Home improvement projects can add value to your home. But which ones
will give you the best bang for your buck? And which ones won’t ruin your
budget?
Sara Parker from Utah Central Credit Union explains which projects will earn
you the most money in the long run.
Two home improvement projects will add instant value to your home:
remodeling the kitchen and remodeling the bathroom.
According to HGTV, you can recoup 60-120% of your investment if you
upgrade the kitchen.
But before you launch a kitchen remodel, check your budget. Kitchen
remodels can run anywhere from $5,000 to $75,000. If you want to take a
more budget-friendly approach you can do it phases by starting with new
cabinet doors, or upgrading appliances like a new stove, refrigerator or dish
washer. Or you may want to replace laminate counter tops with tile or
granite.
In the Greater Salt Lake City region you can recoup about 70% of your
investment in a bathroom remodel. If the home only has one bathroom or
one and one-half or one and three-quarters, adding a full second will not
only increase the home’s value but help sell the home faster.
Other areas to consider:
· Windows
· Exterior Siding
· Flooring
· Structural additions like decks
Utah Central offers a home loan product that’s as low as 3.85%. Your loan
rate will be determined by your credit score and the loan-to-value ratio on
your house. Call us at (801) 487-8841 or visit us online at
www.utahcentral.com.
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