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?