The remodeling of a home can increase the surplus value, by up to 20% if the intervention is done in key areas, and for this it can be requested with a mortgage loan and thus not use the savings in the remodeling work.

What most impacts the added value of a property is the remodeling of the façade and the wet areas: kitchen and bathrooms; and depending on the depth of the remodeling in these areas, the value of the house can rise up to 20%, according to the Mexican Association of Specialists in Remodeling and Improvements.

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Mortgage loans for remodeling work in the same way as a loan for the purchase of a house or apartment or for self-construction in terms of terms, interest rates and commissions.

“The bank can lend you up to 50% of the value of the property to remodel it. You leave your house or apartment as a guarantee to the banking institution, but after the renovation your property will be worth much more”, explains Fernando Soto-Hay, on the Tu Hipoteca Fácil blog.

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In general, it is suggested not to invest more than half of the value of the house in the remodeling.

It is also not recommended to invest too much money in very luxurious or extremely personalized finishes, since they will absorb a lot of capital and if one day the property is sold, the market will not want to pay for those finishes and the money invested is lost.

In Solili you can consult available apartments in Narvarte, Doctores y Obrera

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