Our homes are often the biggest investment in our lives. It’s important to maintain them. Whether we want to sell as soon as possible or continue living in our homes for years to come, there are ways to maintain their value.
Here are 5 tips you can use to fight depreciation:
- Improve Curb Appeal:
Curb appeal is an important aspect in home value and impacts potential buyers’ decisions. Some ways you may choose to improve your home’s curb appeal include:
- Painting your exterior or getting siding
- Landscaping the front yard
- Adding or upgrading a walkway
- Adding planters
- Adding or upgrading your mailbox
Small changes add up to make a big difference in your home’s appearance.
- Update Appliances:
You don’t always have to focus on having the top of the line when you need to replace an appliance. For best results, simply update the appliances that might be close to their end. Things like furnaces and water heaters, for example. Choosing to go with energy efficient and eco-friendly models is definitely a plus for you and potential buyers.
- Assess Plumbing:
One of the most common and costly home issues is plumbing malfunction. Inspecting your plumbing for leaks can save time and money later. You can avoid household floods by ensuring your faucets, toilets, showers, and pipes are in working order. You can fix small leaks yourself, or call in a professional plumber if needed.
- Avoid Termite/Insect Infestation:
If your home becomes infested with wood-eating insects like termites, the value will plummet, and liability will skyrocket. When it comes to termites, prevention is far better, safer, and cheaper than repairing the damage they cause. You can use pest prevention treatments to protect the structural integrity of your home. If an infestation happens, so much renovation and repair may have to be done that no buyer will want to purchase your home.
- Improve Cosmetics:
In a similar vein to curb appeal, sometimes appearances make a big difference. Some things you can do to spruce up your home include:
- Replacing older carpeting
- Adding molding
- Updating your lighting(including outside lighting)
- Installing new door handles
- Deep cleaning the house
Schedule regular professional cleaning for the carpets and hard surfaces to keep everything looking and smelling its best!
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If you can implement a lot of small changes and improvements into your home, its value will be maintained or even improved over time. Then, if or when you are ready, you will be able to sell it easily.