Ways to Build Home Equity

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Buying a home is arguably one of the largest investments you will ever make. Home ownership is a great way to build your personal wealth and one of the primary ways to do that is by allowing it to appreciate and build equity. Here are some great ways to build home equity while keeping your budget in mind.

#1: Before buying your home, save for a larger down payment.
Saving for a down payment on your home is key, but the larger your down payment is, the less your mortgage is, which could help when the market increases, and you begin building equity. The tradeoff: if you wait too long to save for a larger down payment, you may miss your window in getting the home you really want for the price you can really afford. A good lender can provide the information you need.

#2: Stay in your home.
Once you’ve found your dream home, stay put for a while. The longer you stay in your home, the more likely you’ll build equity. As the real estate market continues to rise, your equity will improve naturally, and you won’t have to do anything except enjoy your home.

#3: Keep your home maintained well.
Don’t neglect home maintenance. Keep on top of small maintenance tasks to keep the list from getting long and out of hand. For example, make sure you tend to your roof yearly, checking it for leaks or ripped shingles, schedule annual heating and cooling system preventative maintenance appointments, and keep your yard and landscaping trimmed and managed. A home that is well taken care of not only makes it better for you to live in, but it also adds curb appeal, makes your neighbors happy, and will help your home stay competitive, thereby enhancing your equity.

#4: Make extra payments.
A lot of people choose to cut their loan term to 15 years rather than 30 years, to pay off their mortgage debt. Rather than taking a 15-year loan which locks you into a higher payment, make a couple of extra payments a year that is designated to principal, not an upcoming payment. By doing this, you’ll be able to cut your mortgage term down significantly and you’ll be able to build equity faster.

Ready to start on your path to building home equity?  I have more than two decades of experience as a Realtor® and can help you start the process of looking for a new home and can provide tips on what you can do to help increase the value of your home! I love working with people around Clark County, so contact me to help you with the information you need to start your adventure in either buying or selling a home.

Posted on July 10, 2018 at 7:25 am
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , , , , , ,

3 Budget-Friendly Bathroom Updates

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Taking the plunge into a full bathroom remodel is a big decision. It takes money, time, and a lot of patience, but in the end, an updated bathroom can be a great investment that will add value to your home in the long run. Maybe a full remodel isn’t necessary, you might just need to do some light updating. A few simple updates can make a big difference and if you’re on a budget, you can still update your bathroom and make your quality of life better!

Update #1: See your bathroom in a whole new light.
If you change outdated light fixtures and replace them with something that’s new and dramatic, it can really transform the space.  New light fixtures can range in price, starting at just $100 or so ranging up to thousands.and range into the thousands. Determine what style fits your bathroom and what your budget is, then install it. Your bathroom will sparkle!

Update #2: Refresh the paint.
This is one of the easiest, most inexpensive things that you can do to transform your bathroom and make it fresh once again.  If you have a small bathroom, avoid super dark colors, as it can make it feel smaller and more enclosed. Instead, choose light colors that make it feel airy and spacious.  

Update #3: Small features that make a big impact.
Add some glamour to your bathroom with small, affordable features. A unique mirror, a new towel bar, accent shelving, a new vanity, or rustic antique pieces that have been restored can all serve as décor that will brighten up the space and make it look like new.

Just like other parts of your home that are decorated to your tastes and sense of style, your bathroom should also express who you are. Check out different bathroom styles online to see what you prefer – modern, classic, or a little bit of both. So, if a full remodel isn’t in your budget, start small. Little updates can go a long way!

Posted on July 17, 2016 at 11:40 pm
Nancy Johns | Category: Home Remodeling Tips, Selling Your Home | Tagged , , , , , , , , , , , , ,

Fabulous Kitchen Design Trends

Do you spend a lot of time in your kitchen? It’s likely that your kitchen is one of the rooms in your home that you spend the most time in – especially if you love baking or cooking!  The kitchen is a central gathering point in the home, whether it’s with family or special guests.  It should feel as spacious, comfortable, and cozy as possible. Making your kitchen warm and inviting is a must-have!  If you’re considering a kitchen remodel or if you’re house shopping and curious about what the kitchen trends are in new homes, we’ve outlined what some of the fantastic trends are here.

Color and style that matches: Using colors and styles that coordinate with the rest of the kitchen space, and even tie into the rest of the home is important. For example, if you like darker cabinet colors, brighten it up a bit with some lighter coordinating countertops. Or, if you’re considering a remodel and you have a lot of vintage or antique décor in the rest of your home, you shouldn’t remodel your kitchen to be super modern and contemporary. Instead, look at design styles that are more classic that flow with the rest of your home. Consider what colors or décor will help you easily blend your kitchen style into the other parts of the house.

Bright, bright, bright: One trend that will likely continue is light and bright kitchen spaces. Light cabinets with a lot of surrounding bright lighting are definitely must-haves for many home buyers today, as well as those that are looking to redesign the kitchen area. Using light colors make the space feel more spacious, and it also gives it that crisp, clean look that many people desire.   

Light paint: Light cabinetry with bright, bold colors is another trend that is common in kitchens these days. If you enjoy the look of white cabinetry, consider adding a bold or bright color to the surrounding walls like red or orange. This is a fantastic way to accept the space and make it notable.  

Open space: Open concept kitchens are very desirable for homebuyers today. When shopping for a home, consider how long you plan on living there. If you plan on living there for years to come, even into the retirement years look at homes that you can grow into and space that is easily accessible when you’re older.

These trends go for big and small kitchens alike. No matter what your style preferences, homes that offer open spaces are usually most desirable, especially for those that entertain a lot and enjoy roomy cooking and dining areas.  Kitchens are one of the most important parts of the home and are one of the biggest returns on investment if you choose to remodel, so be sure that you love the space and can envision yourself in it.

Posted on September 22, 2014 at 4:12 pm
Nancy Johns | Category: Uncategorized | Tagged , , , , , , , , , , , ,