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What Can You Do With the Equity in Your Home?

Wednesday, June 29, 2022   /   by Bob Cowan

What Can You Do With the Equity in Your Home?

What Can You Do With Your Home’s Equity?
Your Home Sold Guaranteed Realty Bob Cowan

You likely have a great deal of equity in your home right now if you're like a lot long-time homeowners. Even if interest rates are beginning to rise, it is still a good time to obtain a second mortgage or a HELOC if you have been considering doing so.

A large amount of equity in your house can allow you to do some urgently needed renovations, either to help you age in place or to meet other lifestyle requirements. Although it's a chance to make significant improvements or changes, there are undoubtedly some methods to use the equity in your house that are preferable to others. To get you going, here are some suggestions.

Freshen Up the Whole Place

A general sprucing up is the best thing you can do for the worth of a house that hasn't had much regular maintenance in a while. To determine which objects are worn out and require repair or replacement, walk room by room and take a close look at your outdoor area. You'd be astonished at how much of a difference careful upkeep and cleaning can actually make.

A new garage door (for homes with street-facing garages), window boxes or updated shutters, tuckpointing for brick homes, and cleaning and resealing your driveway are a few simple external improvements that can truly make an old house look brand new. New floor coverings or refinished floors, modernized room lighting, under cabinet lighting in kitchens and bathrooms, and a fresh coat of interior paint are interior improvements that can have a significant influence on the entire house.

Think about major outdoor improvements

Remodeling Magazine claims that something as straightforward as building a wooden deck can increase the value of your property and reimburse you for up to 65 percent of the expenditure if you decide to sell it right away. The popularity of outdoor living areas has increased since the epidemic made taking vacations difficult, therefore it's also possible that your family might benefit greatly from this addition.

A lot of curb appeal may be added to your home's front by upgrading your landscaping, which would be beneficial if you decided to sell. Even better, you might utilize the equity in your house to add landscaping that is far simpler to maintain than what you now have, such as xeriscape plants that need minimal water or maintenance, or just a better-planned landscape that reduces the need to mow your lawn.


Universalize Your Kitchen or Bathroom

As people get older, aging in place is becoming a more popular aim. These kind of renovations allow them to remain in their own homes by establishing areas that accommodate walkers, wheelchairs, and other assistive devices. Kitchens and bathrooms that are accessible to everyone can be fantastic investments for your home. It may be necessary to install table-height sinks, bidets, and other sanitary plumbing in universal bathrooms, or even only make minor adjustments like adding better storage and non-slip flooring.

Universal kitchens are a little more complicated and frequently include lowering sinks, appliances, and workspaces so that persons in wheelchairs or others who can't stand for lengthy periods of time on hard floors can use them. A universal kitchen design should also include better task lighting, more accessible storage in cabinets and other places, and non-slip tile.

Author: Your Home Sold Guaranteed Realty

Home's Equity HELOC
Renovation   San Clemente

  your home sold guaranteed, bob cowan, june 2022

Platinum Living Realty
Bob Cowan
120 Newport Center Drive
Newport Beach, CA 92661
DRE# 01970237

Based on information from California Regional Multiple Listing Service, Inc. as of July 15, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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