Building home equity should be one of the primary goals of home ownership. Equity, simply stated, is the difference between the current value of your home and the amount you still owe on your home. So if your home is worth $250,000 and your mortgage balance is $198,000, you have $52,000 in equity ($250,000-$198,000). You can build equity in your home in several ways, such as making extra principal payments or a higher down payment in the first place. The more exciting approach is to consider home improvements. As the size and quality of your home improve, its value increases, along with your equity. Virtually all home improvement projects will increase your home equity to some degree, but kitchen and bathroom remodels and room additions tend to bring the greatest return.

 

Anything that sets your home apart from the other houses on the block has the potential to increase your home equity value. In addition to increasing the value of your property, home improvement projects can revitalize your home. In today’s economy, selling is difficult, but getting a loan for home improvements is easy! Is a new baby on the way, creating a need for extra space that you just don’t have? Is your cramped, outdated kitchen getting you down? Are you simply getting bored with the look and feel of your home but for whatever reason are unable to sell? Perhaps what you need is to give that old kitchen a facelift, or create a luxurious spa-like environment in your bathroom, or add an extra room for the newest addition to your family.

 

Kitchens, as the central hub of most homes, tend to suffer more wear and tear than any other room. Because they often follow current color and style trends, they can become dated much more quickly than other rooms in the home. Current remodeling trends are focusing more on the idea of the “live-in” kitchen, which can include amenities like a television, Internet access, a couch, and a study area. A unique kitchen will make your home stand out, and can significantly increase your property value. Even a simple remodel like adding dual sinks or recessed lighting under cabinets can add value to your home.

 

Like the kitchen, a remodeled bathroom will also increase the value of your home.

The bathroom is an excellent place to relax and spend some time alone, and today’s bathrooms are all about luxury. From warming floor tiles and warming towel drawers to steam showers, a remodeled bathroom can be the perfect place to pamper yourself while adding value to your home. Again, even simple changes like replacing water fixtures can help. You might even want to consider building an additional bathroom, especially if your home has multiple bedrooms and only one bath. Other additions to consider include bedrooms, decks, and sun rooms.

 

An experienced contractor can help you determine the best way to add value to your home. Your contractor has clear knowledge of zoning laws and city codes that will help you determine the most cost effective home improvement choices. Preferred Home Builders is a leading licensed construction company that specializes in kitchen and bathroom remodeling projects, room additions, and room conversions. We at Preferred Home Builders will help you enhance your ideas and work with you to create a beautiful custom design within your budget and time constraints. Contact our professional home improvement consultants today for a free in-home estimate at 888-937-8321.