what should I do to my house to help get higher equity?

Answer 1

Any kind of home improvement or upgrade will increase your equity...more energy efficient appliances, windows, add a deck, etc. If you have a mortgage, the more you pay on it, the higher your equity.

Below is the link to a simple home equity calculator that will tell you how much more equity you'll have with certain typical improvements.

Answer 2

Additions and improvements add varying levels of value, depending on their nature. However, unless you are capable of performing such improvements on your own, it's rare to see any improvement or addition raise the value of the home at 100% of the cost of the improvement. Hence, to improve the value (thus gaining equity) you may well spend more in money than you increase the value of the property.

The other option, of course, is to use the money to reduce your outstanding principal on the mortgage. This WILL increase your equity at a much higher rate, since every dollar you send to the lender removes a dollar of principal debt.

Then, of course, there's the actual real estate value market, over which you have no control. With luck, values rise and your equity position increases. The same can happen in reverse when market values fall.

Answer 3

The best thing you can do is to stay within your neighborhood. If you over-update for your neighborhood, it won't see the same equity you would have if you were in an area with more updated homes. Stick with the norm and make your home the nicest on the block. easy-peesy.

Equity is something you gain over time. Keep your house well maintained and you wil see the return.