| According to a Federal Reserve Bank report published | | | | your property already, a home equity credit line may |
| in 2002 thirty-five percent, the biggest share, of home | | | | be a better way to fund these smaller improvements |
| equity loan dollars goes back into the borrowers house | | | | than using a credit card. The interest is lower and so |
| through home improvements and maintenance | | | | are the payments. |
| projects. Considering the benefits and the ease of | | | | 3. Remodel the kitchen if you really want to increase |
| leveraging the equity you already have through a | | | | the value. Buyers are willing to pay more for a home |
| second mortgage or mortgage refinancing, this is | | | | with a gorgeous cook-friendly kitchen. If you are |
| hardly a surprise. ''The cake itself is the equity, and that | | | | looking to do a remodel, mortgage refinancing is a |
| is the important part of ownership,'' Richard Wakelin, of | | | | good way to cash out on the equity that you already |
| Wakelin Property Advisory. If you are smart about | | | | have and invest in building further equity. (Likely with a |
| building equity you can earn it even faster and with | | | | tax break on the interest as well.) |
| less investment. Some of the best ways to increase | | | | 4. Master bedroom and bathroom improvements are |
| equity are simple such as: | | | | also a good way to increase equity and can also be |
| 1. Buying a home in the right neighborhood is critical. If | | | | paid for through a refinance. |
| the real estate values are rising, you could build equity | | | | 5. Don't forget small improvements with "sweat equity" |
| without doing anything more than holding on to the | | | | either. Just a little bit of capital and a lot of muscle can |
| property. | | | | greatly improve a home through painting, wall papering |
| 2. Curb appeal is key to raising a home's value. It | | | | and other do-it-yourself upgrades. |
| doesn't take much money to install irrigation and | | | | A little bit thought and effort can go a long way in |
| landscape a property, but the first impression from the | | | | making your property your best investment! |
| outside can be worth a lot. If you have some equity in | | | | |