We’ve lived in our house for just over eight years. We actually build our home so we had a pretty nice canvas to start with. We have repainted rooms in our house to the point I think they may actually be waterproof. We’ve added a nice fence in the backyard. We’ve expanded our patio and even built a second story deck with access from our bedroom. Here’s the question: When is enough enough? How do you know when to stop?
A good rule of thumb is to understand your neighborhood and they types of homes that are surrounding yours. Do you have the nicest home in your neighborhood now? If so, then pouring more money and hard work into your home might not lead to an increased value. Do you have the dumpiest house in the neighborhood? If you do, then fixing it up to match the quality of your neighbors could be a great investment when you go to sell.
How long do you plan to live in your current home? This is really the big question. You can remodel until you’re blue in the face if you plan on dying where you live. If you plan on selling your home in the near future then you’re probably going to want a return on your investment so make sure you’re not taking it too far. READ THE FULL POST HERE
On today’s audio podcast we’ll be covering the new Making Home Affordable Modification initiative. This was designed to help homeowners keep from going into foreclosure. There are specific actions a lender can take to help lower your mortgage payment instead of taking your home away. You can get the podcast by clicking here.
The Obama administration rolled out a new housing initiative called Making Home Affordable. Last week we covered the refinance portion and today we’re going to explain the modification part. If you feel you may have trouble making your house payments because of a change or loss of employment in the household, this progam may help.
On today’s Audio Podcast we’ll be explaining the new Making Home Affordable Refinance program. This was designed by the Obama Administration and is a program that may help you take advantage of lower interest rates even if the value of your home has dropped in price. Click here for the podcast.