Make home improvements that pay off

Should you update an aging kitchen, or spruce up your kid’s room? Invest in a new deck, or splurge on a hot tub?

If you’re thinking about tackling a home improvement project, there’s a lot to consider and you’ll want to choose your project carefully. While many projects will increase your home’s value, others could actually hurt it. Nail your home improvement decisions—and invest in projects that’ll pay off--with our top “do’s” and “don’ts.”

 

Do:
1. Get the biggest bang for your buck. These home improvements can potentially increase your home’s value and give you the biggest return on your investment:

• Entry door replacement: 96% return
• Deck addition (wood): 87% return
• Attic bedroom: 84% return
• Garage door replacement: 83% return
• Minor kitchen remodel: 82% return

2. Create space. Knock out a non-structural wall or remove that kitchen island. Anything that opens space and creates a sense of flow is helpful.

3. Prune and landscape. Tame those tangled trees and unkempt bushes that can obscure views and darken interiors.

4. Address the basics. Insulate the attic, repair plumbing leaks or replace rusty rain gutters. These fixes—though unglamorous--can go a long way toward boosting your home’s value.

 

Don’t:
1. Excessively decorate your children's rooms. Yes, it may be a lot of fun to paint a mural wall in your toddler's room, but the time and money spent will likely not be recouped if you sell your home. It’s better to paint with more neutral colors.

2. Add textured walls. Textured walls can be difficult to sand down or remove. If you do choose to texture a wall, try to choose one that can be easily converted back to a typical flat wall.

3. Install a hot tub. A hot tub is a great place to relax and unwind after your day. Down the road, though, potential homebuyers could be turned off by using someone else's hot tub.

4. Convert extra bedrooms into non-bedrooms. Really want that formal dining room? Before you convert the main-floor bedroom to accommodate, be careful not to change too much -- and be sure not to touch the closet. In order for you to list the room as a bedroom in the future, the closet must stay intact.

 

Whether your project is to make your life happier, or your goal is to improve your home's resale value, make it happen with a home equity loan from Think. Let us know what you need, and we'll help you find the option that best fits you and your family's needs. We can also help you with the purchase of a new home if you decide to sell. Visit one of our branches or call 1-800-288-3425 today.