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Home Improvement: Is It Worth It?

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Home Improvement: Is It Worth It?

When you’re deciding how to make your “home sweet home” a little sweeter, where do you start? If you’re not sure how long you’ll live in your house, is it even worth investing the time, money and effort into new construction or upgrades?

Man and woman painting stairway in house

There are some updates you may want to do just to meet your personal preferences, while other improvements are important for potential buyers in the future (think roof repairs or a new A/C system). While only you can determine which changes fit your budget, this list can help you decide which updates are right for your house.

If you’re planning to sell your home, you should add these projects to your to-do list:

• Give your house a facelift by patching any holes or cracks in the walls and ceilings, and painting dark areas with neutral colors.

• Stop any leaks by fixing dripping faucets.

• Do some cost-effective updating by paying attention to light fixtures and ceiling fans.

• Spruce up the floors by replacing cracked tiles. If your carpets are torn, worn or stained, either spend some money on a professional cleaning service or invest in some floor coverings.

• Add some curb appeal by making sure your yard is clear of clutter and your front door is inviting and freshly painted.

If you’re looking to invest some money in larger updates, you may want to consider the following:

Balance your bathrooms with what the other houses in the neighborhood have. If most of the homes selling around yours have two baths and your house only has one, it might be a worthwhile investment to make your home competitive.

Keep your focus on the kitchen. If you’re wondering which room you should upgrade and your kitchen is on the list, that’s probably the room you should go with. Shiny new appliances and countertops can go a long way with potential buyers, and with the kitchen being the “heart of the home,” it’s a safe guess that this will be where buyers plan to spend a great deal of their time anyways.

Go back to basics. Make sure everything in your home is functioning well. If you’re showing buyers your home in the heat of summer with no air conditioning, you’re probably not going to make that sale. If a buyer has to choose between a sparkly new kitchen or a roof that doesn’t leak, chances are they’ll take the functioning roof every time. Cosmetic updates are nice, but they should be put on the back burner if you have a major repair issue on the horizon.

A bigger question than “Which renovations should I complete?” could be “How am I going to pay for this?” If you’re considering making significant updates, you may want to consider a Home Equity loan, which would allow you to use the equity you’ve built up in your home to make updates and renovations.

And of course, if you’re making these updates in anticipation of selling your home, why not talk to an RBFCU preferred real estate agent? They can meet with you and put you on the fast-track to completing a successful home sale.

Information in this article is general in nature and for your consideration, not as financial advice. Please contact your own financial professionals regarding your specific needs before taking any action based upon this information.

Loans subject to credit approval. Rates and terms subject to change without notice. The specific rate will depend on your credit rating and term. Home Equity Loans are available only on property in Texas. As a safeguard, a 12-day cooling off period is required by Texas law before Home Equity Loans may be closed. There is also a three-day right of rescission after closing before the funds may be disbursed. Minimum loan amount is $4,000. Borrower will be responsible for certain closing costs, if required, such as title, insurance, appraisal fee and survey costs. NMLS# 583215

Kuper Realty Holding Company, LLC dba Kuper Sotheby’s International Realty is a subsidiary of RBFCU Services LLC. RBFCU Services LLC is affiliated with Randolph-Brooks Federal Credit Union (RBFCU).

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