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Spring Revival: Transform Your Home and Its Value with These Proven Renovations

Apr 15, 2024
Images of three different areas of a home for renovation.

As spring blooms around us, it's the perfect time to dive into the world of home improvement! But let's not settle for just any old project – let's focus on the ones that promise the biggest bang for your buck. Ready to ramp up your home's value? Here are three home improvement projects that can significantly increase your home's value.

Update Your Kitchen

Revamp your kitchen to receive a positive return on your renovation investment (ROI). You don't have to do a complete overhaul. Consider updating the countertops, refreshing your cabinets, or find ways to add storage to the space. But if you're feeling ambitious, research from the National Association of the Remodeling Industry suggests that kitchen remodels typically boast a generous 70% return on investment!

Update The Flooring

Let's talk about making a grand statement! Investing in hardwood floors for your home might seem pricey upfront, but the returns are nothing short of impressive. According to the report, investing $3,400 in refinishing hardwood floors could potentially raise your home's value by $5,000 – that's an impressive 147% return on investment! And if you're starting from scratch, installing hardwood floors could add an average of $6,500 to your home's value, offering a solid 118% ROI.

Replace Doors

Get ready to elevate your home's curb appeal with a simple yet impactful upgrade – the front door! According to data from a real estate app, investing in a new front door could deliver an impressive average return on investment of 488%! And if you've got a garage, upgrading that door could bring in a solid 93% ROI. But before you dive in, remember to set a budget for any of your home improvement projects.

How To Pay For The Repairs

Ready to tackle those necessary repairs but unsure about financing? Consider discussing a Home Equity Line of Credit (HELOC) with one of our mortgage experts. Picture it as a pool of readily available funds, that you can tap into whenever needed, much like having a flexible credit card or checking account. You can opt for a debit card, checks, or online banking transfer with direct deposit for seamless access to your HELOC funds. And here's the best part – you're not obligated to use the full borrowing limit, and you'll only pay interest on what you use. Keep in mind that HELOCs typically come with adjustable interest rates, so your monthly payments may vary. Consider a HELOC if you want extra funds for emergencies or if you're planning a long-term renovation project that requires incremental borrowing over time.



*Data and information from May 2023.

This is not an application for mortgage.  Mortgage prequalification helps to determine if you meet the minimum requirements for a loan and how much home you can afford.  If the qualifications are met for the purchase price and loan terms you have listed you will be presented a pre-approval letter.  If you’re confident in your finances and are ready to apply now, you should complete a full application instead.

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