Some of the smartest things you can do this season are winter renovations to increase equity. By improving a property, be it an investment home or one that you personally own, you can create instant equity in that home.
Here are some of the best winter renovations to increase equity:
Installing new, energy-efficient windows in your home is one of the best things you can do to help build equity. This is for two reasons; the first is you can market your home as being more environmentally friendly, which is a huge plus to most buyers. The second being energy costs are generally lower in homes that have this feature.
Depending on how long you plan to live in your home, you may directly benefit from the “cost saving” yourself. If selling right away, you may benefit from a potentially higher sales price and a shorter time to achieve a sale.
A new roof is a great way to add equity to your home. A roof acts as an insulator from the harsh winter elements, so having a new dependable roof can significantly increase your home’s value by reducing the chance of unexpected damage or the need for repairs. A clean, uniform roof is also aesthetically pleasing, which can up your curb appeal and your home’s overall value.
Heating System Updates
Your home’s heating system could be one of the biggest money pits in your entire home. If you are interested in increasing equity and saving money, it’s a good idea to take a look at the upgrades and improvements you can make to your heating system this winter. You may even want to consider adding a secondary system to allow for choice of heating source based on fluctuations in market prices. Having more than one heating source adds value to your home, while giving you a little more control over comfort and expense.
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