4 Ways to increase your home’s value with a home equity loan

In today’s market, many people are choosing to update their current home, rather than purchase a new one. While these updates can be as large as a complete house flip, or as small as a new coat of paint on the walls, many can greatly increase the value of your home

Here are 4 updates to make that are most likely to raise the value of your home.

1. Renovate

Updating your home’s interior and/or exterior can add significant value. This can be anything from a simple coat of paint to a full room redo!

Internally, you can update places like kitchens, bathrooms and flooring. While externally, enhancing your curb appeal with new landscaping or upgrading to stainless steel siding may be the way to go. Either way, giving your house the “facelift” you’ve been dreaming of can be a great way to add value to your home.

2. Add square footage

Increasing the size of your home can also increase its value. This can be done by finishing your basement, adding an extra room, or even building an addition onto your home.

Adding square footage not only allows for you to have more living space to enjoy now, but it will also make your home more appealing to potential buyers in the future.

3. Improve energy efficiency

Making your home more energy-efficient can also add value. This can include adding new windows, upgrading your HVAC system, or installing solar panels.

According to the United States Census Bureau, between 2019 – 2021, “13.5 million homeowners made energy efficiency improvements.” Make your house more competitive by ensuring it is at the same level of energy efficiency as other homes in your area.

4. Keep up with maintenance

While this may seem self-explanatory, regular maintenance, such as fixing leaks, repairing damaged roofing and replacing worn-out appliances, can help maintain and increase your home’s value over time.

Keeping up with routine maintenance can also help prevent major repairs down the line, improve energy efficiency and create a healthier living environment for you and your family.

Give one of our experienced Mortgage Lenders a call today.