Renovations to Create Instant Equity
Having a home you can call your own is perhaps one of the best feelings in the world. However, there is one word in the world of real estate that somehow brings a euphoric home owner back to earth, and that word is equity. It is the one word that reminds home owners that they only own the value of what they have already paid for the house against its fair market value. That means for a home that has been appraised for, say, $200,000 with the owner still owing $125,000.00 on its mortgage, the equity is $75,000, and that is what the home owner actually owns of his/her home.
Of course, the natural way to increase your equity would be to pay off the mortgage, but unless you have lots of cash lying around that will help you pay for it immediately, that would take a really long time. There are ways that you can create instant equity to your property, and making renovations on your home is at the top of that list.
There was a time when all a person had to do to achieve proper ventilation at home was to open a window or a door. These days, however, proper ventilation the natural way has become some sort of a complicated matter. Opening a window could either mean higher energy costs or letting more pollutants from the outside in. Still, every home needs proper ventilation—open windows or not—because it is critical to home comfort in so many ways.
A study commissioned by the NSW Government Fair Trading has confirmed that word of mouth is the best kind of marketing for tradespeople. The 2013 study, which looked into consumer behaviors when they hire a tradesperson, was conducted by independent research company Instinct and Reason. About 1,000 NSW home owners who had hired a tradie in the past 18 months from the start of the survey acted as respondents.