You’ll make a number of important investments in your life, and one that provides a good likelihood of paying back over time is the one made in your home. The U.S. Census reports that the average home in the United States increased by 5.4 percent from 1963 to 2008 on average. This shows that, aside from offering comfort and a place to experience some of your most precious memories, your home can prove to be a financial investment that can put money in your pocket.
While the odds are in your favor when it comes to increasing the value of your home, it does take some work on your part in maintaining it. While mowing the grass and addressing obvious problems is something most homeowners do, those who take a proactive approach can prevent large problems in the future by investing now in the tools and work needed to allow their home to stand the test of time.
Buy a Utility Task Vehicle
More commonly known as UTVs, utility task vehicles can help you in more ways than you can likely imagine. Highly versatile, they are readily available to get to work doing whatever task you need to get done. Just a few of the exciting features you can take advantage of include:
- Able to withstand harsh conditions
- Functional on a variety of terrains
- Low gravitational center to decrease chances of accidents
- Easy to access spare parts
Once you own a UTV, you’ll wonder what you ever did without it. You may even decide to enhance yours to increase its capabilities even further. For example, when you make the minimal investment in a UTV light bar to install, you can allow yourself the ability to work after dark if you need to.
The first thing anyone sees when they visit your property is the exterior, and this is your chance to make a great first impression. Investing in professional landscaping can help you achieve this goal and prove to be incredibly valuable if you plan to sell at some point in the near future. Aside from the fact that this upgrade can add as much as 20 percent of the value of your home, it also allows you to express your personality. Just a few things you could consider applying to your property include:
- Addition of a water feature
- Removal of dead trees
- Addition of floral designs which skilled landscapers can help you plan
- Placement of stone steps
- Tasteful placement of lawn furniture
Upgrade Your Kitchen or Bathroom
Of all the rooms in your home, the two most trafficked are typically the kitchen and the restroom for obvious reasons. Because of this, potential buyers pay special attention to these areas. When you decide to put effort into renovating your kitchen and/or bathroom, you can make a significant increase in your home’s value. Just a few things you can do over time include:
- Replace all cabinetry
- Buy new appliances
- Upgrade plumbing, especially in older homes
- Consider new color schemes and other decorative aspects of the room
Making Your Investment Count
The median cost of an existing home in the United States is $188,900. This is a sizeable chunk of change, and you want to do what you can to ensure you protect it. Unlike assets such as cars, however, homes can easily increase in value. You will likely spend many years in your home, and, during that time, you’ll earn thousands of dollars of disposable income. When you put yours to good use on a consistent basis during your residency, you can maximize the value of your investment and better enjoy the comforts of a well-maintained home. These wise investments can help you accomplish just that.