Despite their popularity, these countertops cannot be done as a DIY project. Granite counters are very heavy and will need to be installed by a professional to avoid damaging your cabinets below.
Countertops made from granite need to be resealed once every 1 to 5 years to ensure protection against bacteria and prevent moisture absorption. Even though they need to be resealed every few years, granite counters are still lower maintenance than many other natural stone countertops. Granite is stain-resistant and easy to clean so it doesn’t require any special cleaning supplies, just some mild soap and water.
One easy way to see if your granite countertops need to be resealed is to pour a bit of water on your counters and let the water sit for 10 to 15 minutes. Once the time is up, wipe away the water on the counter and check for a dark spot. You don’t want your counter absorbing the water so if the counter has a dark spot where the water was sitting, it needs to be resealed.
One feature of granite countertops that attracts many homeowners is the ability to add original, unrepeatable counters to their kitchens. No homes with granite countertops are going to have the same granite pattern. Additionally, even though granite countertops are made from natural stone, there are multiple colors homeowners can choose from. If you’re looking for a countertop that is lasting, hardwearing, easy to clean, and comes in different styles, granite countertops may be for you.
Upfront Costs: $$$+
Concrete countertops are great for homeowners wanting a farmhouse or industrial-style kitchen. That being said, these countertops cost more money and need more upkeep than other countertop materials. Concrete counters are generally custom-made and need to be done by professionals as they’re heavy and, if improperly installed, can damage the cabinets below.
These countertops are scratch resistant and hold up well against high temperatures, however, they are porous and easily absorb moisture which can lead to stains and bacteria. To avoid this, you’ll need to reseal your concrete countertops every 1 to 3 years depending on your specific counters and sealant. To keep your concrete counters protected and in good condition, use non-abrasive cleaners and cloth.
Unfortunately, concrete countertops have a high likelihood of cracking over time from things like appliances tightening, readjustments, and houses settling. These countertops are likely to shrink when temperatures change which can create hairline cracks. While the likelihood of cracks and shrinking happening are lower when you go with a professional, concrete can naturally shrink on its own. Thankfully, there are various ways to repair cracks in concrete countertops such as latex caulking, silicone caulking, and epoxies.
Concrete countertops are customizable and great for homeowners wanting a unique kitchen. There are different dyes available that give concrete countertops beautiful shades to match your home and create bursts of color. These counters are precast and installed in your home so you don’t have to wait a month for them to fully set.
Upfront Costs: $$$+
Marble countertops are beautifully unique but have a high price tag. These countertops are seen as timeless and sophisticated with various colors and one-of-a-kind patterns. Despite their popularity, marble counters aren’t a good fit for frequently used kitchens as they’re high maintenance and very susceptible to stains, scratches, etches, and chips. In fact, damage to marble counters is frequently caused by common acidic foods and drinks such as lemon juice, tomato, wine, vinegar, and coffee.
Homeowners who frequently work with dough, pasta, and chocolate will enjoy the marble countertops’ naturally cool temperature which is perfect for these foods. However, despite their natural coolness, you should never place a hot pan directly on your marble countertops as this can damage them.
Although they can be easily damaged, these counters aren’t too difficult to repair and clean. That being said, you’ll need to regularly reseal marble countertops every 6 months to 1 year to keep them protected. To remove shallow scratches and water stains, you can buff out your countertop with #0000 steel wool. When you clean your marble counters, you should use 12% hydrogen peroxide, a little ammonia, and a non-abrasive cloth. With routine maintenance, marble countertops will remain durable and beautiful for years to come.
Upfront Costs: $$$+
Stainless steel countertops aren’t just for restaurants, they also look great in residential homes with their clean, industrial appearance. As evidenced by their place in restaurant kitchens, stainless steel countertops are heavy-duty and perfect for kitchens that are frequently used. While these counters are generally more expensive than other countertop materials, they are much more durable and require less upkeep.
Resistant to heat and rust, stainless steel counters don’t need resealing and, unlike other countertop materials, aren’t harmed by liquids or acidic foods. However, it’s important to clean up spills on your stainless steel counters immediately as the longer it sits, the harder it can be to clean. Overall though, these counters are very easy to clean and aren’t damaged by strong cleaners.
One downside to stainless steel countertops is the material can be very noisy. They also need to be wiped down frequently to remove water spots and fingerprints, which show up easily on stainless steel. Like other countertops, you shouldn’t cut directly on your stainless steel counters. You need to always use a cutting board to keep your countertop in good condition and free from dents and scratches.
Picking high-quality stainless steel is important when choosing countertops of this material. The higher the quality, the less likely you are to dent or scratch your stainless steel counters. If choosing a clean, durable, and environmentally friendly countertop material is important to you, these 100% recyclable counters may be a perfect fit for your home.
When choosing the countertop material that best suits your lifestyle, home, and family, keep in mind what counter features are top priorities for you. By making a list of what you find most important in your kitchen, deciding on a countertop will be much easier. To get more tips and guidance on remodeling your home interior and exterior, check out E&E Contracting’s monthly blog. Have a renovation project or home addition in mind? Get started today by receiving your free quote and speaking with a building professional.