4 Home Improvements You Can Afford With a Small Loan

If you own a home, you know that maintaining it is imperative for keeping the home's value high. However, even with good care, some homes may need a few more improvements to really compete in the market. If you want to boost the value of your home but don't have much money, there are many small improvements you can afford with just a small short-term personal loan.

Check out these four home improvements that are perfect for small loans.

1. Front Entry Door Replacement

Replacing your front entry door is important for several reasons. First, getting a new solid wood or steel front door provides better security, especially against someone breaking down the door. Another advantage of a new front entry door is energy savings. A new door will fit better than an old, worn door, which creates a better seal when the door is shut, so you use less energy to heat and cool.

On average, you can get a decent new front door (and installation) for about $200 to $700. Of course, some elaborate doors can cost over $1,000. The bright side: new entry doors have a high return on investment, or ROI (about 75 percent according to HomeAdvisor). Therefore, even if you take out a loan to pay for the new door, you'll quickly recoup most of the money when you sell the house.

2. Garage Door Replacement

A new garage door offers the same benefits as a new entry door: improved security and energy-savings. These energy-savings are particularly important if there are bedrooms above the garage. If the garage gets too hot in the summer, the heat will rise to those bedrooms. With a new garage door, however, the garage stays cooler, so there is less heat gain upstairs.

Garage doors come in many styles, such as tilt-up, steel, wood, plywood and insulated steel. Therefore, the price can vary, but in general, you'll spend between $400 and $3,000 for your new garage door. The cheapest doors are tilt-up plywood, and the most expensive are roll-up elaborate wood doors. Steel garage doors, however, sit right in the middle.

Again, garage door replacement has a high ROI. In fact, you can recoup up to 97.5 percent of the initial investment according to HomeAdvisor.

3. Light Fixture Upgrades

Old light fixtures pose a few problems. For starters, they may simply be outdated, making your home look old or poorly maintained. Similarly, these old light fixtures may not be as safe as new models, increasing the risk of electrical shock, fire, etc. Finally, old light fixture don't always provide enough light, which can make your home look dingy, dark, and cramped.

Replacing a celling light fixture only costs about $67 to $161 plus $72 to $233 for labor, according to homewyse. In turn, however, your home will look brighter, and it will be more appealing to potential buyers when it's time for you to sell.

4. Minor Plumbing Upgrades

Making a few plumbing upgrades in your kitchen and bathroom can also go a long way in boosting the value of your home. Fixr states that a new toilet or bidet only costs between $160 and $1,000, and because you're upgrading to a newer model, it may be more energy-efficient than your old toilet. You could also upgrade your shower to a porcelain tile shower or install a new bathtub.

Replacing the faucets in the bathroom and kitchen can also go a long way to improve the overall aesthetics of the room.

Small personal loans are a perfect way to help pay for a few upgrades for your home, which can boost the overall value, make life more comfortable, and attract potential buyers. If you would like to know more about small loans, or if you are ready to see if you qualify, contact us at Central Finance today.