Sweat Equity - The Best Return In Home
Making home improvements through sweat equity can increase the economic and personal value
of your home, which is good because if you are like most people, your
home is your most valuable asset.
Renovating your home, however, is
still a risky proposition because even though doing so may increase the
value of your home, the chance of you recovering the actual cost of -
much less getting more than the cost of - the improvement is slim.
those improvements that return the most - kitchen and bathroom remodels
- usually return only about 90% of your investment. Add in interest and
associated costs if you take out a home improvement loan to finance the
project, and it starts to look like you'll do just as well parking your
money in a retirement account - or a mattress.
Unlike with some other
investments, you get the best return on your home investment by
borrowing and spending as little money as possible. In other words,
sweat equity pays big dividends.
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