Secret to skyrocketing home equity through smart improvements
Unlock the secret to skyrocketing your home equity with strategic improvements and you'll find yourself eager to browse options, search options, and see these options for boosting your property's value like never before.
Understanding Home Equity
Home equity is the portion of your property that you truly own, calculated by subtracting any outstanding mortgage balance from the current market value of your home. Increasing your home equity not only enhances your net worth but also provides financial flexibility, such as securing better loan terms or funding major expenses. By making smart improvements, you can significantly boost your home’s value and, consequently, your equity.
Smart Improvements with High ROI
When considering home improvements, it’s crucial to focus on projects that offer a high return on investment (ROI). Kitchen and bathroom remodels are consistently among the top home improvements that yield the highest returns. According to Remodeling Magazine's Cost vs. Value report, a minor kitchen remodel can recoup approximately 72% of its cost at resale1. Similarly, bathroom remodels can provide a return of around 60%2.