4 Ways to Effectively Build Equity in Your Home

Updating your home is one of the surest ways to increase your home's value and create some equity. Follow these four guidelines to generate equity in a cost-effective way. 

Buying a Jonesboro home?  Get a Full Home Search

Selling your Jonesboro home? Get a Free Home Price Evaluation

Today I wanted to discuss using your home to build equity and the four factors that contribute to the value of your home.

As you probably already know, your home isn't just your shelter, it's a huge investment. If you're looking to spend some money to generate value in your home, focus on these four areas:

1. Kitchen and bathrooms: Anytime you make upgrades in these rooms, it's a big value upgrade—as long as they're tasteful upgrades. Consider granite countertops if you have Formica or painting the cabinets. If you buy granite or quartz countertops, ask the dealer what's the most popular so you can choose one that will appeal to the masses when it comes time to sell your house. 
Updating your kitchen and bathrooms will always add value if they are tasteful upgrades.
2. Adding square footage and additional rooms: If you have a screened in porch for example, you could glass it in and add heating and cooling relatively inexpensively. I don't recommend converting garages because the garage itself is usually a big selling point in the Jonesboro market. 
3. Curb appeal: You want the home to catch someone's eye when they drive by, so consider adding some color. Also make sure there's no deferred maintenance you need to complete and that the outdoor space is neat and clean. 
4. Aesthetics and overall condition: If you have maintenance issues, the longer you wait to take care of them, the more expensive they typically get. Take care of your investment; think of it like changing the oil in your car.

If you have any other questions about adding value to your home or you're thinking about selling, don't hesitate to give us a call or send us an email. We're always happy to help.