Are you happy and comfortable in your home? Or, have you been putting off making improvements and the situation is just getting worse?
Well, maybe now is the time to do something about it. There are a number of reasons why this makes sense, including ways in which you can subsidize your expenses. Consider these factors:
- Cost-efficient maintenance. In the long run it is more logical to replace or fix failing components than put up with the increased costs over time. A leaky roof is simply going to get weaker and cracked windows and seals will add dollars to your energy outlay. Look at your appliances, too. For example, the latest models of air conditioners drain 30% to 40% less energy than their ancestors.
- More room. If you’re feeling cramped and you’ve stuffed the spare room with extra furniture and décor, perhaps you need to increase your space with an additional room or attic conversion?
- First impressions. You may not be thinking about selling, but you’d still appreciate having better curb appeal. When you take the time to improve the exterior appearance of your home, you gain a sense of pride and can fall back in love with your nest.
- Tax breaks. Many home improvements can be considered as tax deductions. From more efficient energy sources to home offices, any work you do could come back to you as tax breaks.
- Comfort. Even if you think you’ve become habituated to living in your home with all its flaws, it’s probable that you’re not enjoying it the way you used to. Why not restore it to its former glory and re-experience that feeling of truly coming home?
- Value increase. Some of the cheapest home improvements add value to your property. For instance:
- A new garage door can add over $2,000 in value.
- Energy efficient windows are worth nearly $12,500.
- Siding can improve value by up to $12,000.
- A finished basement will return 70% to 75% of your investment.
- Replacing the roof is another $12,000 in value.
- Fun and satisfaction. Home improvement projects can be fun and immersive. You get to plan, execute, problem-solve and complete a job worth doing. It can bring a family together as you all have a part to play, even if you employ contractors. If you do it yourself, it’s even more satisfying and you have the advantage of knowing exactly what was done and how to maintain or improve it if you have to.
If a lack of cash has been holding you back from making your home into the castle you deserve, consider releasing equity as a way to fund improvements. Get some expert advice on how to do this from Key Advice or other professionals. What are you waiting for? There’s no better time to improve your property and get the most out of your house and home. After all, you’re going to be spending most of your life in it, why not make it the best it can be.