Ways to Build Home Equity

Cheap Fixes to Improve Home Equity

There are many ways for homeowners to build equity. From making bigger payments to refinancing, the options to add equity to your investment are numerous. Home improvements can range from very inexpensive, to quite costly. In this article, we outline some easy ways to increase the equity of your home without breaking the bank. For some great remodeling ideas for your home, check out The Housing Hour's special on Home Remodeling Ideas.

Add Storage Space to Your Home

Nowadays, even homes in warmer climates have basements, mostly reserved for recreation or storage. One way to up the value and functionality of your home is to spruce up the basement. A common solution to this is to make the basement look like the rest of the home. Get a seamless look by using the same paint and finish on your basement walls. Or, convert your basement into a massive space for functional storage. Look into professional closet organizers who custom build closets and shelving.

Adding functional storage to a previously unused space can add value to your home. Basements are full of storage potential. Basements may not be standard on homes in wet climates, but in the Midwest, where houses are subject to tornado activity, they are quite common. Historically, basements have had the simple purpose of refuge in the case of emergencies. Check out The Housing Hour's special series, Protect Your Kids to learn more about what you can do to protect your family in case of an emergency.

Add Curb Appeal to Your Home

Making a great first impression instantly changes the way people feel about your home. Having a nice landscape, a beautiful paint job and a well-manicured yard can instantly increase curb appeal to your home. It may not sound like much, but keeping your home looking nice is contagious, and it adds to the overall value of the neighborhood.

If you don’t have the best landscaping skills, consider hiring professionals to maintain your yard. There are many ways to increase the curb appeal of your house. Routine painting, or a few well-placed plants can make all the difference when it comes to curb appeal. Please download or stream the following episode of The Housing Hour for more information on home values and the importance of owning a home from the Homeownership Matters series.

Flooring Solutions

Getting new carpet is a very inexpensive way to update your home and make it look clean. Consider getting neutral colors or stain resistant carpeting. If your carpet is looking worn down, especially in high traffic areas, think about getting rugs to place over them in between carpeting. Installing hardwood floors or tiles may be an expensive, yet worthy investment. There many high quality laminates available that are just as good if not better than traditional wood flooring that you can install to increase the value of your home.

This week The Housing Hour's guest is Steve Kleber. Steve is the president of the National Remodeling Foundation, promoting excellence in the field and providing support to younger generations entering it. He is the immediate past president of the National Kitchen & Bath Association’s Center for Kitchen and Bath Education and Research, a non-profit foundation created for the purpose of educating and cultivating future leaders in the kitchen and bath industry.

For great ideas, interviews and stimulating food for thought on all things home-related, feel free to browse through all of The Housing Hour's Special Series.