Home Improvements, yes or no?
Similar to the “perfect wedding” that you have always dreamed of, having that “perfect home” is the second chapter to that dream. Ask yourself this question: Does it make financial sense to move forward and get the hardwood floors that you have always wanted? The answer is yes, it does.
Here is why
A study conducted by the team of Remodelling Magazine took a look at the average cost for a list of popular remodelling projects with the value those projects retain at resale. Here are the findings:
- Replacing practical features like installing smart lighting and automatic windows are on average more valuable upon resale.
- Similarly, exterior projects have a higher overall cost-value ratio, for example, adding a deck.
- If you really feel like spoiling yourself, remodelling larger areas such as bedrooms, basements and bathrooms, require a large initial investment but potentially lead to better resale price to the owners making up for the investment.
I recommend using home equity to finance your large projects. This is because home equity loans offer a lower interest rates when compared to other lines of credit.
So let’s talk about getting you that hardwood floor, shall we?