Spending Mortgage Re-fi Money Wisely with Home Projects that Matter
Not all home upgrades need to cost a fortune – and when you’re going through the process of refinancing a mortgage to take cash out for improvements, you want to know you’re getting the most bang for your buck. For new homeowners as well, several large-scale home improvement tasks just may be outside the budgets.
Never fear: the good news is that you don’t have to do a complete bathroom or garage remodel to change your home’s aesthetics and functionality. Similarly, you don’t have to spend a fortune to improve the market value of your home. With that in mind, here are a few low-cost home upgrades you can wisely spend your mortgage refinance money on.
Adding Some Color for less: Painting a Home’s Interior
Updating the look and feel of any room in the home might not be as difficult as you imagine. Just by adding a fresh coat of paint, you can accomplish one of the easiest and most affordable ways to dramatically change your home’s appearance. Word to the wise: if you’re planning to sell in the near future, then be sure to maintain a neutral color scheme, because more buyers will find it easier to imagine what the home will look like when it’s theirs.
Improve the Flooring Around Your Home
If you’re only taking a modest amount of cash out of your home refinance, then projects like improving hardwood floors or carpeting in several rooms may be within reach. Again, here’s a low-cost home improvement that brings value, doesn’t cost a fortune, and raises comfort levels in a hurry.
For those homeowners who really want to go all-in on this upgrade, you can find a professional to sand and seal the floor, lifting up and removing carpet or refurbishing existing hardwood flooring. Just like that, your home has a complete facelift on one or more floors!
Improving the Kitchen for Less: The Backsplash
Bringing in a tile expert for an upgrade to your kitchen backsplash won’t cost a fortune. But if you spend a lot of time cooking and entertaining, new tile and a new backsplash can go a long way toward reinventing the look of your home’s most important space.
Bathroom Fixtures and Repairs
Just as with your kitchen, you can improve the quality of any bathroom without spending a ton of money. The easiest way to do this is by improving on existing lighting and plumbing fixtures.
Consider replacing mirrors, having the bathtub refinished, retiling the walls or floors, changing out knobs and pulls on furniture, and putting up some art on the walls. Spend a little bit of re-fi cash, and you won’t hardly recognize the bathroom when you’re finished!
