If you aren’t planning on staying in your current home forever, you should ensure that the remodel decisions you make now will pay off in the future. We’ve listed a few of the remodeling projects that will actually make a difference in the value of your home below.
- Upgrade Siding. This is a quick way to drastically change the look of your home and increase the value also. According to one real estate website, you’ll likely recoup about 80 percent of the total cost of the addition or replacement of vinyl siding on your home.
- Add a deck. Adding a deck is another way to change the look of your home, but it’s not as much work as adding or upgrading siding. Not only will this give you a great outdoor space to enjoy, it’s a major positive in potential home buyer’s eyes too.
- Overhaul your kitchen. Kitchens are a big selling point, so if you upgrade your kitchen by giving it a better layout or more modern look, you can expect for it to pay off when you decide to sell it.
- Remodel your basement. Finishing a basement can create more finished living space to enjoy, and it can really increase the value of your home. You can expect to recoup more than half of what it cost you to add the basement when you decide to sell your home.
- Replace your garage door. This might not be something you think of when you consider upgrading your home, but adding a new garage door to your home can be a really good investment. It might be just the upgrade your home needs and it will pay off when you decide to sell.
If you’re thinking, “all these projects sound great, but how am I going to pay for them?, you’re not alone. That’s why Centra offers two different kinds of Home Equity Loans – Home Equity Lines of Credit and Fixed Home Equity Loans. With a HELOC, you can get access to a large amount of money to complete your project, and then you can pay it back over time.
To learn more about how you can secure a HELOC for your home renovation project, or to discover other ways you can increase the value of your home, visit our site here.