Enhancing the size and quality of your home can increase its value and your equity. Many small projects can increase the value of your home.
Some projects are much more beneficial than others. Traditionally, kitchen and bathroom renovations bring a much higher return on investment than leisure amenities such as pools or outdoor kitchens. If you have the budget to do a kitchen or bathroom renovation, then you can significantly increase your equity.
If large renovations aren’t in your budget, consider taking on a few smaller projects in the kitchen and bathroom, as well as other areas of the home, to help increase your equity. Some smaller projects you may want to consider include:
- Paint rooms, ceilings and trim
- Add features like crown molding or board and batten
- Update the hardware on doors and cabinets
- Give your appliances a face lift with stainless steel contact paper (or go with a fun pattern!)
- Add curb appeal to your home: give shutters and front door a fresh coat of paint and add some flowers and greenery
- Update your curtains, rugs and throw pillows throughout the home as well as the shower curtain and towels in the bathroom
- Remember, a successful home improvement project that builds equity is one where the cost does not exceed the added value.
Equity Prime Mortgage is committed to walking you through the home-buying process. Please contact us at 609-597-0007 or firstname.lastname@example.org to further discuss how owning a home may be more beneficial for you.