Are thinking of doing some projects around the house, but don’t want to overspend and not recoup the costs when you sale? Don’t feel guilty about financing smaller, low-risk projects that are sure to increase your equity. For example, upgraded insulation may not be sexy, but according to the National Association of REALTORS’® “Remodeling Impact Report,” its median cost is just $2,100, and it recovers 95% of its value in a sale. So a small loan (that you can pay off quickly) might make sense, especially when you consider the energy savings.
Some Good bets include:
|Project||Median Cost||Recoup in $$|
|Hardwood Flooring Refinish||$3,000||$3,000|
|New Wood Flooring||$5,500||$5,000|
|New Garage Door||$2,300||$2,000|
|New Vinyl Siding||$13,500||$10,000|