5 Remodeling Ideas That Will Raise the Equity of Your Home

If your home needs a little work, it can be hard to decide which project is worth the investment. So, what is equity and why does it matter for a remodel? Equity is the difference between how much you owe on your mortgage and the fair market value of your home.

When it comes to building equity, some remodeling projects will give you a lot better bang for your buck. The goal of any project should be to boost livability and increase your home’s value.

Advertisement

Before you break out the hammer, check out these five ways to boost your home equity. From finishing your basement to replacing your garage door, this guide has everything you need to know about how to raise your home value.

1. Finish Your Basement

Basements hold a ton of untapped potential. Finishing a basement can add some major square footage. This article provides a round-up of the different floor options that are perfect for basement updates.

In an unfinished basement, you have the ability to add bedrooms and bathrooms, as well as more living space. The more bedrooms you have, the more the value of your home goes up. You’ll see a 70-75% return on your investment when it comes to finishing the basement.

2. Replace Carpeting

Carpeting is less valuable than hardwood, vinyl, or tile when it comes to flooring materials. If you currently have carpeting that needs replacing, switching it out for new carpet will make your home show better but it might not increase the value all that much.

Instead of putting in new carpet, consider investing in hardwood, engineered hardwood, vinyl plank flooring, or tile.

3. Add a Deck

Adding a deck to your home offers a great return on your investment. Not only will it boost your equity but it also enhances your quality of life. You’ll have more useable square footage outside and a ton of extra entertaining space.

In terms of home improvements, a deck is well worth the money. When you sell your home, a deck is almost universally appealing to buyers. In the meantime, you’ll also be surprised at how much time you and your family use it.

4. Minor Kitchen Remodel

Kitchen remodels can be expensive. While a great kitchen can help sell a home, you can definitely overspend. If you’re looking to remodel your kitchen while still building equity, scale down your project. If you’re just going for your ultimate dream kitchen, go for it.

To best recoup what you spend, focus on updating appliances, resurfacing cabinets, and changing out lighting. You can give your kitchen an inexpensive facelift without massively remodeling.

5. Boost Your Curb Appeal

Your front yard is the first thing buyers see. When guests and potential buyers walk up, they will be able to tell pretty quickly how well you’ve maintained the home.

Make a good first impression by replacing your old front door. A steel door is energy efficient which is a nice bonus. Fiberglass doors can look like wood, but they are less expensive. These will also give you a lot of longevity.

Garage doors are also a great place to add equity. Replace your garage door and your home will increase in value and look great from the front.

Raise the Equity of Your Home

Fixing up your home comes with a lot of decisions. While you want a fresh look you also want to be smart with your investments. From your curb appeal to your kitchen, these five updates will help increase the equity of your home.

Remember that you don’t need to spend a lot to boost your home’s resale value. For more great home and DIY tips, check out the blog section.

How to Get a Good Deal When Selling a Damaged House

Fire accidents occur and bring several damages. This is something homeowners face sometimes. A damaged proper makes you want to sell it....

Maple Furniture – Pressure On Online Retailers With Recent Coronavirus Challenges

People looking for high quality maple furniture on flexible payment terms can still acquire furniture, even despite recent challenges with the coronavirus...

How Often Should a Septic Tank be Pumped?

Septic tanks are one of the most vital parts of your home—without proper care, you could face up to $50,000 in damages...

Tips for Choosing Work Boots

Looking for work boots for DIY or construction – here are some tips to ensure you choose a comfortable pair. 

3 Places to Use Removable Wallpaper in Your Home.

Decorating the place where you live is a right of everybody. No one wants to reside in a place that is not...

EPC Belfast for Landlords and Homeowners

When do you need an EPC (Energy Performance Certificate)? Whether you are selling or renting a house in Belfast you need...