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A home is the largest investment many of us will ever make. Homeownership represents an important step on the path to adulthood, and making the transition from renter to homeowner is among the most gratifying things a person can do.
That being the case, it’s only natural that you’d want to protect this investment at all costs. Few things are more frustrating than watching a home you’ve spent a sizable amount of money on gradually decrease in value.
Fortunately, helping your home maintain its value – and possibly even increase in value – isn’t nearly as daunting as some homeowners make it look.
Stay on Top of Important Repairs
Allowing important repairs to fall by the wayside is one of the worst things homeowners can do to themselves. Not only does putting such repairs on the backburner decrease the value of a home, but it also makes the property less comfortable to live in.
With this in mind, make a point of tackling large-scale repairs posthaste instead of letting them fall off your radar. For example, if there’s an issue with your home’s electrical wiring, foundation or plumbing, you’d be wise to stay on top of these problems.
Even if it means spending money in the short term, adopting a proactive approach is practically guaranteed to save you a small fortune down the line.
Additionally, if you’re ever looking to sell, you’d be hard-pressed to find a buyer who’s willing to pay asking price for a home in need of expensive repairs. Even if you deduct the cost of said repairs from the price, many prospective buyers aren’t going to want to deal with the hassle of undertaking this work. So, the next time you come across a seemingly important repair, make sure it stays on your radar.
Make Upgrades as Needed
In order to retain their value, some homes require large-scale upgrades. For instance, if your home features out-of-date or unsafe wiring, getting this issue in order can make the property more valuable and much safer.
Furthermore, if your home was built before central air was commonplace, having this feature added will make the property more appealing to prospective buyers. Upgrading is also important with regard to big-ticket appliances. Out-of-date refrigerators, dishwashers and washing machines – items that are typically included in home sales – are liable to give certain buyers second thoughts.
Although some buyers are willing to invest in homes in need of upgrades, they’re generally not willing to pay asking price if they’re expected to carry out these upgrades.
Further info on remodeling projects? Take a look at these Home Remodel Ideas to Increase Property Value
Invest in a Comprehensive Home Warranty
As previously stated, big-ticket appliances can help make or break home sales. So, if you’ve recently upgraded any of your home’s essential appliances, why not go the extra mile to protect your investment?
This is where a comprehensive home warranty enters the equation. The right home warranty will provide sweeping protection for your biggest appliances and go above and beyond what most standard-grade product warranties offer.
This means that you won’t have to put a dent in your finances the next time an important appliance finds itself in need of repair or replacement. Budget-conscious homeowners in the market for complete peace of mind should consider the many benefits of a good home warranty.
Home Appraisal Checklist: Get the Right Value for Your Property.
Be Mindful of Your Home’s Aesthetic Appearance
Your home’s aesthetic appearance is the first thing prospective buyers notice. First impressions are important in every area of life, and this is doubly true when it comes to home buying.
As such, anyone who wishes to help their home maintain its value will need to help the property maintain its physical appearance. Among other things, this entails repainting as needed, cleaning your gutters and keeping your yard in order. In addition, if your home is made of brick or stone, take care to have the exterior cleaned on a semi-regular basis.
As any seasoned homeowner can attest, a house is no small investment. Given how much time and money people put into maintaining their homes, seeing a house decrease in value can be a tremendously frustrating experience. In some instances, helping a property maintain its value or increase in value may seem like an uphill battle.
While some of the reasons for decreased value are completely outside of homeowners’ control, there’s still a lot you can do to help your residence remain just as valuable as the day you bought it.
Take a look at these 11 Front Walkway Ideas to Add Value to Your House