November 11th, 2020
How to Raise the Value of a Home
The subject of energy efficiency isn't the most exciting topic of discussion. But the more you think about it, the more excited you might get when you finally realize how simple it is to reduce your water bill.
According to Dave Ramsey's blog, the conservation efforts you put into your home landscaping will account for about a 10% increase in your home's property value. A good chunk of that savings could easily come from an artificial turf lawn, saving a home owner in water and maintenance.
Artificial lawns run hand-in-hand with resource efficiency, as artificial turf will significantly reduce the overall cost of resources needed to keep it looking good. When you consider the resources needed to keep a real grass lawn in top shape, there is gas and/or electricity needed to power-up mowers and weed-eaters. Even an automatic sprinkler system can draw upon your electric bill. And the main resource - water! Yes, a smarter home takes advantage of water conserving methods that save hundreds of gallons of water each year. A water conserving lawn will add to the value of your home.
A well-maintained yard will stand out in comparison to your neighbors yard, especially if their lawn is dull and worn-out looking. Greenery will get a home buyer's attention, especially if the front lawn is a solid, healthy green color with no bare spots or variations.
Lawn maintenance involves constant mowing, edging, weeding, and occasional fertilizing. By replacing real grass with fake grass, you'll save money in the long run because you'll no longer have the chore of constant lawn maintenance. Say good-bye to sprinkler systems, gas mowers, weed-eaters, blowers and bags of fertilizer. Now you'll have more time to spend playing with the kids.
"Say good-bye to sprinkler systems, gas mowers, weed-eaters, blowers, noise, and bags of fertilizer!"
Make it more attractive..
But it's not just about saving water, it's about "curb appeal." According to James Murrett, the president of the Appraisal Institute,..
"How your home looks from the street - is your first chance to make a good impression, A home's exterior needs to make a prospective buyer want to walk through the front door."
Artificial turf stays beautiful in hot summers and cold winters. Yes, installing artificial turf will keep your lawn green year-round with very little maintenance. Artificial turf does not wilt in the heat, or thin out in the winter causing weak or bare spots.
Financing Options For Home Improvement
Most home owners don't pay for home improvements in cash, and instead opt to finance with an alternative method:
- Credit Card: A common and convenient way to pay for home renovations costs is to charge it to your credit card account. It's quick and tempting, but is it right for you? Just be sure that you'll be able to make large enough payments in order to pay off the entire balance in a short period of time.
- Personal Loan: From minor repairs to large renovation projects, a personal loan might be a better option, as lower rates might be available compared to a credit card. It's also quicker and easier than the extended process of tapping into your home equity.
- Home Equity Loan:Some home owners opt for a home equity loan to use for large renovation projects. This type of loan is where the borrower uses the equity of their home as collateral. Home equity loans are often used to finance major expenses such as home repairs, college education, or medical bills. A home equity loan creates a lien against the borrower's house and reduces actual home equity. Both home equity loans and HELOCs have interest rates, fees, monthly payments and tax advantages to consider.
- Cash-out Refinance: A cash-out refinance is a refinancing of an existing mortgage loan, where the new mortgage loan is for a larger amount than the existing mortgage loan, and you (the borrower) get the difference between the two loans in cash.
Read more about increasing your home's value at the Nerd Wallet.