Home improvement projects are on the rise. More than half of homeowners are planning a home improvement project in 2018, with 45 percent planning to spend more than $5,000.1 While most people use savings to fund these projects, 30 percent plan to use credit cards and 13 percent plan to use a home equity line of credit (HELOC).1
Whether you are looking to sell and want to increase your home’s value or just want more enjoyment out of your home, remember that not all home improvement projects are created equal. Before you invest the time and money in a major home renovation, consider the return on investment (ROI). Many factors determine the ultimate ROI of specific projects, such as the value and attributes of other homes in your neighborhood, the housing market and the project’s overall quality. And remember: You can (and should) enjoy improvements while you’re in the house. Your family’s happiness is important, too.
Check out these common home improvements and see if they line up with your budget and your goals.