Research shows that for most of us, the equity in our homes is more than three times greater than the value of all our other investments combined. In spite of the cyclical volatility in the housing market, you can increase the long-term equity in your home through regular maintenance and well-planned improvements.
Postponing needed maintenance can substantially reduce your home's market value when you decide to sell it. The three types of maintenance most commonly deferred are water damage, pests and roof repair or replacement.
Remodeling can add improvements that will make your home more functional and pleasurable to live in now as well as more valuable when you do put it on the market. Updating your kitchen and bathrooms are your best remodeling investment while converting a basement into a family room, adding a sport court or swimming pool provide the lowest return in terms of increased equity.
Prospective buyers are looking for a home that best fits their living needs with a minimum of work before they move in. While you may not be ready to sell right now, making sure your home is properly maintained and tastefully updated can provide a handsome return on your investment when you do decide to sell.Please contact us if we can answer any questions or provide you with additional information.