by Chelsea Springli 
My husband and I are recent first-time home buyers. When we were looking at houses, we knew we had a pretty small budget, so we knew we wouldn’t be able to get everything we wanted out of our first home. While I love our layout and the size of our yard, there are still a few changes I want to make, regardless of whether we want to sell our house or just want a night in to enjoy our mortgage. Like any homeowner, I want my changes to be budget friendly, aesthetically pleasing, and to increase my home’s value.
Prep Your Mind and Money
Whether you just bought a house or you have lived there for a while, the fastest way to increase your home’s value is by making a plan. Take the list of projects you want to complete and categorize them by how much it will cost, including your time and money. Be realistic. It’s ok to list an outdoor pool with a waterfall, but keep your financial picture in mind. You may need a Home Improvement or Home Equity Loan from Alltru Credit Union to meet your renovation goals. Once you’ve done the research and made a plan for improving your home’s value it’s time to put your plan into action.
Follow these tips, and your home will be worth more before you know it.
Tackle One Room at a Time
If you set out to paint a living room wall on Saturday and you know what it will cost in time and money, it gets done. By the end of the day, you have a stylish upgrade that will add value to your home. By planning to complete one room at a time, you will see your dreams take shape as you transform each room before moving on to the next. That way, you can avoid getting caught up in half done projects all over your house. Projects that you start but don’t complete quickly can be more discouraging than motivating, and you may settle on your dreams just to finish.
Small Improvements Can Really Pay Off
Are you indecisive choosing between improving your home’s decor versus making upgrades you know will increase your home’s resale value? Many homeowners are surprised to hear that doing a little bit of both will pay off. Check out our list of projects that increase your home’s value. Combine projects with a high return on investment with your Pinterest board and get to work.
Curb Appeal Counts
Want a fresh perspective on the value of your home? Walk across the street, turn around and ask yourself, “Does my house have curb appeal?” Does your home look attractive, welcoming and structurally sound at first glance? With spring right around the corner, I plan on updating my curb appeal by refreshing our landscaping with the addition of new flowers, mulch, and rocks. The old saying is “don’t judge a book by its cover.” However, when you’re selling your house, the outside is the first thing potential buyers see. It’s even easier with sites like Zillow and Realtor. It’s important to consider your curb appeal. Update your cover so others will want to see more of the inside.
Weigh the Benefits of Upgrading Versus Selling
Should I stay or should I go? It’s a question many homeowners face. Here’s a quick process for how to tell if there is more value for you in fixing up, or moving on. First, estimate the costs involved in buying a new home. Make sure you add in the realtor, moving expenses and new loan financing. Don’t forget the minor updates you may need to do to your current home to get it ready to sell. When it’s all is said and done, you may find out you get more equity by staying in your home and remodeling. If that’s the case, you can use the equity in your home to make those changes and freshen up your home if you don’t have enough in your savings to cover the cost.
Start Planning
Now that you have the steps to complete home renovations, it’s time to start planning! As a homeowner, you have several smart options for covering the expenses. If you have ample home equity, you can use a Home Equity Loan or a Home Equity Line of Credit to borrow with a low rate. If you don’t want to use your home’s equity, a Home Improvement Loan from Alltru is a great pick. A Home Improvement Loan often has a much lower rate than a credit card, allowing you to pay for the upgrades in a more affordable way. Whatever option you choose, we’re ready to help make your house your dream home.
