You know that feeling when the first really cold day hits and suddenly your house seems determined to let the cold in? Winter has a way of pointing out all the places around your home that could use a little attention.
While you’re getting out the cozy blankets and checking the thermostat, take a look outside, too. A little fall maintenance can go a long way toward helping your home stay comfortable when temperatures drop. And if your winter prep list comes with a bigger price tag, your home equity may be able to help.
Look Outside Before You Turn Up the Heat
Your home’s exterior does a lot of work to keep the cold outside where it belongs. Before winter arrives, walk around your property and look for anything that could use some attention.
Here are a few places to start:
Roof: Missing or damaged shingles can leave your home vulnerable to snow, ice or other winter weather.
Gutters: Clear out leaves and debris so water can drain properly away from your home.
Windows and doors: Feel a draft? Check the seals around windows and doors and consider whether an upgrade could help keep warm air in and cold air out.
Siding: Cracks or damaged areas are worth addressing before the freezing temperatures arrive.
Attic and insulation: Proper insulation can help prevent warm air from escaping and cold air from making its way inside.
Driveways and walkways: Take care of cracks or other damage now, before freezing and thawing can make them worse.
Some of these projects may be simple weekend tasks. Others could mean a larger investment in your home.
When Winterizing Becomes a Bigger Project
Unfortunately, a new roof, replacement windows or additional insulation aren’t exactly small expenses. If you’ve been putting off a larger home improvement project, fall can be a good time to figure out what needs to be done and how you want to pay for it.
That’s where a home equity line of credit (HELOC) could come into the picture.
A HELOC lets you borrow against the equity you’ve built in your home, giving you access to funds you can use as needed for eligible home improvements. Rather than taking out one lump sum upfront, you can draw from your available credit as your project progresses.
That flexibility can be helpful when you’re tackling a project with costs that may change along the way. As any homeowner knows, the “quick little project” doesn’t always stay that way. Before taking out a HELOC, consider the costs, terms and how the payments would fit into your budget.
A Little Prep Now Can Go a Long Way
You don’t have to tackle your entire home improvement wish list before the first snowflake falls. Prioritize the projects that can help protect your home through the winter and plan for the rest.
And if your plans include a larger improvement, your home’s equity may be one resource worth considering.
Ready to turn your winter to-do list into a plan? Learn more about a HELOC from Members 1st and explore your options for your next home improvement project.
If you’re not sure where to start, your Members 1st personal concierge is here to help. Think of them as your “go-to” for setting and achieving your financial goals. Best of all, they’re here whenever you need them.
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