Home improvement ideas to boost your home’s value

family enjoying a meal in their new kitchen they paid for with a home equity loan
Posted by Spring EQ on Mar 6, 2023 9:16:28 AM

All homeowners have one thing in common: a seemingly endless list of home improvement projects.

This list likely covers a range of short and long-term projects, and includes a mix of things you need alongside some personal projects you've been wanting to pursue. So deciding which ones to tackle first can be overwhelming.

We get it—and we got you covered. 

 

Before you go knocking down walls or getting trendy with the latest color schemes, look at your list with fresh eyes. Consider which home improvement ideas will actually boost your home’s value, providing a good return on investment (ROI). Those should be at the top of your list.

No idea which projects will boost your home's value? Let’s lead with the heart of your home: Your kitchen.

 

#1 Home Value Booster: Kitchen Remodel

 

The kitchen is the most frequently remodeled room in the home, and is a reliable return on investment when it’s time to sell. Apart from keeping up with the latest appliances and technology, the functionality and feel of a kitchen needs to be kept fresh. So even if you’re planning minor updates like new flooring, matching eco-friendly appliances, premium countertops or fresh paint, a kitchen renovation is time—and money—well spent. 

Planning Tip: EVERYTHING starts with your budget


Industry experts advise you spend roughly 10% of your home’s value on a kitchen remodel.

 

Feature focus: Stylish and sustainable, hardwood flooring is the most popular kitchen flooring trend of the year.

 

#2 Home Value Booster: A New Bathroom

 

A midrange remodel is considered the sweet spot for bathrooms. These renovations don’t require structural changes and provide a higher ROI than an upscale remodel. Don’t worry—you can still achieve that spa-escape in this range. 

 

Start with the big picture. Is a midrange remodel right for you? Maybe you need a bigger space or a new bathroom altogether? Lead with your needs, then go from there.

Feature Focus: Double-sink vanities are the most desired bathroom upgrade for today’s homeowners (and home buyers). Double vanities help to define personal space when things feel a little too close for comfort—truly, a family favorite.

 

 

 

WANT TO EXPLORE YOUR HOME EQUITY OPTIONS?
simple starts here.
Submit this form for a free home equity assessment and explore your options
to pay for a new porch or any home improvement project you can imagine.

 

 

 

 

#3 VALUE BOOSTER: Renovating From The Inside Out

 

From in-ground pools and hot tubs to outdoor kitchens and fireplaces, homeowners are going big on outdoor renovations even if they’re getting cozy inside for the winter.

At the top of the outdoor renovation list? A new deck.

Adding a new deck is a smart way to increase your home’s value – and livable space. Need ideas on how to spruce up your new deck? Check out our ideas on how to improve your new porch.

Feature Focus: Although it has a slightly lower ROI, composite decking is a popular option as it requires less maintenance than wood decks and allows you to use your space year-round.

The path to your dream home starts here—plan your renovation today

Don’t wait to renovate – get the financing you need to add value to your home.

Boost your home’s value sooner than later with a fixed-rate home equity loan or home equity line of credit (HELOC) from SpringEQ. With the historically low rates homeowners locked into the primary mortgages in 2020-2021, tapping cash with a home equity loan or HELOC is a smart, cost-effective way to access funds without touching your low first mortgage rate.

 

If you have any questions about how to access cash from your home's equity, we can help find a solution that works best for you.

 

 

 

 

 

Topics: HELOC, HomeEquity, CashAccess, home improvement, remodel, home design

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    *Details to note:
    Spring EQ customers get their cash on average in 21 business days, and as fast as 14 days. This average time is measured from the time we receive all requested documents and assumes your stated income, property and title information provided in your loan application matches your documents and any supporting information collected. The time period calculation to get cash is based on the average funding turn times over the first four months of 2023, assumes the funds are wired, excludes weekends and excludes the government mandated disclosure waiting period. Typical applicants are required to provide a current and valid completed application, proof of income, mortgage statement, home hazard insurance, and a photo ID.

    Applicants are typically not required to provide proof of assets, and proof of income may be more extensive for self-employed borrowers. Quarterly, we calculate The Spring EQ Cash-In-Pocket Index™ which is the average reduction of our customers debt payments where at least one debt was paid off with loan proceeds. The most recent Cash-In-Pocket Index™ reported a reduction in debt payments of $530.

    Any pre-qualification or “Home EQ” value is in no way a pre-approval, indication of eligibility, or binding underwriting decision.

    All borrowers will be required to meet Spring EQ's current underwriting guidelines including verifications of applicant’s credit profile, debt-to-income ratio, and home’s current value. Eligible Home Equity Loan borrowers must have a FICO score of 640 or greater and debt-to-income ratio of 50% or less. Refinance transactions may increase total finance charges over the life of the loan. Speak to a loan officer for details. Eligible Home Equity Line of Credit borrowers must have a minimum FICO score of 640 and debt-to-income ratio of 45% or less. Spring EQ offers Home Equity loan options up to 95% of your home value for qualified borrowers with a credit score of 700 or greater excluding second home or investment properties. The maximum Home Equity loan or Home Equity Line of Credit amount Spring EQ offers is $500,000.

    For details, call 888-978-9978 to speak to a licensed Spring EQ Loan Officer. Please Note: Any reference to news organizations or outlets and/or their logos or likenesses on these webpages are solely in reference to the inclusion of relevant home equity, mortgage or interest rate subject matter in current, publicly available national news items and cycles and are not meant to imply endorsement of Spring EQ in any way.