Original Home

  • Location: Middleton, NJ
  • Built in 1998
  • 3,704 sq. ft.
  • 6 beds, 3.1 baths
  • Total renovation cost: $403,630

Original value:


The Renovation

  • Basement transformation
  • Master suite addition over garage
  • Interior remodel
  • New electrics, HVAC and plumbing

After renovation value:


Athas and Kelley found a beautiful, high-end home in a great neighborhood in Middletown, NJ. From a quiet, secluded setting with a large lot and awesome pool to the large living spaces on all three levels, there was a lot to love about their home. But unfortunately, it just wasn’t giving them that modern luxury they deserved.

But their renovation wish list items were far more than aesthetic, and they knew if they were going to do this renovation right, they were going to go big — and make it their dream home. Thanks to a RenoFi loan, they were able to do just that. 

The project



Athas and Kelley’s project included the following:

  • Basement 
  • Master Suite
  • Kitchen
  • Lighting
  • Flooring
  • Exterior
  • Stairwell
  • Painting 
  • Bathrooms



Like with many previously owned homes, this $850,000 home just wasn’t the right fit for Athas and Kelley’s specific taste. They were anxious to give the interior and exterior needed some major updating, which involved creating larger doorways and fewer walls for a more open flow amongst the living spaces and adding a whole new master suite above the garage, in addition to all new paint, flooring, cabinetry, and fixtures added throughout the home. 



The problem

While many of their home’s features met their family’s needs from a functionality perspective, the home was largely out of date in terms of style and modern conveniences. Having been originally built back in 1998, it sported outdated wood trim and floors, funky paint choices, traditional decor, dark carpeting, and more, while lacking a contemporary layout and proper master suite.  

Athas and Kelley were ready to bring their home to the 21st century, while adding their own personal style to the plans. And they knew there was a lot of work to be done — touching almost every room in the house.

They would start with the exterior, adding stone siding around the home, installing new gutters, and renovating the front porch. On the main level, they refurbished all the wood floors, painted, updated the bathrooms, and demoed the kitchen for a full remodel with a more open concept layout flowing to the living and dining areas.

Upstairs, they added a brand new 640 sq. ft. Master Suite above the 2-car garage with a private deck and luxury bathroom, while updating all secondary bedrooms with new paint and flooring. Down in the basement, they turned the drab space into a beautiful new lower level, complete with wet bar, cigar room, bedroom, and full bathroom.

Last but certainly not least, all of the home’s electrical and plumbing, as well as the HVAC system were updated. 



The financing

With the home’s current value appraised at $850,000 and a CLTV of 89.60%, they were looking at an after renovation value (ARV) of $1,215,000. A renovation of this scale and increase in property value made a RenoFi loan the best solution to cover everything on their wish list. Since the loan was based on the ARV of their home, they were able to maximize their borrowing power to cover the extensive costs. Their loan totaled $379,000, which allowed them to tackle the hefty renovation value of $403,630 with a peak CLTV of 118.98%.When all was said and done, Athas and Kelley had the modern, upscale home they always wanted, while increasing its overall property value over $365,000!

For more information on this project or to see other case studies like it, check out our Before & After stories, and contact our renovation advisors to learn more about how you can finance your home renovation with a RenoFi loan today!

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