5 Ways to Increase the Value of Your Home and How a Home Equity Loan Can Help
Keeping your home in good shape often results in getting a higher asking price when it comes time to sell. A home equity loan may be a good option to pay for any improvements you’d like to make. These five tips can help you get your home in pristine condition and increase its value:
1. Open It Up
Open floor plans have been all the rage for quite some time now. Removing non-structural walls can open up space and give your home a better flow with a light, airy feeling. Taking out a kitchen island and even extra furniture can make your space feel completely different.
2. Create Curb Appeal
A little elbow grease can go a long way to increase your home’s curb appeal. Your home’s exterior and yard are the first things buyers see. Chipped paint, overgrown bushes and cracked pavement can all be turn-offs to potential buyers. Keep your yard neatly manicured and invest in some colorful seasonal flowers. If the outside of your home needs painting, a home equity loan can provide the funds you need to hire a professional to do the job right the first time.
3. Keep It Light
Lighting sets a mood and is one of the most affordable ways to increase the value of your home. Changing light fixtures, installing track lighting and even simple additions such as dimmer switches can add a modern touch buyers will appreciate. Another way to improve the lighting in the room is to update or add windows. If the windows in your home are old or in disrepair, consider replacing them. Using a home equity loan to buy new, energy-efficient windows can help you save money in the long run. Another way to lighten up your home is by painting all of the walls a neutral off-white or light beige.
4. Keep Up on Maintenance
Basic improvements and maintenance are vital to increase your home’s value. Adding insulation, upgrading electrical systems, refinishing hardwood floors, and replacing old carpet are just a few ways you can add value to your home. .
5. Bath and Kitchen Upgrades
Giving your kitchen and bath a makeover may seem daunting, but if you spend wisely, it can add significant value to your home without breaking the bank. Removing shower doors, cleaning tile and changing out old faucets, as well as updating cabinet and drawer pulls, are economical ways to freshen things up. If you want to do more involved work, like replacing countertops, sinks, tubs, and appliances, make sure to get several estimates before selecting a contractor.
Get a Professional Opinion Before Taking Out a Home Equity Loan
Contact the financial experts at Clark County Credit Union at 702-228-2228 to find out more about home equity loans and other financing options we offer.