ONLINE BANKING
Access ID:
Pay Online Button
Apply Now Button

Necessary versus valuable home improvement projects

Posted on Thursday, December 8, 2016 at 5:10:18 PM

Some home improvement projects need to take place to ensure that the house is comfortable, safe and warm, while others will be a bit more focused on boosting the overall value of the abode, especially when there is a plan to put it on the market for sale in the near future. Let's take a look at some of the improvements you should complete just to make your home more comfortable and stable, and then review those that can provide some serious returns on investment down the road. 

Get it done
Bob Vila's website recently published a blog post from contributor Manassa Reddigari?, who outlined some of the winter projects that really need to be taken care of soon should families want to have a happy, warm and safe season. She started with heating, ventilation and air conditioning systems, pointing out that air quality and energy efficiency can both be dramatically hindered when homeowners do not service their HVAC routinely. 

Of the tasks that need to be tackled to ensure that these systems are properly functioning, Reddigari urged homeowners to get their furnaces serviced - which can also help to ensure this very expensive hardware lasts longer. What's more, a well-serviced furnace can also dramatically reduce energy costs during the winter. Should the furnace be several decades old, homeowners might want to consider replacing them altogether, which would certainly have a positive impact on the home's value as well. 

Boosting curb appeal
HGTV published its rankings of the most valuable home improvements, asserting that the returns on investment for these projects will generally be the highest when it comes time to sell the house. According to the website, bathroom remodel projects can fetch 102 percent ROI for a homeowner, even if the tasks completed are relatively rudimentary, while bigger kitchen remodeling efforts will tend to offer a 91 percent ROI. However, HGTV stressed the importance of controlling the costs of completing the project to get the strongest returns, as flippant management of expenses will not put homeowners into the driver's seat with respect to selling their houses. 

Finally, the website pointed out that the exterior improvements that can be tackled once the snow thaws are great ways to increase the value of the house, and tend to be more affordable. With an estimated ROI of 90 percent, but costs potentially being very low, decks and other outdoor environment additions should be considered by any homeowner as a potential improvement, whether they are looking to sell the house or not. 

Getting financed
If you do wish to complete one of these more expensive home improvement projects either for your own comfort or to increase the value of your house, you should consider looking into financing programs to soften the financial burden involved. Speak to a representative from your local bank regarding the types of home improvement financing programs available today, and ask for guidance to ensure you choose the one that is best-suited to your unique needs and goals.