How to Turn Homes into Money-Making Machines like on HGTV Income Property; New Consumer Home Renovation Guide from GoBankingRates.com

With the new seventh-season premiere of HGTV Income Property this week, leading personal finance website, http://www.GoBankingRates.com, investigates how home renovations help homeowners increase their property value, while pulling in additional income to pay monthly mortgage payments. The new guide identifies tried and tested renovation strategies, and shares the real estate insight of Income Property’s Scott McGillivray.

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How to increase the value of your home

How to increase the value of your home

You may like red walls and think tiled bathroom countertops are retro-chic, but your prospective tenants may not -- ultimately you’re renovating to please.

El Segundo, CA (PRWEB) January 27, 2013

Home mortgage loan payments can be a burden for homeowners struggling to make their mortgage each month. To help consumers find financial balance, Go Banking Rates uncovers key home renovation tips drawn from cable show, HGTV Income Property, whose seventh season airs this week, that identify how homeowners can not only increase the property value of their home, but also pull in side income by renting a section of their home to tenants.

With season seven premiering on HGTV on Tuesday, January 29th, Go Banking Rates compiles a guide explaining how the renovations on the series have been so successful.

“When it comes to converting your home into an income-driving property, it’s important to step back and remove your personal taste from the equation,” shares Jennifer Calonia of Go Banking Rates.

Ms. Calonia continues, “You may like red walls and think tiled bathroom countertops are retro-chic, but your prospective tenants may not -- ultimately you’re renovating to please.”

Making the commitment to convert a home into an HGTV Income Property-worthy residence can be unnerving, but the guide reveals McGillivray’s perspective on the move. “Becoming a landlord is very profitable. It’s a great long-term investment and it just makes sense,” explains McGillivray, “You can make a lot more money picking up more rental properties and collecting more rent, than you can get raises at a job.”

To learn more about how to increase the property value of your home, click here.

About Go Banking Rates

GoBankingRates.com is a national website dedicated to connecting readers with the best interest rates on financial services nationwide, as well as informative personal finance content, news and tools. Go Banking Rates collects interest rate information from more than 4,000 U.S. banks and credit unions, making it the only online rates aggregator with the ability to provide the most comprehensive and authentic local interest rate information.

Additionally, Go Banking Rates partners with a number of major media outlets such as Business Insider and US News & World Report to provide compelling and edifying personal finance content, and its expert editors have been featured and quoted on several premier finance websites like Yahoo! Finance, Forbes, The Street, Huffington Post and more.

For questions or comments, or to schedule an interview with a Go Banking Rates editor, please contact Jaime Catmull, Director of Public Relations, at JaimeC(@)GoBankingRates(dot)com, or 310.297.9233 x261.

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How to Cover Mortgage Loan Payments by Renovating Your Home - 5 Tips from Scott McGillivray of HGTV's Income Property How to Cover Mortgage Loan Payments by Renovating Your Home - 5 Tips from Scott McGillivray of HGTV's Income Property

How to Cover Mortgage Loan Payments by Renovating Your Home - 5 Tips from Scott McGillivray of HGTV's Income Property


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