Summer Home Projects That Add Value Without Breaking Your Budget

That list of home projects has been sitting on your counter long enough. Summer is a great time to tackle these home improvements; the weather cooperates, contractors are available, and the right project can add style, comfort, and lasting value to your home.

With a little planning upfront, you can make smart upgrades that deliver results while keeping your finances on solid ground.

1. Focus on Projects with Real Returns

Before starting your project, consider what value it will add to your home. Not every improvement pays off equally. Projects like minor kitchen upgrades, bathroom refreshes, and garage door replacement consistently deliver strong resale value. Landscaping and energy-efficient upgrades also deliver strong value and can help lower your monthly utility bills in the meantime. Personal comfort is a perfectly valid reason to renovate, but make sure your budget can keep up.

2. Indoor Projects That Make a Difference

Projects that you work on now can help make a difference in your home for future seasons to come. Some of the most impactful projects you can complete within your home that add value include:

• Kitchen remodeling, including painting or refreshing cabinets/drawers, upgrading the lighting, or installing a new faucet
• Bathroom modernization, such as refreshing the caulk, adding tile flooring, or swapping out the faucet and showerheads
• Energy efficiency upgrades, including swapping out current fixtures for LED lights, installing a smart thermostat, or improving attic insulation

• Fresh paint throughout the rooms of your home, which offers a refreshed and "new" feeling to your space

Each of these projects and others can help you save in several ways. For one, you'll finally be updating and customizing your home in the ways you've always wanted. But at the same time, you'll also be improving the overall value of your home.

3. Outdoor Projects Perfect for Summer

You'll naturally find yourself outside in the summer season, enjoying the warmth and beautiful weather. This can make it a perfect time to provide some updates to your outdoor spaces. Some impactful home improvement projects you can complete outdoors include:

• Landscaping updates, such as putting down fresh mulch, planting flowers, and trimming back trees and overgrown bushes
• Upgrading exterior lighting, by adding lights along any paths you may have and providing a fresh ambience to your outdoor space
• Updating your front door (and garage door if applicable), either by painting or replacing your door
• Creating a living area, whether it be a deck, firepit area, or dining space

• Refreshing exterior surfaces, including walls, fences, shutters, or outdoor trim, by either re-painting or power washing

4. Prioritize Before You Price

Trying to complete your entire project list in one summer can put a strain on your finances. Instead, rank projects by urgency: address problems first, like an aging roof or HVAC replacement, then consider wish-list upgrades. Get two or three contractor quotes before committing and build in a 10% – 15%cushion for surprises.

To set a realistic budget, review your monthly cash flow, factor in existing debts and savings goals, and determine what monthly payment you can comfortably carry. A quick conversation with an American Heritage team member can help you get a clear picture of your options.

5. Know Your Financing Options

When your savings alone won’t cover the cost of your home renovation project, American Heritage has options that can help. Consider one of these secured loan options:

Home Equity Loan

A Home Equity Loan is a lump sum you receive at a fixed rate. How much money you're eligible to borrow is determined by the amount of equity, or portion, of your home that you own outright. It's a great tool and resource that allows you to maximize your value as a homeowner. Home equity is ideal for projects that are concise and have a defined scope and budget.

Home Equity Line of Credit (HELOC)

While a HELOC and a Home Equity Loan both tap into home equity, they are different in terms of how they function. A HELOC is a flexible line of credit that you can draw from as needed, as opposed to a loan (where you receive funds all at once). With a HELOC, you'll only pay interest on what you borrow.

If you have sufficient equity built up in your home and don't necessarily have a clear vision in mind for your project, a HELOC may be the solution you need. HELOCs are a great tool for home improvement projects that are broader in scope and may evolve over the course of the project's progress.

Dedicated Savings Account

Home equity isn't your only option for renovations and home improvements. You can save for a major home upgrade just as you would a vacation, wedding, or other major milestone. To make tracking your progress easier, consider opening a savings account that is dedicated to home improvements. Regular deposits through automating your savings will make achieving your goals even easier.