owning a home Archives | Page 6 of 7 | Blessings Realty | Colorado Springs and Monument Realtor

4 Ways Your Bathroom Can Impact the Value of Your Home

December 11, 2020 By Claire Garlick Leave a Comment

Most real estate professionals agree that a home’s kitchen and bathroom are two of the biggest selling points for homebuyers. However, even if you’re not planning to sell your home in the near future, you should want your bathroom to be as cozy and accommodating as possible since most people spend considerable time in that room each day.

To add value to your home, or just make it more attractive and useful, here are several upgrades to consider:

Shower, Tub, Sink, and Toilet

Have an expert check your bathroom plumbing to ensure it remains in good condition. Repair any leaks in the water lines and remove evidence of mold or mildew. Fix a dripping faucet and replace worn or rusty hardware in your shower, tub, or sink. Additionally, remove hard water stains in the toilet bowl or grunge around the base.

You may want to repair or replace fixtures that appear dated or that show wear, such as a chipped bathtub finish or cracked counter. Also, consider adding a bidet for convenience.

Lighting

Outdated lighting fixtures can make a room look unstylish and boring. If the electric isn’t up to code, that issue should be handled immediately to ensure safety while using bathroom appliances like a blow dryer or electric shaver. Install recessed lighting or wall sconces to coordinate with the rest of your home decor. Also, dress up any windows with bamboo shades or a cheerful valance—and let the sunlight in when possible.

Flooring

A bathroom floor that’s cracked or showing signs of age can be replaced affordably by utilizing newer water-resistant floor tile or linoleum. Choose a style that meshes with your bathroom’s color scheme and blends with the rest of your home. New flooring can immediately brighten up a bathroom to make it feel more welcoming and updated.

Decor

You may want to paint or add wallpaper to just one wall to bring some personality to your bathroom. Add a couple plants that will thrive on the moisture and help reduce the risk of mold. A wall shelf for decorative vases, flowers, or linens adds storage to make the bathroom more functional. Additionally, hang framed wall art to go with a themed shower curtain as focal points of interest. And a bath mat or throw rug can add a spot of color to bring everything together.

It won’t require much time or money to get your bathroom in top condition. You can continue to enjoy it indefinitely or be assured that if you decide to sell your home, the updated bathroom might just help to clinch a sale.

Article originally published at http://blog.rismedia.com/2020/bathroom-impact-value-home/.

Homeownership Is a Key to Building Wealth

November 20, 2020 By Claire Garlick Leave a Comment

For years, real estate has been considered the best investment you can make. A major reason for this is due to the net worth a household gains through homeownership. In fact, according to the 2019 Survey of Consumer Finance Data from the Federal Reserve, for the average homeowner:

…a primary home accounts for 90% of the total wealth of a family in the U.S.

How do homeowners gain wealth?

Most large purchases, like cars and appliances, depreciate in value as they age, so it’s understandable to question how owning a home can increase wealth over time. In a simple equation, the National Association of Realtors (NAR) explains how the combination of paying your mortgage and home price appreciation grow overall wealth:

Principal Payments + Price Appreciation Gains = Housing Wealth Gain

As home values increase and you make payments toward your home loan, you’ll gain wealth through equity. The same article from NAR also addresses how wealth gains tend to play out over time:

Housing wealth accumulation takes time and is built up by paying off the mortgage debt and by price appreciation. And while home prices can fall, home prices tend to recover and go up over the longer term. As of September 2020, the median sales price of existing home sales was $311,800, a 35% gain since July 2006 when prices peaked at $230,000.

Taking a look at how equity has grown for the typical homeowner, it’s clear to see how real estate is a sound long-term investment. NAR notes:

Nationally, a person who purchased a typical home 30 years ago would have typically gained about $283,000 as of the second quarter of 2020.” (See graph below):

Bottom Line

Whether you’re a current homeowner planning to put your equity toward a new home or have hopes of buying your first home soon, homeownership will always be a great opportunity to build your net worth and overall wealth. Owning a home is truly an investment in your financial future.

Article originally published at https://www.keepingcurrentmatters.com/2020/11/10/homeownership-is-a-key-to-building-wealth/.

Essential Maintenance to Conduct on Newly Purchased Homes

September 22, 2020 By Claire Garlick Leave a Comment

You’ve worked hard to become a homeowner. However, your work is not done. After you move into your new house, there are several essential maintenance tasks that you’ll need to attend to. Here are a few things you need to do in order to maintain your new home:

Gutter Maintenance

Your gutters are an important part of your home. They’re designed to prevent water from damaging the foundation of your home by redirecting the flow away from the base. They’ll also prevent ice dams from forming on your roof by creating a path for the water to flow off of your roof. You should inspect your gutters and clean them if necessary, as gutters can become easily clogged with leaves and branches – and even sustain damage over time if not taken care of. This is an easy fix that many neglect after purchasing a home, resulting in more costly repairs down the road.

Air Conditioner Maintenance

Unless the air conditioner is brand new, you should ensure that it gets maintenance. You’ll need to have the filter changed, since it’s responsible for removing dirt, dust and allergens from the air. A dirty filter will cause your HVAC system to work harder, as well as produce poor air quality.

You’ll also need to have your HVAC system inspected by a professional. They can perform a tune-up. Air conditioner maintenance will help you save money because the unit will use less energy and last a lot longer.

Water Heater Maintenance

Your water heater likely needs to be drained if it’s been used before. Sediment has a tendency to build up in water heaters over time, and few sellers have this taken care of before they sell their home. If the sediment hardens, your water heater will become less efficient. Draining the water heater will help get rid of the sediment and ensure your heater works normally long after you move into your new home.

Plumbing Maintenance

Inspecting the pipes in a property you’ve just moved into is crucial. Look under your sinks to make sure the pipes aren’t leaking. Also, if there are water stains on your ceiling, you may have a plumbing leak. Additionally, you’ll need to check your faucets for drips. If you notice any problems, call a plumber who can ensure that your sinks, toilets and pipes are in good working condition. Plumbing maintenance can help you save a lot of time and money further down the road.

You will need to perform basic maintenance when you move into a home. You’ll need to clean your gutters in order to protect the foundation, as well as perform water heater maintenance and air conditioner maintenance. Additionally, it’s important to make sure your plumbing system is in good shape.

Article originally published at http://blog.rismedia.com/2020/essential-maintenance-newly-purchased/.