Helping New Homeowners Retain Home Value, Part 1
At Primary Residential Mortgage, we’re proud to offer a comprehensive mortgage loan and homebuying services to all our clients. Whether you’re interested in a conventional loan or a loan program like a VA loan, FHA loan or USDA loan, we’ll walk you through the application and approval process, plus assist you with closing on your desired home and several areas of future homeownership.
Within this latter realm, one of the most important factors for all new homeowners will be keeping their home value high. Even if you don’t plan to sell for a long time (or maybe ever), there are several distinct benefits to retaining home value – and if selling could be a possibility at any point in the future, this area takes on even greater importance. This two-part blog will go over several important areas to consider when it comes to retaining home value in your newly-purchased home.
Standard Maintenance
One of the single biggest areas when it comes to keeping your home value high is seeing to regular maintenance for standard areas. We’re talking about items and fixtures like plumbing, HVAC components, electrical connections and various appliances throughout the home, particularly larger ones that come with a high cost if they break down.
This area involves setting aside a limited home maintenance budget each month, a budget that will largely depend on how much of this work you’re able to do yourself compared to how much you’ll be outsourcing to professionals. The latter area can save you money, but be sure not to over-extend yourself beyond your skill level – not only will this come with safety risks, you may risk lowering home value if you make a mistake in an area a professional could have handled without issues.
Exterior Themes
One major theme when it comes to home value is one known as “curb appeal,” a common real estate term that speaks to the first impression people get when they first view your home. There are several important factors to consider when it comes to exterior curb appeal, from ensuring proper color themes to making sure areas like siding, gutters, windows and others are in great shape.
One idea that often brings great ROI for a home: Painting the exterior. This is a great way of minimizing any signs of aging or visual imperfections, bringing a fresh look to the home with making it more aesthetically pleasing for a low cost.
Landscape Areas
Another area that’s vital within the realm of curb appeal is your outdoor landscape. Those viewing the property will not view it positively if they see things like unkempt lawns, dead or decaying trees and especially potential safety hazards, which can take place in yards that don’t get enough attention.
For more on how to retain home value once you’ve purchased one, or to learn about any of our home loan products or services, speak to the staff at Primary Residential Mortgage today.
*PRMI NMLS 3094. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Opinions expressed are solely my own and do not express the views of my employer.
