Add to your living space by finishing your basement. The basement is an often-ignored space with potential to give your home some extra breathing room. Reimagine your basement as a family room, a playroom for the kids, or even space for an extra bedroom or bathroom.

Make your kitchen more functional. The usability of your kitchen sets the tone for your satisfaction with your entire home. Consider adding an island for extra counter space and storage or claiming more square footage by removing a wall between your kitchen and adjacent room.

Stop clutter at the door by adding a mudroom. Whether through converting part of your garage or building a bump-out addition, a mudroom can be a much-needed storage space for wet shoes and clothes. It can also house everything from keys to sporting equipment that you need to take with you when you leave. A well-utilized mudroom can make the rest of your home more livable.

Ready to take advantage of the $108,000 in home equity the average homeowner gained in the last three years? The experts at National Iron Bank can help you finance the renovation your home needs. Click here to learn more!

Excerpts from Better Homes & Gardens and US News