You’ll often hear real estate agents say, “The best time to buy real estate was yesterday, and the second-best time to buy it is today.” That’s because real estate is seen as an asset that only appreciates over time. In many cases this is true. If you look at the value of homes over time, they tend to go up. However, that’s not to say that you can’t influence the degree to which your home appreciates. You can also be sure to avoid some common reasons for home depreciation, or less-than-ideal growth. Here’s how you can add value to your own home over time.
Make Sure You’re Taking Care of Your Property
The number one thing you can do to ensure the appreciation of your home value is to maintain your property. Just like any other asset you may own, you want to keep your home in good shape. Take care of any regular maintenance issues as they pop up. Staying attentive to these details can prevent more serious costs down the line. Plus, by keeping up with these projects along the way, you won’t find yourself facing a mountain of to-do list items when it comes time to sell your home.
Consider Updating Parts of Your Home
In addition to regular maintenance, you may also consider updating parts of your home. This can include home renovations, remodels, and replacing fixtures. A home remodel provides you with an opportunity to improve the functionality and esthetics of your space. Adding a large window or more kitchen space may improve your day-to-day lifestyle. When deciding on a home remodel though, it’s important not to make your adjustments too specific. Spending money on hyper-specific alterations may not add value to the average homebuyer, and you will end up absorbing the cost without the benefit.
Know What the Other Homes in Your Neighborhood Are Worth and Why
Something you may not think about during your initial home purchase is the fact that your home’s value is relative within your neighborhood. The value of the other homes within your neighborhood can give you an idea of what you should expect your home to be worth. If your neighbors sell their home at a certain price, but your home has an additional 500 square feet, you can expect your value to be higher. You should also understand what types of features your neighbors’ homes have, as they may contribute to the sale price.
Work with the Professionals at JACS General Contracting on Your Home Renovation or Remodel
JACS General Contracting has been providing quality service and craftsmanship to DFW homes and businesses since 2008. Our partnerships with industry professionals and vendors ensure that all of our projects meet the highest quality standards. If you’re interested in a home remodel project that adds value to your home, talk to our team. You can learn more about our array of services or receive a quote by contacting JACS General Contracting at 800-344-1018.