5 Ways to Maintain Your Home’s Value
Purchasing a home is a major investment, yet some home owners experience a decrease in the value of their house over time. Prevent this from happening by following these five tips that can maintain or even increase your home’s value!
The Curb Appeal Impact
Whether you are considering listing your home or simply want it to look its best, curb appeal is a vital factor to caring for your home’s value. Remember, the front door and the surrounding yard is the first impression so make it a good one! Creating an attractive entrance doesn’t have to take a lot of time to maintain either. Consider something simple ideas like painting the front door, giving your mailbox a makeover, or adding landscape lighting.
Fresh Coat of Paint
A coat of paint on both on the interior and exterior of your home is one of the quickest ways to give your home a fresh look. Several factors such as regional climate or the paint quality from the previous job influence how often you will need to repaint, but generally it should be done every five years for the interior and every ten years for the exterior.
Whether you own an older house or plan to live in your current home for a decade or longer, you will eventually reach the point where you need to update your appliances. Out-of-date stovetops, refrigerators and mis-matched appliances might turn a potential buyer away. Stylish updated appliances, however, can make the whole house more desirable. Modern, energy-efficient appliances are well-known money savers that might make your home look like a better investment.
Termites and other pests search for opportunities to sneak into your home through the tiniest of cracks and crevices. Don’t wait for them to creep in and start causing damage to your home. Be proactive by working with a local pest professional to have your home consistently treated to keep them out!
Replacing the roof on your home can be a big investment, but one that is important to maintain the value of your home and prevent issues like leaks. According to the National Association of Home Builders, slate, copper and tile roofs can last more than 50 years, wood shingle roofs last about 30 years, fiber cement shingles last about 25 years, and asphalt shingle/composition roofs last about 20 years. These lifespans, however, do not take into consideration harsh climate and weather conditions, such as snow, hail and hurricanes, that can significantly affect roofs. Homeowners should constantly be on the lookout for any roof issues so check often for loose shingles and clogged gutters which can result in pooling water and eventual damage.
With rates still near historic lows, now is a good time to talk to a mortgage professional to discuss your home ownership goals. In fact, refinancing is booming right now with requests for refinances making up 64 percent of total mortgage applications the first full week of July, according to the Mortgage Banker’s Association. Here are four signs it might be time for you to consider refinancing your mortgage!
As home prices continue to rise and inventory levels stay low, our current seller’s market signals stronger competition with more buyers fighting for fewer homes. In this scenario, making a perfect offer is key to securing a house. So what factors make your offer stand out from the rest?
An appraisal might not be the most well-known step in the homebuying journey, but it is a critical one. Get more acquainted with appraisals by reading up on these 4 important points!