In a hot real estate market, home inventory is low, competition is high and as a buyer, you may feel like you're on an emotional rollercoaster. Avoid the flood of buyers entering the real estate market and consider tapping into the equity in your current home. Why move when you can improve?
Tapping into your home's equity can be a convenient, low-cost way to borrow at favorable interest rates in order to create the home of your dreams and increase your home's value. Here are four home improvement ideas that will increase your home's value and make it more comfortable for you.
Kitchen Remodel - The kitchen isn’t just a place to cook and eat. It’s the heart of any home. The kitchen is where family and friends congregate during parties, homework gets done, and major decisions are made. According to Remodeling Magazine’s annual Cost vs. Value Report for 2021, kitchen remodels yield one of the highest cost recoveries among home improvements.
Boost the Bathrooms - We spend a lot of time in our bathrooms, so an upgrade that makes this important room more comfortable, efficient and practical makes a lot of sense. Bathroom remodels are another great way to recoup investments, according to the Cost vs. Value Report.
Upgrade Your Outdoor Living Space - With all the time spent at home in 2020, upgrading your outdoor living space is beneficial. A high return on investment makes adding a deck worthwhile, as decks increase your living area but cost less to build per square foot.
Consider an Addition - If you like the neighborhood and need more space, make your house more of a home by considering an addition or finished basement.
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