You’ve probably heard this before, but is it really true?

In a minute, I’ll share some statistics showing homeownership builds net worth,

and how owning a home can help build your net worth. . .  .  .   .   .

First Consider This.

The average American Homeowner spends  $1,600 a year on home remodeling / home improvements according to The U.S Department of Commerce.

That’s a pretty big annual investment for most families, considering that average spend  does not include the annual home maintenance expenses.

Let’s put that into a long-term investment perspective.
First Year –  $1,600

Five Years –  $8,000

Fifteen Years –  $24,000

When you add this to your annual repair and maintenance costs, you’re spending a considerable sum of your hard earned money on your home over the years.

Wouldn’t you like to know how you can keep some of this money?

It’s no secret,  with a little planning you can take control of your remodeling and other expenses and make this money work for you.

To build value into your home.

 

 

And with the help of Uncle Sam and the  Tax Relief Act of 1997  you can keep some, if not all,  of the investment in your home.

The KEY is:

Plan your home ownership investment from the very beginning.

That starts with making smart choices that will help grow the value of your investment over the years.

 

But keep in mind,  just one bad decisions could cost you thousands of dollars and prevent you from building equity in your home.

Hi,  I’m Dave with Profitable Home Remodeling ™

I’ve worked in the home improvement industry for over 6 years.

I’ve watched as homeowners have wasted thousands of dollars on the wrong remodeling projects.

• Simple things like putting in flooring before their new kitchen cabinets,  to building their new deck over the property line.
• To failing to get a building permit for their renovation, and having to demolish their hard work.

It happens every day, but that doesn’t have to happen to you.

 

 

Profitable Home Remodeling™  is all about making smart, calculated, well planned and executed, home investment choices.

Starting with the understanding that your home is an investment. One that can help build your net-worth  along with your family’s’ other investments.

With a little planning you can:

• Avoid the pitfalls that cause wasted time, effort, and money when selecting the wrong improvements.
• Know your home so you'll be able to avoid the repair and maintenance 'surprises'.
• Performance Test your home to improve liveability and lower energy costs
• Know your neighborhood and plan your remodeling accordingly.
• Select projects (based on your neighborhood, and your lifestyle)  that can help build the market value of your home.
• Know the difference between a DIY  and  Contractor required project.
• Take a strategic long term approach to making improvements and building value.
• Compile records showing the cost of owning and operating your home. (Think  IRS and Millennials, and Green Buyers)
• Discover how to showcase your home so you will have interested buyers when, and if,  you decide to sell.
• Make full use of all the Tax advantages afforded to homeowners who own their home more than 2 years!

Most new homeowners can’t wait to make home improvements and that’s great.

But with a little planning, and some advice from industry professionals and other homeowners who’ve

“Been There Done That”

you could possibly increase your home’s equity when you’re ready to sell your investment.

• What makes your home the biggest investment your family will ever make?

  A study by the Federal Reserve formally answered this question.

  Some of the findings revealed in their report: The average American family has a net worth of $77,300

  Of that net worth, 61.4% ($47,500) of it is in home equity.

  A homeowner’s net worth is over thirty times greater than that of a renter.

  The average homeowner has a net worth of $174,500 while the average net worth of a renter is $5,100

  In Addition: Homeowners are more likely to become involved in the community and neighborhood, vote in local elections, and get involved in charitable work in the community. When it comes time to have a family, homeowners become involved in local schools, parks, police and fire protection, and crime prevention.

• Did you know the IRS allows homeowners to keep their home equity tax free?

  The Taxpayer Relief Act of 1997 allows homeowners to keep the equity in their home at the time of sale. Read more here at BankRate.com.

  While there are restrictions, a smart homeowner can take advantage of this and build their net-worth tax free.

  Are you one of those smart home owners?

 

Keep in mind your results will vary based on a large number of factors. The information found on this site is presented for discussion purposes only. There are no claims or guarantees that the information provided here will increase your homes value.