Home updates that pay off

Our Home Equity Line of Credit (HELOC) is your tool to improve your enjoyment of your home, and its resale value. But which improvements should you invest in?

According to HGTV.com, some home improvements can actually pay for themselves, allowing you to recoup all or most of their cost when you resell your home. Check out these  improvements' average return on your investment:

Improvements Average return at sale
1. Minor bathroom remodel 102%
2. Landscaping 100%
3. Minor kitchen remodel 98.5%
4. Exterior improvements 95.5%
5. Attic bedroom conversion 93.5%
6. Major bathroom remodel 93.2%
7. Major kitchen remodel 91%
8. Deck, patio or porch addition 90.3%
9. Basement remodel 90.1%
10. Replacement windows 89.6%
11. Family room addition 83%

Source: HGTV.com

Pandemic effect

With more people working, attending class, shopping, recreating and even worshiping from home, the need for home offices, quite study areas, entertainment areas, privacy and yards has skyrocketed. In fact, some suburban homes are receiving 15-50 offers over asking price within a week of being listed. Many homeowners are finding it more prudent to improve than to move as some of these homes sell for $50,000 to $100,000 over list price. 

Source: LATimes.com 

Learn more about our HELOC

Whether you want to customize your home to better meet your needs, invest in improvements to improve its market value, pay off debt or secure a source of funds in case you need them, our HELOC can make it happen. Click to learn more about our HELOC or call us at (714) 536-6517.