{"id":2307,"date":"2021-05-04T19:51:22","date_gmt":"2021-05-04T19:51:22","guid":{"rendered":"https:\/\/www.cascadecu.org\/?p=2307"},"modified":"2021-05-22T00:01:59","modified_gmt":"2021-05-22T00:01:59","slug":"4-ways-to-use-your-homes-equity-to-improve-your-home","status":"publish","type":"post","link":"https:\/\/www.cascadecu.org\/4-ways-to-use-your-homes-equity-to-improve-your-home\/","title":{"rendered":"4 Ways to Use Your Home\u2019s Equity to Improve Your Home"},"content":{"rendered":"

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\n <\/div>\n4 Ways to Use Your Home\u2019s Equity to Improve Your Home<\/h1>\n

A Home Equity Line of Credit (HELOC) is a great way to finance home improvements at a lower rate than what you might receive using the average credit card. The best part about using a HELOC is that you\u2019re literally using the value of your home to increase its value. <\/em><\/p>\n

Let’s assume your home is worth $275,000 but you only owe $175,000 on the mortgage. That means that you have $100,000 in equity. Borrowing against that equity allows you to receive a loan at a low interest rate. That’s because your home acts as collateral — something that you own, that can be used to secure the loan.
\nWhat are some of the best improvements you can make to increase the value of your home?<\/p>\n

(Keep in mind that all of these improvements show the best return if you\u2019re making primarily cosmetic changes vs. major changes like tearing down walls or relocating plumbing).<\/p>\n

1. Kitchen remodeling<\/h3>\n

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The most recommended updates to show a return on your investment:<\/p>\n

1. New appliances.<\/strong> If you currently have mismatched appliances that are 20 years old, it\u2019s time to replace them. Not only are new appliances more energy efficient, if you are putting your house on the market buyers expect a matching suite of appliances.<\/p>\n

2. Updated cabinets.<\/strong> If cabinets are falling apart, tear them out. If it\u2019s only the finish that\u2019s outdated, sand and re-stain them or paint them using a modern color palette.<\/p>\n

3. Countertops.<\/strong> Go with stone if your home and neighborhood support that expense. Go with less pricey and lower-maintenance options otherwise.<\/p>\n

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2. Bathroom remodeling<\/h3>\n

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Bathroom remodels also provide a relatively good return on investment, with 64 percent of a midrange remodel\u2019s cost recouped, according to Remodeling\u2019s 2020 Cost vs. Value report.<\/p>\n

Your return on investment for a bathroom makeover will depend partially on the quality of the materials partly on the quality of the workmanship. Unless you have considerable skill, leave the remodeling to a professional and skip the bathroom as a DIY project.<\/p>\n

Focus on these improvements:<\/h5>\n

New fixtures.<\/strong> Banish the blue toilet. Pay attention to the sink and vanity with an eye toward storage
\nMake a splash with tile.<\/strong> You can\u2019t go wrong with white subway tile; it\u2019s a classic. In a small bath you can also splurge a little and gain tremendous value for the investment.<\/p>\n

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3. Building a deck<\/h3>\n

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Whether you\u2019re building or repairing your deck, this asset is a tried-and-true way to add value to your home.
\nDecks usually have close to a dollar-for-dollar return on the investment \u2013 around 80% give or take a few percentage points. It’s one of the best home improvements you can make to drive up your home’s value.<\/p>\n

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4. Enhancing Curb Appeal<\/h3>\n

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Curb appeal not only adds charm to your home it also adds value to your property. When you consider the best home improvements you can make, don\u2019t overlook the outside of your home. A beautiful exterior sets the stage for what\u2019s inside.<\/p>\n

Whether your exterior improvements are from the top down or the bottom up, these upgrades will add value to your property:<\/p>\n

1. New siding, windows, or roof for the house.<\/strong> If the house needs more than a new coat of paint, replace the siding. Make sure windows are energy efficient.<\/p>\n

2. Replacing your garage door.<\/strong> This action can practically pay for itself, in some instances a new door can not only provide an instant facelift; but they can be one of the more modest home improvement expenses.<\/p>\n

3. Landscaping can quickly pay for itself.<\/strong> Sod, plantings, and the all-important deck for outdoor living space all add to your property value.<\/p>\n

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If you\u2019re considering home improvements, it\u2019s always a good idea to speak with someone who has gone through the process before\u2014 This can be a simple way to avoid costly mistakes. If you would like to learn more about a Home Equity Line of Credit<\/a> and if this option is right for you, contact us today<\/a>.<\/em><\/p>\n

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It’s time for summer projects! Find out what changes are most recommended to increase the value of your home<\/p>\n","protected":false},"author":4,"featured_media":2309,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[33,34,35],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/posts\/2307"}],"collection":[{"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/comments?post=2307"}],"version-history":[{"count":12,"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/posts\/2307\/revisions"}],"predecessor-version":[{"id":2419,"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/posts\/2307\/revisions\/2419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/media\/2309"}],"wp:attachment":[{"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/media?parent=2307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/categories?post=2307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cascadecu.org\/wp-json\/wp\/v2\/tags?post=2307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}