Should I use home equity for maintenance and upkeep of my house?

The adage ‘if it isn’t broke, don’t fix it’ does not always apply. Sometimes, you not only need to fix it, you need to improve it. Home improvements can build equity in your home by increasing property values, overall comfort and curb appeal. Although the housing market is still in the process of recovering, that does not mean you cannot give your home an upgrade. Does spending money help you save money? In this case, yes. Homes improvements are investments that build home equity. Choosing the right home improvement project pays off when potential buyers want that same convenience and beauty. In the end, home improvements can save you a good deal of money. Here are some solid ideas for adding equity to your home.


This most obvious upkeep item both protects your home from more costly repairs due to weathering and rot and greatly improves the curb appeal of your home.  By keeping a fresh coat of paint on the exterior of your home, you can avoid the time consuming and costly need for scraping, rot repair and other preparation work.


Kitchens are the hub and heart of the home — and a great place to invest in home improvements. Kitchens are all about function, but you do not have to forsake form. Appliances are more efficient and stylish than ever before, so you may want to consider upgrading your refrigerator and stove. It does not hurt that current kitchen appliances are very energy-efficient. Therefore, you actually end up saving money and building a bit of home equity at the same time. If chosen tastefully, new flooring and windows can do wonders for your kitchen space.


In most cases, building a deck adds instant equity to a home. The first impression that people get about houses is the outside appearance and decks catch immediate attention. People like the idea of enjoying their outside space, relaxing under the stars or gathering with family and friends. Decks also have exponential landscape potential, a pleasant and attractive way to enhance your property’s appearance. Decks invite interest and are a very practical — and profitable — home improvement idea.

Preventative Maintenance

Preventing major catastrophes help preserve your home’s equity and saves money, too. Regular home maintenance and repairs help prevent major catastrophes while preserving your home’s equity.  Roofing inspections and repairs help avert infrastructure disasters that can all but ruin your home. Making sure that shingles are properly installed and replaced are minor costs compared to a completely new roof installation. Do not neglect your HVAC systems either. Annual furnace inspections can stave off costly furnace and heating system replacements. Have a plumber check out the plumbing to ensure smooth operation and replace pipes when necessary. Nothing runs home equity into the ground like water damage and you should not take the risk. Also, having an electrician examine the wiring in your home is a great deterrent to potential fire hazards. Any repair that protects your home from outside elements and internal dangers is a mandatory tool for safeguarding your home’s equity. It also protects your wallet. The costs of minor repairs are tiny compared to spending thousands of dollars in replacement costs.

If you have been considering making a few home improvements, now is a perfect time. There are many options for funding home improvement projects, whether drawing from personal budgets or obtaining home equity loans. If you choose the right home improvement projects, you ultimately reap the benefits of increased home equity.

Click here for more tips on how to improve your home so you will fall in love with it all over again.  

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About Author

Bill Burpeau
Bill Burpeau

Bill Burpeau is a relationship manager at Hanscom FCU. As a Credit Union Certified Financial Counselor, he is an enthusiastic advocate of financial literacy and education. He constantly studies and is up to date with the latest financial management concepts and technology. Bill is a graduate of Texas A&M University with a BBA in Business Management and served in the U.S. Navy as a Supply Officer.

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