Regular maintenance helps protect investment in home
Elders Real Estate senior sales manager Julie Watts shares her thoughts in this week's Agent Insight
MANY people believe that paying rent is throwing money away and prefer to buy their own home.
They see a mortgage as a forced savings plan.
This can also be said for owning an investment property as well.
When you sell you get your money back plus growth in the price (assuming your house increases in value, which historically over time it does).
This is a compelling reason to buy - particularly now when interest rates are low.
It is a wonderful feeling to know that the house you live in or rent out is yours and you are actually investing in your future.
With owning a home you have the freedom to decorate as you want, the freedom to add on however much you want and improve the home to your needs.
Only home owners get to take direct advantage of real estate appreciation.
Many people who have a home for 10 or more years eventually find their property has appreciated into a small fortune.
Some people choose to take cash out of their property equity to invest for an even greater return.
Others eventually downsize in their later years and use proceeds from the sale of their home to supplement their retirement income.
Buying your own home or an investment home is an investment in your future and it is vitally important to maintain your investment.
You will need to do regular maintenance on the property so it does not deteriorate.
Things to be aware of that can catch you off guard are trees too close to the house that drop debris on the roof, which can cause the roof to deteriorate and gutters to become blocked and overflow, causing internal damage to walls.
Tree roots from large trees that get under foundations can cause movement and cracks to form in slabs and walls.
Protecting your home from termites is also vitally important in Gladstone and regular pest treatments are recommended.
Something as simple as a new coat of paint can also transform a home from drab to fantastic.
Upgrades to kitchens and bathrooms can be an expensive exercise but also one definitely worth doing if you hold a property for a long period of time.