7 Reasons Everyone Should Treat Their Home As an Investment

Most homeowners choose to buy a house primarily because they want a place of their own to call home. But treating the home you own no differently than you would a home you were renting is a missed opportunity. Here are seven reasons it's so important to treat your home like the investment it is.

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Many homeowners put off home maintenance tasks because they're expensive and often don't seem urgent. But basic upkeep that might cost hundreds now could cost thousands if allowed to get out of hand. Treating your home like an investment means staying ahead of maintenance issues so they can be resolved as efficiently and inexpensively as possible.

It's been a seller's market for quite a while now. So, if you're thinking of selling soon, you might be tempted to stop investing in your home. But making sure your home is in tip-top shape when it goes to market is still the best way to ensure it will be as desirable as possible and that buyers will be willing to pay more for it.

Maybe you've been watching those home makeover shows and want to put some money toward a big home upgrade. Should you tackle the kitchen or a bathroom? Or maybe a pool's a good idea? In this case, treating your home as an investment means determining which projects will give you the greatest return on investment (ROI) and going with those.

ALSO READ: 4 Ways to Make the Best ROI on Your Home Sale

If your neighbor's home isn't in good shape, the value of your own home can suffer. No one wants to live next to a home that clearly isn't being taken care of, and the sale price of neighboring homes can take a hit. By taking care of your own home, you help your neighbors ensure the value of theirs.

Treating your home as an investment means keeping good records of what you've done to it. You can then add any substantial home improvement costs to your home's tax basis, reducing taxable profit in the process.

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The fact that you can borrow against your home's equity proves that it truly is an investment. You can often save considerably on interest by going this route, and you can use the money to make improvements to your home or to cover any unexpected expenses that may come up.

ALSO READ: Home Equity Is Up. Should You Tap Yours?

For most people, the primary goal of homeownership is to enjoy that home. From keeping everything in great shape to making the appropriate renovations so the design keeps up with current lifestyles, treating your home as an investment can help ensure that you'll enjoy it thoroughly for years to come.

Treating your home like an investment is much different from treating it like the place you just happen to be living right now. It can mean more work and expense along the way. But it can also help ensure that you get the most value and enjoyment possible out of your home while minimizing your expenses in the long term.

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Presented by Motley Fool Stock Advisor

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