A lot of people often overlook the value of a home in terms of an investment. Sure, a home is a place where you spent several years building precious memories and celebrating momentous family occasions. It’s provided a roof over your head and is a sanctuary of solace and comfort for you. Your home is that one thing that seems to just be a constant, a virtual extension of yourself that you’ll never seem to part with.
But a home can also be an investment that can serve as your ticket to financial independence especially in the later years of your life and the life of your significant other. When we first start off with our jobs and our career saving up for a house’s down payment is one of the biggest motivators and priorities that we undertake and rightfully so because access to shelter is one of the basic human needs. During this time, we work hard to save up for the down payment and to pay off the home’s mortgage because unless you were born with a silver spoon in your mouth it just isn’t feasible to purchase a home with straight cash when you’re a rookie in the proverbial game of life.
But paying for that home just is not enough, if you want to make the most out of your house, especially in the future, several steps will need to be taken to keep it in great shape. Aside from the obvious fact that having a house in great shape makes it a safer and more comfortable place to live in it will maintain or increase its value over time. A home is an asset that we can attribute to ourselves adds to our net value but it isn’t a liquid asset, meaning it’s not something that can easily translate into money that you can use for something else in the future. Since we only get a few opportunities, sometimes even just one opportunity, to sell our home it’s important to keep it in great shape so it can be sold in the future and you can plan something greater and more exciting.
Here are some tips to keeping your home in great shape for several years, so when the day comes that you’ve decided to sell your home it wouldn’t cost you too much to get it up to speed.
Address water issues immediately
Water is essential for life but it has some pretty harmful effects to a lot of material when exposed to it for too long. If you have a leaky faucet, pipes that are dripping water, roofs with holes in them, or your gutter is not up to speed consider these items as top priority and address them immediately. Water damage has a tendency to accelerate the degradation of materials like wood, it can leave nasty stai
ns that tell potential buyers there’s a problem, and it can lead to foul mold that can even be toxic to your health.
Take the necessary steps to protect your home from fire
What’s worse than a run-down, poorly maintained home? A burned down house. Not only does a fire damage your house causing you to rebuild it but it is also a danger to you, your family and your neighbors. Make sure you have the ample amount of smoke detectors in your home. Be very strict about safety when you are cooking, try to invest in induction stovetops to minimize open flames at home. Also make sure your fire extinguishers are not expired and are current. Have your home inspected by an electrician annually, the money you’ll save from bypassing this step isn’t worth the risk.
Invest in some deep cleaning frequently
Cleaning your home isn’t all about just putting things aside and doing the occasional vacuum. Some deep cleaning is needed on occasion to ensure your home is pest-free, preventive steps are taken on the house and materials that gather permanent dirt are kept clean that will avoid costly replacements in the future.
Protect Your Foundation
Your home depends on your foundation to stand strongly and sturdily. Having a solid foundation will assure you that your home will stand through the ages. Make sure you inspect your home every year to ensure that the ground isn’t putting too much pressure on your foundation. Make sure the soil slopes away from your foundation walls, this will ensure that it’s kept away from water that can weaken the foundation and cost you heavily in repairs of cracked walls or even worse a collapsed home.
These steps aren’t inclusive of every single nitty gritty item on the checklist of owning a home but it does provide the biggest impacts in terms of preventive maintenance and a great home price that you can use to retire and enjoy your financially independent life.