Home Remodeling Equity
Everyone has their dream home improvement project. Most know remodeling adds equity. Most of us never achieve it in our lifetime. I mean, it’s great to read Better Homes and Gardens, but it’s quite another to be able to afford that dream kitchen remodel or landscape overhaul. Plus, how much equity does a project like this add back to your home? There are quite a few projects that can add a huge amount of equity into your home.
Most of the projects on this list don’t require you to take a second home loan out to afford. With interest rates on the rise, these types of home improvement projects might get you to fall in love with your home again. That way if you are not wanting to sell your home, you can make the home you own new.
So which remodeling projects give you the best return on your investment? Let’s examine aesthetics vs. home equity. Let’s take a kitchen remodel. If you spend $35k on a new kitchen, your return on investment could be as high as $20k. If you invest in new windows and spend $10k could get a return of 7500. Of course you might get more joy out of a kitchen remodel. Yet, windows have a higher return on equity.
This is why it is a good idea to take your time and think about which remodeling project you want to accomplish. Heck, even make a pros and cons list to see if that helps persuade you either way.
Of course it is our expert advice to go with something that not only adds equity, but adds energy efficiency as well. Plus, you can have both these things while having more appealing functional items. This could be in the form of new appliances which use less electricity. Or it could be in a new entry door which adds a pop of color and keeps room temperatures more stable. It too gives your home more safety.
Other home remodeling equity projects that add more equity quickly are siding projects and landscaping remodeling. Both have a high return on investment, and are aesthetically pleasing to the eye.
In addition, 65% of all people who do a home improvement project are happier in their own home. 77% of people too feel a major accomplishment when they think of their completed project. These reasons alone are not the be all end all reason you should consider a home remodel, but they are a little added cherry on top of all the other benefits of these types of remodels give you.
Home remodeling equity projects don’t require you to put a ton of money on a high interest credit cards anymore either. A lot of companies offer interest free financing. We certainly do at Conservation Construction. This is a lifesaver if you are needing new windows, siding or doors and don’t have the funds immediately available.
In conclusion, if you really think about it and ask yourself the tough questions, you can get to the bottom of what kind of home remodel you would like to do. No matter which remodeling project you pick, even if it’s simply painting an accent wall, ask yourself what will give you the most joy, return on investment and functionality. It’s these items that will give you more joy in your own home. Remember, it’s never a bad idea to go with windows, siding or doors. These items lower energy costs alone with adding equity.
Please comment below on what your dream home remodeling equity project. As always, thank you for reading and make sure to check out our website for our line of amazing products.