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DIY (Home Renovation)

03/29/2019 - Responsibly Borrowing & Managing Credit, Smart Home Buying & Ownership

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Just turn on the TV and you’ll find many DIY home improvement shows that can help you come up with great ideas to improve your home. A great herb garden, a new kitchen or an awesome game room is just an hour or two away! Well, it may take a little longer, but you can enhance your home yourself for a fraction of the cost it would take to hire a contractor.

WesBanco can help you with your home improvement through Home Equity Lines of Credit (HELOC). Learn more and apply online to get started on your home renovations.

Spending more may not equate to increasing value.

Let’s assume you want to add on to your family room and turn it into a game room. It’s a great idea that will add value to your home in the long run and provide a lot of enjoyment for your family.

But, at what cost? Will you have to add new concrete foundation? Will you have to add to or modify your existing roof line? These serious changes may require permits from your local housing authority – adding to the cost. An addition like this may add value to your home, but the value may be minimal when compared to the cost of the DIY project itself.

Simple, cost-effective DIY projects can reap significant value.

Making modifications that don’t add any square footage to a home, but “open up” the home, can pay big dividends. Consider removing a non-load bearing wall to open up a family room, or eliminating a narrow hallway to make a room feel larger. You can also make some adjustments to your kitchen or family room that will make them great for entertaining.

There are some simple things you can do to enhance the “feel” of your home. Add a larger front door (or even consider double doors), change your rear patio door to French doors, or enhance your entryway. Having an open floor plan that flows into an inviting backyard will add value, and can be done at a relatively low cost.

Any change that makes your home more energy efficient is a good one.

Replacing inefficient appliances, heating and air conditioning systems, or old windows for modern high-efficiency windows can save you money down the road. You’ll make your home more attractive to buyers looking for an energy-efficient home when you’re ready to sell.

Cosmetic DIY projects make an immediate impact on the value of your home.

There are some “cosmetic” DIY projects you can take on that will add value to your home immediately:

  • Repairing and painting interior walls
  • Adding ceiling fans in place of standard lighting fixtures
  • Updating standard fixtures, such as faucets, lights, switches and cabinet handles
  • Cleaning/power washing exterior walls and surfaces
  • Adding or upgrading exterior landscaping

All of these changes can be done easily without much out-of-pocket cost. Most of these projects will just take some of your time, but the results will make your home look better and add to its value.

WesBanco can help you make DIY projects easier on your budget with a HELOC or personal loan. Visit a branch to Learn more.

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Content is for informational purposes only and is not intended to provide legal or financial advice. The views expressed are those of the author.

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