Investing in your Home: Taking the Long View
Y our home is likely the largest financial investment you’ll ever make. When the time comes to move on, the increased value of your home will yield money you can put in the bank – or, better yet, towards your next real estate investment.
Thinking of real estate with an eye to its future worth can help you to make important decisions during your home search. It may encourage you to purchase a home in an up-and-coming part of town rather than a well-established area, with the knowledge that property values will rise as the neighbourhood is gentrified.
Helping your investment stand the test of time may mean choosing a neutral kitchen backsplash rather than a trendier option. It may even mean selecting design features that you personally don’t consider important: just because you favour showers over baths, for instance, doesn’t mean it’s a good idea to skip the bathtub in your master en-suite. Ten years down the road, that missing bathtub may be a deal-breaker for many prospective purchasers.
Once you’re settled, it’s important to keep the value of your investment high. That means proper upkeep and getting feedback from your real estate team before undertaking any renovations. Landscaping is a terrific, cost-effective way to add value to your home: a sapling costs very little, but in time it will grow to be a beautiful, irreplaceable asset.
Real estate is one of the few investments you can enjoy from beginning to end. While stocks and bonds put your assets out of reach until you decide to cash them in, a home is a tangible investment that surrounds your family with comfort every day.
From Award Winning Broker, to Best Selling Author, to International Speaker - you won’t find anyone who knows more about Real Estate than Marnie Bennett – founder of Bennett Property Shop Realty, a full premium service real estate brokerage specializing in marketing and selling new and resale homes, condominiums and investment real estate. Considered one of Canada’s most highly-regarded Real Estate professionals, Marnie is the host of the two weekly radio shows for Rogers Media and Bell Media, and is a syndicated columnist.