Renovations to Increase Your Home’s Value

Minute Read

Renovations to Increase Your Home’s Value

Your home is an investment from day one. Putting money into your home now will hopefully result in a higher selling price and more money in your pocket on settlement day. While some buyers are okay with buying a house that needs some love, wouldn't it be great if your home was turnkey-ready? Think about how much you will enjoy your upgrades too!

Here are indoor and outdoor renovations to consider that could increase your home's value:

Room to Grow

Often, buyers are house hunting because they crave additional space. Maybe they need an office to work remotely, a basement to entertain, or an extra bedroom for their family. Look at your home's total square footage. Is there undeveloped space either inside or outside of your home that you could improve?

Let's think indoors. Perhaps you could finish your basement, take down walls to open your floor plan or enclose a space to create an office or nursery. If your square footage is limited, an addition such as an extra bedroom could be a profitable project.

Outdoor projects boil down to the exterior appeal of your home. Sellers want a home exterior they can enjoy, entertain in, but that's also easy to maintain. Is your driveway and front porch or entrance area in good shape? Perhaps your back patio or deck could use a facelift, or maybe it's time to add that outdoor area.

The Essentials

Outdated kitchens and bathrooms can deter buyers from purchasing a house because they view them as expensive projects. Consider your kitchen and bathroom sizes and layouts and the number of bathrooms in your house. In both rooms, old cabinets, appliances and flooring could also be home renovations to consider.

Kitchens bring people together as they gather around food, family and friends. Altering the layout of your kitchen could make it more inviting to buyers and expand options for putting in an island or breakfast nook.

Give your bathroom(s) an updated look by replacing your tub or shower, vanity and flooring. Small changes like new fixtures and paint can make a difference as well. A cramped or limited number of bathrooms can be unappealing to buyers. Could you add an on-suite bathroom to your master bedroom, expand the room of an existing bathroom or add a half-bath on your first floor?

Funding Your Renovations

When you choose the renovation projects you would like to pursue, do not let costs deter you. With every mortgage payment, you build equity in your home, and you can use your home's equity to pay for your home improvements.

Have questions? As a member, you have access to a personal concierge—your go-to for help setting and achieving your financial goals. It's their full-time job to help you navigate the details of spending, saving and planning for the future. Best of all, they're here whenever you need them.


Our Blog

Recommended Reading

Borrow Wisely
7 Home Renovation Budget Tips

Upgrades can help to increase your home’s value. Plus, you get to enjoy these new additions while you live there. However, everything comes at a price.

Read More
Borrow Wisely
Patty and Bryan's Home Equity Story

Buying your dream home is one of those big life milestones that you save up for and dream about. For our members, Patty and Bryan, their dream home ended up being one that had just a little bit more character than they had originally envisioned. Built in the 1980s, they saw their new home as an investment and wanted to give it a little face-lift so that they could bring it to its full potential. To do so, they knew they were going to need a little bit of help financially, so they turned to us for some assistance.

Read More
Borrow Wisely
Make the Most of Your Home's Equity

One of the great benefits of buying a home is building equity and using that equity as a financial tool to accomplish your goals.

Read More

Please be aware that by continuing you will be leaving and viewing content from another website.

For your protection please be advised that public Internet email is not secure. Various links within our web site allow you to submit information to us by public Internet email. Please DO NOT provide personal or account information through public email or submit any personal information that would compromise your identity including your account number, social security number, credit card numbers, electronic services PINs, passwords or mother's maiden name. Members 1st will not respond via public Internet email to requests-for-account-information or account activity. Please contact Customer Service with these types of requests at (800) 237-7288 or (717) 795-6049.