Home Improvements- Where Should you Spend your Money?

June 23, 2016

Wouldn’t it be great to have an unlimited budget for home improvement projects? In reality, most homeowners are working on a small home improvement budget. Here are five home improvement projects that can help either save you money or can increase the value of your home.

  1. Upgrading the kitchen or bathroom are two of the best projects you can do to increase the value of your home. Some things to keep in mind while planning your renovation. You should only spend around 20% of your home’s current value on a kitchen remodel and only between 12 and 15% on the bathroom. You also want to make sure your planned changes stay consistent with the style of your house.
  2. Adding a deck or upgrading your existing outdoor living can increase the value of your home. Depending on what you decide to do with your deck can vary the costs. Built in seating, multiple sets of stairs and size can all make an impact. If you are handy with power tools, you can always save a good bit on the cost by installing your deck yourself.
  3. Adding Insulation to your attic can help retain the heat your furnace is producing. Upgrading your insulation is relatively inexpensive and can help you save a huge amount of money on heating costs. This is one weekend project that should be on your list.
  4. Curb appeal is huge. Not only does this let your neighbors know you care about the look of your home, but it can help your house stand out from the rest of the block. This does not have to be expensive. Simply adding planters of annuals or investing in a few perennials can make a big difference. If you want to take things further, update your walkway with nice pavers or get cracked sidewalks replaced.
  5. Changing the paint or even adding a fresh coat can make a huge difference in your space. You can make a room feel bigger just by lightening up the paint color.

Whether the project you tackle this year is big or small, an ENB HomeLine line of credit can help you with the finances.