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Monday, October 25, 2021

Popular Home Improvements People Are Financing with Home Equity

Popular Home Improvements People Are Financing with Home Equity
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The equity of your home is the current market value of the property and the balance of the outstanding loan you have. The equity you have can be turned into a form of cash. To increase your home’s equity, you pay off the loan and add value by performing maintenance. Reinvest the equity you have back into your home by making home improvements to further improve your return on investment. 

Kitchen Upgrades 

The kitchen is the centerpiece of your home. Countertops and cabinets are used multiple times a day. Because of their extensive use, it is important to invest in nice materials to maintain their life and quality. Material that holds well for countertops includes granite, quartz, natural stone, and other solid surfaces. Cabinets open and close frequently and put up with a lot of spills. Investing in durable wood that has stain and scratch-resistant coating will prolong the life of your kitchen. It is important to remember that cabinets and countertops are semi-permanent features, choosing high-quality materials will save you money without the need to replace them frequently. 

Bathroom Remodels 

Every individual needs a space where they can relax and recharge. Getting ready in the morning is an important routine that should feel luxurious. Investing money into your master bath, especially into custom lighting and a spacious shower, will spoil you and bring your bathroom to a new level. New showers with glass doors tend to be cleaner as they do not harvest bacteria as much as a shower curtain (when cleaned regularly). Custom lighting can significantly improve your getting-ready experience. With a bathroom that looks expensive, you not only give yourself a place to enjoy getting ready, but you also increase the home’s value. 

A New Roof 

The environment can have a major impact on the integrity of your home’s roof. Over time, your roof loses its structural integrity from heavy snow, rain, strong winds, and direct sunlight. Shingles and gutters need to be cleaned out frequently to avoid the buildup of debris, leaks, and permanent damage. Occasionally, you need to replace the roof entirely. Replacing the roof will protect your home from collapsing on itself. A new roof can also increase the life expectancy of your home. As your home ages and increases in value, a roof replacement will give you a large return on investment. 

Deck Additions 

Adding a deck to your backyard has high desirability for current owners and an even higher resale value. There are many ways to improve your lifestyle with all the features you can add to a deck. Adding a deck to relax in the sun, host parties, entertain dinner guests, and even host a picnic is perfect for being social and spending time outdoors. With the addition of a deck, you can expand the interior of your home, install an outdoor kitchen, and have the perfect spot for enjoying your morning coffee. Deck additions are the perfect transition piece from the outside to the inside of your home. 

Floor Replacement 

The flooring in your home doesn’t have it easy. Ground surfaces put up with food traffic, pet claws, spills, and anything else that falls by the wayside. With so much dirt and debris involved, it is impressive that your floor holds up as well as it does. It is generally recommended that carpet is replaced every 10 years, or when you first move into a home. This will help combat allergens stuck in the carpet and general upkeeps. Wood and tile flooring lasts longer when taken care of properly. If your floor is warped, scratched, cracked, or dull, it may be time to investigate flooring replacement options. 

Siding and Insulation 

The siding on your home not only contributes to its curb appeal, but it is the most protective layer against the exterior elements. Coupled with insulation, this is what protects your home from extreme temperatures, and pests. Over time your siding and insulation becomes damaged and loses its integrity. Damaged siding can let in pests, rodents, and mold growth. Your insulation will cease to be effective if moisture seeps into it. These unwanted problems can cause extensive damage to your home that is costly to repair. Investing in durable siding and replacing your insulation will better protect your home. Long-term savings include an increase in energy savings and an increase in your home’s value. 

Windows and Doors 

Like insulating your home with high-quality siding, it is worth the investment to upgrade your windows and doors. Your windows and doors act as a barrier from the outside world, without the added benefit of insulation in between. High-quality windows and doors help control the internal temperature, increasing your energy savings. Energy-efficient doors and windows can also help you qualify for energy tax credits and rebates. Newer models are also better at protecting you from UV rays and filtering the light, without adding a unique tint. They are also safer with added technology to prevent break-ins. 


Although people tell you not to “judge a book by its cover”, homes are one of those assets that people immediately judge on what they see. If you want to increase your curb appeal, invest in landscaping. Landscaping is as expensive as you make it, but the more you put into it, the higher value your home will be. Landscaping has been shown to recover 267% of associated costs. Landscaping is also great for controlling water runoff and preventing floods during rainy seasons. Ultimately, tasteful landscaping will attract more buyers and increase the value of your home. 

Your home’s equity increases each year. You stimulate the equity in your home even further when you add value with remodels and maintenance. Using your equity to perform remodels will lower your interest rates, act as a tax deduction, and yield a higher return on investment. Continue to treat your home like an investment by using the equity you build to make home improvements that further boost your home’s value.

Read this next: 4 Budget-Friendly Ways to Brighten Up a Dingy Home

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