A home equity loan is an excellent option for financing home renovations. Still, not all home renovations increase your home's value or retain their value if you decide to sell your home. It's important to understand why you want to update your home, since some updates add more value than others. Are you renovating for a nicer place to live, to increase your home's value for resale, or both?
It is often the less expensive fixes lacking a “wow” factor that offer the best return on investment. Here are some home improvements, big and small, that add value to your home.
New front door
It's all about the curb appeal. After all, it is the first impression of your home. Front doors instantly make your home more attractive from a buyer's perspective. Plus, if you plan to stay in your home, you get added curb appeal, and old exterior doors can be a large source of energy loss. A new front door is a win-win: you improve the look AND the energy efficiency of your home.
Similar to a new front door, a new garage door increases your curb appeal instantly, and there are many other ways to improve your curb appeal that won't break the bank: Make sure your exterior paint is clean and chip-free. Ensure your grass is properly mowed and edged, and consider adding some plants or nice furniture to create a colorful outdoor space.
The kitchen is called the heart of the home for a reason: it's where everyone seems to gravitate.
Siding replacement or manufactured stone veneer
Old, faded siding makes any house look dated and worn out. New siding can be a cost-effective way to freshen a home exterior.
Use manufactured stone veneer to increase your curb appeal further. Consider replacing part of your siding with a manufactured stone veneer. Stone veneer on your entryway is considered a significant curb appeal upgrade.
Add or upgrade your bathrooms
If you've ever lived in a house without enough bathrooms, you understand the importance. If you plan to sell your home, an additional bathroom, or an update to your existing bathrooms will attract potential buyers. His and her sinks, spacious showers, and plenty of storage are a must in any bathroom remodel.
The kitchen is called the heart of the home for a reason: it's where everyone seems to gravitate. An updated kitchen can create many memories, and it can appeal to potential buyers. If you’re remodeling your kitchen, plan for plenty of storage and counter space. If you have the space, island counters add to the appeal and flow of your kitchen. It is ideal to coordinate all your appliances, and stainless steel continues to be a popular finish.
Ready to finance your renovations?
When you are ready to use your home's equity for home improvements and renovations, Texell's Home Loan Heroes are here to help. You can get more information and check rates on TexellHomeLoans.com, and when it’s time to get approved, our online process is the best in the business. If you have questions, we are happy to help at 888.922.3001.
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