These real estate professionals know more than a thing or two about homes. In honor of Mother’s Day, they share their best advice for maintaining, and loving, the place where you live – the same advice they give to their own children.
As the old adage says, mother knows best.
Many parents have a special way of distilling their own experiences into advice for the next generation. And that advice often pertains to financial well-being, like budgeting and saving for life-defining milestones. Owning a home is typically an important one.
Three real estate professionals, who are experts in their local markets, share their best advice for today’s homeowners – the same advice they would give to their own children.
Enjoy homeownership as you build wealth
“The best advice I would give to those considering homeownership is to jump into the market at your earliest opportunity. Real estate is often an appreciating asset that will continue to grow in value – so the sooner you buy, the sooner you can start to build equity,” says Elizabeth Ruehrwein, an agent with RE/MAX Integrity in Rehoboth, Massachusetts.
“The advice I give to my own children is to not just own real estate throughout your life, but to truly enjoy it. And while you’re enjoying it, it can be growing in value and building your personal wealth at the same time.”
Budget for regular home improvements
“Budget and plan to do one meaningful home improvement project every year. It could be a smaller project that improves your everyday surroundings, like adding fresh paint, updated lighting, or planting a shade tree,” says Deb Gillard, Co-Owner of RE/MAX Venture in Owatonna, Minnesota. “Or it could be a larger project that you enjoy while living in your home, but one that could also significantly increase the value of your home for resale, like adding a deck, updating flooring, or remodeling an older bathroom.”
“And, of course, keep up with regular maintenance and repair items as well. Doing these things thoughtfully and regularly will give you pleasure and pride in homeownership. Plus, they will increase the property’s value while you live there and in the event of a future decision to sell.”
View your home as an investment – and treat it as such
“Recognize your home as an investment in your future. As a homeowner, you are building a legacy inside your walls. Your home is a place of refuge and happiness, but it’s also an opportunity to provide a better future for yourself and your family. Care for your home in a way that will protect your investment and make you able to give your family even more opportunities down the road,” says Cheri Salazar, Broker/Owner of RE/MAX Lighthouse in Provo, Utah.
“Because three of my five children are already adults, I teach them to buy a home as soon as they can so they can build a nest egg for themselves through real estate. It’s the most important purchase you will make in your life, so the younger you start, the greater your wealth building opportunities can be.”
Looking to become a homeowner? Contact a local RE/MAX agent today.
Article originally appeared on RE/MAX.
