Building equity in your home improves your home’s worth and increases the amount of money you can borrow against your home. But depending on the upgrades you make, building equity in your home can also cost a fortune – the good news is that it doesn’t have to.
1. Invest In Paint
A few cans of paint can go a long way in refreshing your home and increasing your home equity. Whether you repaint the house façade or add a fresh color to interior rooms, paint is an affordable way to overhaul an older home and increase its appeal.
2. Add New Lighting
If you can’t afford to overhaul an entire room, adding a new lighting fixture as a focal point can bring a whole new life to the room. You can cut costs more by shopping at used goods stores, reclamation yards, and even on classified websites like Craigslist.
3. Update Your Windows
If you move into an older home, it may be a smart move to replace your windows. Many older homes have single-pane windows that make it harder to save on energy costs and make your come hotter/colder depending on the weather.
4. Update Flooring
New flooring can change the entire feel of a room, and it doesn’t have to cost a fortune. Consider visiting a Santa Clarita Valley flooring store for affordable options replicating more expensive flooring styles and making older homes much more appealing.
5. Repaint Kitchen Cabinets
Replacing kitchen cabinets is a great way to overhaul one of the largest rooms of the house, but it can be an expensive business. Often, repainting older kitchen cabinets can add that extra appeal to the home for a fraction of the cost.
6. Upgrade to a Smart Home
Adding smart features to your home increases its appeal to buyers while making your house a safer and more up to date dwelling.
7. Regrout Your Bathrooms
Over time, bathroom grout gets dingy and can really take away from your home’s value. Older grout can also lead to leaks around bathtubs and showers that require costly repairs. Regrouting bathrooms is not just an aesthetic job – it is also practical.
8. Add A Backsplash To Your Kitchen
Bring an old and dingy kitchen to life with a new backsplash! You don’t even have to spend a fortune on tiling. There are plenty of affordable adhesive kitchen backsplashes on the market today.
9. Powerwash Your Decking
An old worn deck can take away from the value of a home, but power washing and treating the wood can make a huge difference!
10. Replace Kitchen Countertops
Get rid of your older kitchen countertops and replace them with newer, more durable materials. Not only will this give your kitchen a facelift, but it will also allow you to install harder-wearing materials that will last longer than the original countertops. A kitchen countertop installation can also improve your kitchen’s functionality while raising the value of your home, especially if you choose high-quality materials like granite or quartz.
11. Replace Weatherstripping
Replace weatherstripping and draft-proof your home, and you will improve the efficiency of your home’s heating system and cut down your utility bill. With a more efficiently heated home, your home’s value and appeal will increase.
With the right upgrades, you can improve your home equity, increase the amount of money you can borrow against your home, and improve curb appeal should you ever decide to sell.