DIY Improvements to Consider Before Refinancing Your Home

Refinancing at a better interest rate, managing budget-amicable monthly payments, or even drawing out some equity to put toward other expenses, all this and more with refinancing your home. But before you start down the refinancing road, there are a few strategic DIY improvements you can make to increase the value of your property and, more importantly, help improve those refinance terms.

The following ideas, for the avid DIY-er, will add comfort to your living space and dollars to the appraisal value of your home in return.

1. Improve Energy Efficiency

A good starting point in getting your home refinanced relates to energy efficiency. Energy-efficient homes are attractive not only to would-be buyers but also to the lenders, as very often they mean lower utility bills for the house owners. Usual do-it-yourself upgrades are applying weather stripping around windows and doors, sealing gaps, and improving insulation in key areas of your home.

With insulation improvements can help with energy efficiency. You will preserve heat in your home during winter and keep cool air intact in the summer by enhancing the insulation in your house, making it more interesting during an appraisal. Other simple DIY projects that might make a big impact include things like draft stoppers and upgrading to energy-efficient LED lighting.

Another greener upgrade could be newer Energy Star-rated appliances, though this may require a bit more upfront investment. However, it would add even more value to your home and much to your quality of life. Many utility companies also provide rebates when energy-efficient appliances are upgraded, which helps offset the cost.

2. Finish the Basement

This is one of the highest dollar-value home improvement projects you can undertake before refinancing. A finished basement adds living space; that is always a plus, be it for appraisers, buyers, or lenders. With items properly done in place, a well-finished basement provides space to use as space for a family room, workstation, and even rentals; such appeal adds value.

If you’re taking on the basement yourself, make sure to do it right. Proper insulation and ventilation go a long way in keeping off common issues such as mold or moisture. Proper finishing will boost your home’s value by a high margin, but taking shortcuts will do more harm than good. Keep in mind the installation of adequate insulation, a moisture barrier, and such features as a half-bath for added usability.

Two such pitfalls involve poor insulation of the floor and improper waterproofing. Both miscues can be avoided with a little research.

3. Kitchen and Bathroom Updates

Increasing in your home’s value before refinancing can be achieved with updates to your kitchen or bathroom. Both of them are regarded as major focal points in a home and, per their nature, often have the greatest impact with the smallest improvements. 

Simple updates, which anyone can DIY, like re-grouting tile, painting cabinets, and updating hardware, can go a long way in improving the aesthetic look and adding value to these rooms without eating deep into your pocket. Kitchen renovations may involve the replacement of old cabinet doors, the installation of a new backsplash, or simply the putting in of new fixtures. 

Other bathroom updates may include new faucets, a low-flow toilet replacement, or the painting of the entire room a different color to eventually make it look larger and cleaner.

If you are feeling extra ambitious, complete countertop and cabinet upgrades or adding new flooring can also add some serious value. It is crucial to balance the cost of such projects with the potential return-you want to be sure your investments are covered during the refinancing process.

4. Improve Curb Appeal

The outside of your house delivers the first impression, so good curb appeal can positively influence your refinancing appraisal. In this regard, the more attractive your house looks from the outside, the better, as it turns out, one of those dreamy DIY projects does pay off. Start by cleaning up your landscaping: trim bushes, plant colorful flowers, and put down fresh mulch to create an inviting atmosphere.

Try some sustainable landscaping to kick your yard up a notch, with native plants that won’t require a whole lot of TLC. Again, it’s the little things: add a garden out front, change out your mailbox, or just pressure wash the driveway. If you have one, refinish your deck or patio to make your outdoor space fresh and inviting. An exterior that is well-kept and clean will, therefore, show that you care about your property, which is absolutely crucial when refinancing.

5. Refinancing Options to Consider

Once you have completed your home improvements, the next consideration is refinancing. If you’re a homeowner in Denver, you can find some great refinancing options here: https://arnaizmortgage.com/refinance/colorado/denver/ 

Refinancing after boosting the value of your home may give you access to more favorable rates, saving you money over the long term. When considering refinancing, be sure to compare several different lenders, terms, and rates to find the best option that fits your needs.

Conclusion 

As far as energy efficiency and even curb appeal go, DIY improvements could make all the difference in your refinancing journey. The basement, kitchen, and outdoor spaces are generally considered key areas where increased value can be granted to your home, thus ultimately securing better terms for a re-finance. Be it that you will be staying in the home for years or that you are getting ready to sell the house, such upgrades are truly worth their salt.