How to finish home improvement and remodeling projects?
Particularly if you can use a home equity loan

If you have had good credit and have had no other problem making payments, chances are you are already being approached all the time by banks to take out a home equity loan.  Well, while individual situations vary, the only time I recommend a home equity loan is to make improvements in your home or do some remodeling.  Why?  These projects add more value, or in other words, if you spend $5,000 (even if it is borrowed money), the value of your house will go up by $5,000+delta where delta can be anywhere between a thousand dollars to more than $5,000.  (Related article:  Cash for emergencies)

When you will sell your house, one question that everyone will ask you Have you made any improvements to the house.  It doesn't have to be anything massive but as long as you have two or three small projects to mention, the value of the house seems to go up.  After 9/11, people are spending more time at home and they, therefore, want the home to be even more comfortable.  (Related:  Home inspection checklist)

Can you do it yourself?

I was very scared myself before I did it but you learn little by little and the confidence level builds up.  Plus, there is always Home Depot, Sears, and Lowe's.  And don't forget the DIY television channel and website.

What are some of the most rewarding home improvement and remodeling projects?

• Anything that improves the appearance of the home.  So landscaping or improving the yard are always helpful since as soon as somebody pulls into the driveway they can see it. Along the same lines, addition of a deck and/or a screened porch is another great idea.
• Kitchen:  There is something about the kitchen that we all seem to pay a lot of attention to.  Just changing the countertops did it for us.  Since we spend so much time in the kitchen and the lady of the house is more likely to pick or reject a house based on how much she likes the kitchen, any remodeling here is a great idea.
• Bathroom(s):  You can either add bathroom(s) or make improvements in the existing ones by adding a skylight or cabinets or changing the fixtures in the shower/tub.  
• Bedroom(s):  Remember that people are delaying having babies or not having them at all but they are still buying homes.  What that means is that the master bedroom has become more important.  If you can change the lighting fixtures or a better floor/carpet or add a walk-in closet, the impact on home value is remarkable.
• Home office:  The trend in working from home is exploding.  The number of self-employed people is growing very rapidly while many companies allow their employees to work from home, at least one day a week.  If you can somehow create a home office, you will attract a different kind of buyer and hopefully get more money for your home.
• Family room:  People are staying home more and watching more television on large screen televisions.  No surprise then that we all want bigger family rooms.

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