Mortgage Specialists from Invis - The Siemens Group Introduce 5 Ways to Upgrade Your Home & Your Equity
 January 5 2016     Posted by Siemens Group

All mortgage specialists know that there are several parts of every mortgage that are bound to be forgotten by the client, including the different aspects surrounding equity. Mortgage brokers from Invis – The Siemens Group note that there are several different practices that can be implemented to raise one's equity. The following is a solid list of ways that new homeowners can grow equity and make the most of their new or existing mortgages.

Upgrade out of the 90’s

There is a general rule that says home equity does not substantially rise when the only upgrades that are made are stylistic. However, there is another rule that follows the idea that any major upgrades performed will justify their costs within 20 years. Mortgage brokers, Vancouver residents, and real estate agents should keep an eye out for old drywall, fixtures that look dated circa 1990, and other out of decade styles – this is the perfect reason to redo the entire room of a home. This type of upgrade tends to pay for itself and this works even better on a home that has been owned for a long time or that was not in the most pristine form at the time of purchase.

New Siding

Many older homes lack the perceived newness of top quality siding. If siding on a home is more aged or requires painting, new siding can often be placed directly over it to significantly enhance the value of the home. This is a relatively inexpensive way that mortgage specialists recommend homeowners consider as a means of increasing their equity by increasing their home's value. The installation of new siding also opens up the possibility of installing new insulation underneath it to grow the value of the home while keeping it warm all at the same time.

Add Comfort, Save Money

Adding comfort to your home while saving money should go hand in hand. In the case of expanding the equity that one has in their home, this is definitely the case. For some home owners, adding a layer of insulation in the attic can be a powerful way to grow their equity. While this is less about interior design, this is a solid upgrade that both makes the home more comfortable and causes the utility bills to reduce. Installing new insulating covers on switches and outlets can also work to cut down drafts and energy loss through what essentially amount to gaps in the insulation of walls.

Build a Space for Entertaining Neighbors

Entertaining neighbors is a good idea for several reasons. Firstly, neighborhood relationships tend to be better for one's health and overall satisfaction in life. Secondly, good neighborly relations tend to result in the formation of de facto neighborhood watches that can drive down the crime rate and drive up property values. Building a space that is good for entertaining consists of a centralized location, ample seating and a small enough setting for conversational volume. A loft or dining room space is perfect for setting up an entertaining area.

Consider a Privacy Fence

Privacy fences can add value and thus equity in a few ways. For one, they can reduce the effect of winds that hit the home and reduce energy costs. They also add a level of privacy that many home buyers value highly.

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There are many ways that upgrades to the home can increase the value and turn up the equity. For more information on how to increase equity, rely on the guidance of experienced mortgage brokers. Vancouver-based Invis – The Siemens Group can be contacted for services at their website: www.siemens.ca/.