Financial FAQ’s

Here are some frequently asked questions about financing your options and upgrades:

1. Can I afford to personalize my home?

   Yes - it’s more affordable than you think. Since most Olson Lifestyle options and upgrades can be included in your mortgage, you can spread your payments over the life of your loan. Depending on how long you own your home, you’ll likely only pay for a fraction of the total cost of your options and upgrades selections.

2. How much will personalizing my home increase my
   monthly mortgage payment?

   Only by a fraction. Each $1,000 in upgrades adds only a small amount to your monthly payments. Speak to your Lifestyle Designer for more details, and visit our Online Design Studio website to calculate your specific monthly costs. Additionally, since the interest payments on your mortgage are tax deductible, when you add options and upgrades to your mortgage, you get this same benefit as well.

3. How much will personalizing my home increase my
   property taxes?

   Hardly at all. Just as options and upgrades add to your enjoyment of the home, they also increase its value and therefore your property tax assessments. However, since income tax rates are higher than property tax rates, the mortgage deduction benefits mentioned above may outweigh your property tax increases. This can save you money in the long run. In addition, your property taxes may be tax-deductible. Speak to your tax professional for more information.

4. Isn’t it less expensive to wait and do it myself?

   Probably not. While there’s a chance that you could find a better price on a particular product, you’ll miss out on the financial benefits described above. And since including options and upgrades in your mortgage only requires a fraction of the total price upfront, you’ll have more money available to use for other new home expenses.

   Also, whereas many outside retailers and contractors require additional costs and fees, Olson Lifestyle upgrades are all-inclusive. Plus, when you personalize your home with Olson Lifestyle, you not only avoid the hassles and mess of post-move-in construction, you often enjoy the same warranty that covers your home. This is an important contrast to modifications made after the close of your home, which may void manufacturers’ and homeowner’s warranties.