Financial Planning

Raising Your Home's Value

Home improvement projects lift your home's value. But before you do anything, put together a financial plan and see where you can get more bang for your buck.

Home Improvement Projects That Can Increase your Home's Value

Have you been thinking about doing some home remodeling in the near future? Are you putting together a financial plan to see where you can derive the most value from your investment? Well, before you do anything, you might want to hold off until you've considered these top three home improvement projects identified by the 2014-15 Remodeling Cost vs. Value Report1. They may be able to help you recoup some of your costs by adding value to your home.

Replace your doors.

As simple as it may sound, curb appeal (either in person or online), remains at the top by offering you the greatest payback on /"" investment. One of the easiest ways to present a good first impression and improve the overall appearance of your home is by replacing your front door and garage door with more upscale upgrades. In addition to the aesthetic value, new doors provide energy efficient value to your home which in turn translates to more money in your pocket.

Upgrade your home's siding.

According to the report, replacing/upgrading siding can add substantial value to your home come resale time. A popular choice that has been trending over the past year is manufactured stone veneer siding, which is expected to recoup 92.2 percent of its cost nationally.

Remodeling the heart of the home.

No matter how minor, kitchen remodeling projects presented a national payback of 79.3 percent on average. Some of the top updates include replacing cabinets, updating fixtures and appliances, replacing countertops with granite, quartz, or marble, and updating flooring. However, if you're aiming for a more contemporary look (and the extra value that goes along with it), you might want to consider some high-end extras such as a wine cooler, dry/wet bar, or even an outdoor kitchen.

Of course, there's no exact figure as to how much value these and other improvements will add to your home - there are simply too many variables.   

1. http://www.remodeling.hw.net/cost-vs-value/2015/**

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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

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Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax‐related decisions. For information about Protective Life and its products and services, visit www.protective.com.

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Home Improvement Projects

Before you create a financial plan to improve the value of your home, consider learning more about how specific home improvement projects can actually help you recoup some of your costs. In the long run, it makes better financial sense to embark upon projects that will add value to your home. For more information, visit our learning center.

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