Top Household Renovations and How a HELOC in Henderson Can Help
You've got a home improvement project on your mind, so it's only appropriate you drill down. But your tool of choice isn't a power drill; it's a set of statistics.
You already know, funding home improvements is the number one reason why homeowners take out a HELOC in Henderson. (The others? Funding continuing education, trimming or eliminating high-interest debt, making an investment and supplying retirement income.)
A HELOC in Henderson can pay for your home improvement project
Since you want to spend the hard-earned equity in your home wisely, it's prudent to know which home improvement projects yield the best return on the money, also referred to as cost to value.
The experienced financial counselors at Clark County Credit Union can assist with both pursuits with the help of Remodeling magazine's "Remodeling 2017 Cost vs. Value Report." It provides some fascinating insights about which home improvements pay off most when it comes time to sell a home.
Find your home improvement project
As expected, the cost of the projects in the national report varies widely from one state to another. The equalizer among them is the cost to value. Of the 29 projects in the report, this percentage varied widely, too – from 54 to 91 percent. Surprisingly, the top project actually yielded a greater return on the money, or 108 percent. It should help to place a HELOC in Henderson in the context of these top nine home improvement projects:
- No. 1 project: Adding fiberglass insulation in the attic. It's not a glamorous project, but it's one that helps keep a house cool in the summer and warm in the winter.
Estimated return: 108 percent
- No. 2 project: Replacing a plain front door with a steel door. Other criterion in the report: 20-gauge steel with a half-glass panel, jambs, an aluminum threshold and a composite stop.
Estimated return: 90.7 percent
- No. 3 project: Replacing 300 square feet of vinyl siding from the bottom one-third of the front facade and replacing it with manufactured stone veneer.
Estimated return: 89.4 percent
- No. 4 project: A "minor" kitchen remodeling project, defined as one that updates a 200 square-foot kitchen with: new cabinet fronts and hardware; laminate counters; a cooktop/range, refrigerator, sink and faucet; fresh paint; and "resilient" flooring.
Estimated return: 80.2 percent
- No. 5 project: Replacing a 16-by-7 garage door with a four-section, insulated door that includes windows in the top panel.
Estimated return: 85 percent
- No. 6 project: Replacing a plain front door with a fiberglass version that includes a half-glass panel and boasts a simulated wood grain.
Estimated return: 77. 8 percent
- No. 7 project: Replacing 10, 3-by-5-foot, double-hung windows with vinyl windows. An important provision: the existing interior trim is left intact.
Estimated return: 73.9 percent
- No. 8 project: Replacing 10, 3-by-5-foot, double-hung windows with wood windows and, again, leaving the interior trim intact.
Estimated return: 73 percent
- No. 9 project: Replacing a plain front door with a fiberglass door with dual sidelights.
Estimated return: 70.1 percent
Visit CCCU for your HELOC in Henderson
The home improvement project you have your heart set on may not be on this list, and it doesn't have to be. There is a lot to be said for making an improvement to your home that enhances your environment, no matter how long you plan to live there.
In either case, the experienced financial counselors at Clark County Credit Union are ready to help you proceed with a HELOC in Henderson – and show you how easy it can be to make your home improvement wishes become a reality. Contact CCCU at 702-228-2228 to get started on your HELOC in Henderson today.