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Spring into action with a HELOC

Spring into action with a HELOC

Take advantage of the equity you’ve put into your home and spring into action this year! Get started with those home projects you keep putting off that will increase the value of your home. Finish your basement, add a bathroom, or fix your roof to prepare for the changing seasons. Here’s some tips on projects that could help increase your home’s worth:

Finish your basement

Your slab-of-concrete basement serves no real purpose but to collect dust and cobwebs at the moment. You dream of making it into a bright and cozy space you could use for just about anything. With all this space to work with, this blank canvas practically oozes potential and presumably money, too, when the time comes to sell your home! But how much value does a finished basement add to a house?

Finishing a basement will run you $18,400 on average, but can cost anywhere from $11,000 up to $34,000, largely depending on your square footage. The project might involve installing drywall, flooring, and paint but can recoup up to 70% of the cost, according to HomeAdvisor.

Open up the floor plan

Knocking out the right wall creates that spacious layout on buyers’ wish lists. A National Association of Home Builder’s (NAHB) survey shows that buyers favor designs that are either completely open or partially open around the living room, dining room, and kitchen. Open concept designs can make your home feel larger, let more natural light flow through your home, and gives clear sightlines.

Install hardwood floors or refinish your existing ones

According to National Association of Realtor’s 2019 Remodeling Impact Report, refinishing hardwood floors recovers 100% of the cost at resale, while new wood flooring recoups 106% of costs. Wood floors add a touch of style and elegance to your home, and the natural texture adds warmth.

Using your existing HELOC

If you have an existing HELOC, you’re ready to get started on your spring projects! Just log into digital banking and transfer money from your HELOC to your checking account! Don’t have a checking account? You’re missing out on cash rewards. Click here to learn more about Cashback Checking.

If you don’t want to earn cash with Cashback Checking, visit your nearest Centra location. A Team Member can help you withdraw money from your HELOC or help you get checks for it.

Applying for a HELOC

If you don’t have a HELOC yet, click here to get started today! We can help you navigate through your questions during the process. You can do it, and we can help!