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For most people, their home is their largest investment. Maintaining or increasing its value is important, especially if they’re considering selling or refinancing in the future.
So, how do you increase your home value? One of the best ways to raise the value of a house is through home improvements. Home improvements enhance your living space and boost your home’s marketability.
As the fall season arrives, it’s an ideal time to tackle strategic fall home improvement projects that can add value to your property while preparing it for the colder months ahead.
In this guide, we’ll discuss the fall home improvement projects to increase the value of your home and how to finance these projects.
How to increase home value with these fall home improvements
Several factors can contribute to a home’s increased value, from essential maintenance to aesthetic upgrades and functional improvements.
Because we’re just heading into another fall season, now is a great time to focus on home maintenance projects that prepare your property for winter and boost its value.
The following are some smart ways to improve your home’s appeal and marketability during the fall season.
The value of curb appeal
In real estate, first impressions are super important. As the leaves fall, ensure your home’s exterior looks inviting and well-maintained.
A few simple updates can enhance curb appeal significantly:
- Landscaping: Rake leaves, trim bushes, and plant seasonal flowers to keep your yard neat. Fall is also a great time to aerate and seed your lawn.
- Pressure washing: Clean your driveway, walkways, and home’s exterior to remove dirt and grime accumulated over the summer.
- Fresh paint: Touch up peeling paint or give your front door a new coat of color to make your home stand out.
Increase energy efficiency
Making your home more energy-efficient lowers your utility bills and significantly boosts your property’s value. Homes that offer long-term cost savings are becoming increasingly valuable to buyers.
- Insulation: Improving or adding insulation to your attic or walls can dramatically affect energy efficiency, which also makes it more comfortable during the colder months.
- Energy-efficient windows: Old and drafty windows? Consider upgrading to energy-efficient models, which can help lower heating costs and increase your home’s value.
- Smart home systems: Installing smart thermostats and lighting systems gives your home a modern edge while boosting efficiency.
Renovate the kitchen and bathrooms
Kitchens and bathrooms are top priorities for buyers. Even small renovations can provide a significant return on investment if your kitchen or bathrooms are outdated.
According to Remodeling Magazine’s 2022 Cost vs. Value report, a minor kitchen remodel can recoup approximately 71% of its cost in added home value, while bathroom upgrades add significant value and appeal.
Consider focusing on the following areas:
- Cabinet updates: Repainting or refacing cabinets can give your kitchen a fresh look without a full remodel.
- Countertop upgrades: Installing new countertops made of durable materials like granite or quartz adds both functionality and visual appeal.
- Modern fixtures: Swap out old faucets, showerheads, and lighting fixtures for more modern, energy-efficient options.
Add living space
If you can expand or enhance existing living areas, such as finishing a basement or adding a deck, you’ll increase the usable square footage of your home, which is always a plus for potential buyers.
Consider these options:
- Finish the basement: A finished basement adds functional square footage to your home, making it more versatile for potential buyers. This space can be used as a home office, gym, or entertainment area.
- Add a deck or patio: Expanding your outdoor living space with a deck or patio is another smart way to boost home value. Fall is perfect for completing these projects before the colder weather sets in.
How to finance your home improvements
Home improvement projects can add value but often come with a significant upfront cost.
Fortunately, several financing options are available that allow you to access the equity in your home to fund these upgrades.
Cash-out refinance
A cash-out refinance involves replacing your existing mortgage with a new, larger loan and receiving the difference in cash.
It’s a way to gain access to the equity you’ve built in your home to fund renovations. It’s particularly appealing when mortgage rates are lower, as you can benefit from a cash influx and a potentially lower interest rate.
Home equity loan (HEL)
A home equity loan is—in the most basic sense—a second mortgage that allows you to borrow a lump sum of funds based on the equity in your home.
This option offers fixed interest rates and predictable payments, which makes budgeting easier—often a plus for large home improvement projects.
Home equity line of credit (HELOC)
A HELOC works like a credit card secured by your home’s equity. You can draw funds as needed, but only to a limit set by the agreement. It’s a flexible option for ongoing or staggered home improvement projects.
Interest rates are typically variable, and you only pay interest on the amount you borrow.
What adds the most value to a home?
When deciding which home improvements to invest in, focus on projects that might give you the highest return on investment.
Here are a few estimates, according to aggregate sources:
- Garage door replacement (193.9% ROI)
- Entry door replacement with steel door (188.1% ROI)
- Manufactured stone veneer (153.2% ROI)
- Minor kitchen remodel (96.1% ROI)
- Siding replacement (88.4% for fiber-cement, 80.2% for vinyl)
- Deck additions (82.9% for wood, 68.2% for composite)
- Bathroom remodel (71.7% ROI)
- HVAC conversion to electric heat pump (66.1% ROI)
Secure financing for your fall home improvement projects
Autumn can be an ideal time to tackle home maintenance and improvement projects that can boost your property’s value.
Whether you plan to sell soon or simply want to increase your home’s equity, focusing on key areas like curb appeal, energy efficiency, and functional living spaces can pay off in the long run.
MyPerfectMortgage.com—connecting you with home improvement financing
If you’re ready to finance your next project, consider options like a cash-out refinance, HEL, or HELOC to access the necessary funds.
What to learn more about how to finance great home improvements? Fill out our simple online form. It’s free, no obligation, and we can connect you with the right home improvement financing solution.
Our advice is based on experience in the mortgage industry and we are dedicated to helping you achieve your goal of owning a home. We may receive compensation from partner banks when you view mortgage rates listed on our website.
